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Nationwide to pay retention proc fees from today

Nationwide HO - 700x450

Nationwide has confirmed it will pay mortgage brokers retention procuration fees for all prime mortgage applications from today.

The lender will pay 0.20 per cent to all brokers, with no phased roll-out.

Mortgage Strategy previously reported that the lender was set to make the payments at the end of August or beginning of September, but Nationwide has now confirmed this.

Nationwide previously said it did not have the technological ability to pay the fees.

Nationwide director of intermediary relationships Ian Andrew says: “Following our announcement earlier this year of our intention to offer procuration fees for retention business, we have now completed its introduction for both prime and buy-to-let mortgage products, enabling us to acknowledge the valuable support of our intermediary partners and provide our members with greater channel choice.”

The Mortgage Works began paying the fees at the beginning of August.



Nationwide set to pay retention proc fee by September

Nationwide is set let brokers carry out product transfers and get retention procuration fees by the beginning of September. In February the lender announced its intention to pay a retention proc fee of 0.20 per cent at some point in 2017. But now Mortgage Strategy understands the lender will be ready to pay the fees […]


TMW confirms date for launch of retention proc fees

The Mortgage Works has confirmed that it will pay retention procuration fees to mortgage brokers as of 1 August. The intermediary arm of Nationwide Building Society announced earlier this year that it would begin paying for retention business and has now confirmed the commencement date. It will pay a gross proc fee of 0.20 per […]


Buy-to-let lenders loath to raise proc fees after Keystone hike

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