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NatWest to introduce retention proc fees

NatWest intermediary Solutions is to introduce retention proc fees for brokers for the first time later this year.

The lender will offer 20bps on completion of each case on both residential and buy-to-let business after the introduction of the required technical changes.


NatWest head of intermediary mortgages Graham Felstead says, “The topic of retention fees has been one that has been high on brokers’ agendas for some time. We fully appreciate that brokers deserve a level of recompense to reflect the work that they have to do in helping their customers to get the most appropriate deals, including when that is to remain with their existing lender on a new deal. In coming to our decision, we took soundings from many of our business partners to ensure our proposed plans were in line with market expectations.

“We have enjoyed a fantastic few years in building and improving our intermediary proposition and believe our plan to introduce retention fees will be welcomed by brokers as another positive change that reflects our commitment to the intermediary market. This announcement is one of several exciting changes we will be announcing this year which will allow us to continue to improve our proposition to intermediaries.”

In January, Santander revealed that it would pay retention proc fees from March of 0.2 per cent.


TSB store front 700 x 450

TSB set to pay retention proc fee in 2017

TSB plans to start paying mortgage brokers a retention procuration fee later this year. The lender says the proc fee payment will tie in with it launching a product transfer system. The firm launched in September 2013 and so has not yet had many customers eligible for product transfer. A TSB spokesman says the lender […]


Coventry BS to pay retention proc fees this year

Coventry Building Society is set to pay brokers procuration fees for retention business in 2017. The lender currently does not pay the fees, but has been reviewing its position. A Coventry Building Society spokeswoman says: “As part of our pledges, we give our brokers’ clients access to the same new business products as our direct […]


Santander to pay retention proc fees from March

Santander for Intermediaries has today announced plans to pay mortgage brokers a procuration fee of 0.2 per cent on retention business. The roll-out of payments across networks and mortgage clubs will start from March 1 and be fully in place by the start of July. Procuration fee payments will be paid on all retention business […]

What attendees thought of the LendInvest Property Development Academy

LendInvest ran its first Property Development Academy in London last month. Attendees from all over the UK gathered to learn how to better equip themselves with the skills they need to grow their property development portfolios. Speakers from CBRE, Gleeds, Arcadis, Gowling, Residential Edge and AZ Urban Studio gave their insights into their respective fields […]


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