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Landbay to pay retention proc fees of 0.3%

Buy-to-let lender Landbay has announced that it will pay retention proc fees of 0.3 per cent to intermediaries.

The specialist lender has confirmed that mortgage brokers will receive the gross proc fee for all customer renewals once they have reached the end of their fixed discounted period ‘as a result of Landbay’s ongoing recognition of the role of intermediaries in offering advice in the retention process of customers.’

All Landbay’s products are available through their approved distributor partners: 3mc, Atom, Brightstar, Brilliant Solutions, Buy to Let Club, Complete fs, Connect Mortgages, Manor Mortgage Solutions, Mortgages for Business, TBMC and Vantage Finance.

Landbay managing director of intermediaries Paul Brett says: “Our relationships with intermediaries are key to ensuring we continue to lend good quality loans to professional and reliable borrowers. Introducing retention fees is part of our ongoing commitment to the broker community, but will also come as good news for customers who now more than ever will be needing specialist advice at a time of regulatory and fiscal change. This is just one step towards creating a more equal and transparent playing field for advice.”


John Heron

Paragon to pay proc fees on switch products

Paragon Mortgages has revealed plans to pay retention procuration fees to brokers on all of its switch products. The buy-to-let specialist will pay a fee of 0.25 per cent ‘in recognition of the work intermediaries do to deliver good outcomes for existing buy-to-let customers’. The procuration fee is payable only where the broker is acting […]


Brokers back Ami over harm from proc fee ban

Brokers have backed procuration fees as being better for consumers than charging for advice as the issue was thrust back into the spotlight last week by the Association of Mortgage Intermediaries. The Financial Conduct Authority is currently looking at the fairness of proc fees as part of a wider market study on mortgage advice remuneration. […]

Platform to pay 0.3% retention proc fees from May

Platform, the intermediary lender of The Co-operative Bank, has confirmed it will offer a retention proc fee of 0.3 per cent. From 31 May, brokers will be paid the proc fee for all customer renewals where advice is provided, a retention request is submitted and the customer is transferring to a new deal upon maturing of […]

Get your New Year off to a flying start

Ross Jackson, Senior Marketing Manager There’s no denying that these days we expect things quickly. You might have noticed it first-hand during the flurry and rush of the Christmas period. The fact is that in a world of smartphones, social media and click and collect, most clients expect to get an instant response and a […]

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Healthcare predictions for 2015 from Jelf Employee Benefits

The continuing fall-out from the Competition and Markets Authority’s (CMA’s) review, the rise of the private GP and digital engagement will be the primary focuses in the private healthcare industry during 2015, according to Iain Laws, managing director, healthcare and group risk, at Jelf Employee Benefits.


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