National Counties raises procuration fees for brokers

National Counties Building Society will pay a 0.35 per cent procuration fee on all new mortgage transactions from 8 September.

Currently, the lender pays a fee based on the length of the original product term, subject to a cap of 0.35 per cent. For example, a two-year product paid a 0.2 per cent fee, while a three-year products paid 0.3 per cent. 

Under the new fee structure, NCBS and subsidiary Family Building Society – launched seven weeks ago – will pay 0.35 per cent on all new deals.

It will also pay 0.15 per cent proc fees for owner-occupied and buy-to-let mortgages ported from other lenders.

NCBS and FBS associate director for business development Keith Barber says: “The intermediary market continues to be extremely important for National Counties.

“We hope this move demonstrates our commitment to the broker market and, together with our evolving and innovative products, offers an excellent opportunity for brokers to serve those clients whose needs aren’t being met by traditional lenders.”