Newbury BS to pay retention proc fees


Newbury Building Society is set to pay a 0.20 per cent retention fee to its broker panel.

The fees will be introduced from the summer.

 The fee will be paid for all cases where existing customers transfer onto a new product.

Newbury BS sales manager Karen Smith says: “We have always valued the support and hard work of our intermediary partners and would like to thank them for their business.

“We are pleased to announce our intent to pay a procuration fee for retention business later in 2018. We will be confirming an exact date for launch nearer the time.”



Nationwide to speed up proc fee payments

Nationwide Building Society has confirmed it will cut the time taken to pay brokers retention procuration fees. The building society says this is in direct response to broker feedback. Currently it  takes between 15 and 41 days for brokers to receive these fees. A Nationwide spokeswoman said: “We have listened to feedback from brokers and […]

How to balance bottom-up with top-down research in constructing multi-asset credit portfolios

In this short video, Azhar Hussain, head of global high yield at Royal London Asset Management, explains how his team balance bottom-up with top-down research in constructing multi-asset credit portfolios. Watch the video in full The value of investments and the income from them is not guaranteed and may go down as well as up […]


News and expert analysis straight to your inbox

Sign up