L&G Mortgage Club updates retention proc fee matrix

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Legal & General Mortgage Club has updated its retention matrix to add the latest procuration fees as well as lenders set to introduce them.

The matrix includes more than twenty-five lenders, such as Barclays, Halifax, TSB and The Mortgage Works.

The club will keep the matrix updated to help brokers see proc fee information.

This includes fee level, supporting documents needed and when it is possible for a customer to move product.

The Matrix will continue to be updated regularly to keep brokers in the know about lenders’ varying stances on retention procuration fees.

 The matrix can be found here.

Legal & General Mortgage Club director Jeremy Duncombe says: “Our retention matrix shows the variety of lenders who are now paying procuration fees and has been created to help make life easier for our brokers, allowing them to clearly see the lenders that support the retention market, and helping advisers to familiarise themselves with these lenders’ processes.”