View more on these topics

Leeds becomes the latest lender to increase proc fees

Leeds Building Society has followed in the footsteps of some of its rivals by increasing proc fees.

As of yesterday, brokers will receive an extra 3 basis points for residential cases. The amount paid to brokers is dependent on the amount of business submitted. The maximum a directly authorised firm will now recieve is 0.37 per cent, while the maximum for appointed representatives is now 0.4 per cent.

Leeds BS general manager for business development Martin Richardson says: “These latest changes make the banding and structure of our procuration fees simpler.

“We reviewed our fees during 2014 to bring us in line with the market and have listened closely to feedback from our intermediary partners as we continue to develop the service and products we offer through them.”

In September, Leeds increased its procuration fees for buy-to-let cases to 0.5 per cent, up 13 basis points from 0.37 per cent.

Several lenders have increased their residential procuration fee in the last three months, including NatWest Intermediary Solutions, Nottingham BS, Skipton BS, National Counties BS and Virgin Money.



FOS spends £400k on office move

The Financial Ombudsman Service has spent £400,000 on relocating to a new office building, Mortgage Strategy’s sister title Money Marketing can reveal. Last year, the organisation relocated from South Quay Plaza to Exchange Tower, both in London Docklands. Responding to a Freedom of Information request from Money Marketing, the FOS says the annual rental cost […]

Seeking quality in uncertain markets

By Ewan McAlpine, Senior Client Portfolio Manager In uncertain times, investors naturally seek safety. But in fixed income markets, what does that really mean? Ewan McAlpine outlines the approach RLAM’s Fixed Income Team will be adopting across its credit funds in response to potentially volatile markets this year. Click here for full article

Default image

Health Shield announces strong results

Health Shield, a corporate health cash plan provider, has announced that it has increased gross annual premium income to more than £25m in another year of strong organic growth.


News and expert analysis straight to your inbox

Sign up