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Newcastle Intermediaries introduces product transfer proc fees

Newcastle Intermediaries has announced that registered partners will receive a 0.20 per cent proc fee for product transfers.

The move follows a “successful” trial with L&G Mortgage Club.

Figures released by UK Finance late last year showed that 291,900 homeowners switched products with their existing provider in Q3 2018, representing £21.4bn.

On the announcement, Newcastle Intermediaries head of mortgage distribution Steve Carruthers (pictured) says: “We have been gaining feedback from brokers on what they want from product transfers and we’ve developed a product transfer process for all of our broker partners.

“I’m pleased to announce that our product transfer process is now available and products will be available on sourcing systems.”


Newcastle Intermediaries cuts BTL rates

Newcastle Intermediaries has announced cuts of up to 0.64 per cent across its range of buy-to-let products. Highlights include the five-year fixed BTL and remortgage product, cut by 0.64 per cent to 3.05 per cent with a £999 fee. This product also comes with an option to overpay by 10 per year, with ERCs of […]

A day in the life of… Tom Gurrie, intermediary sales manager, Vernon Building Society

Tom Gurrie, intermediary sales manager, Vernon Building Society My alarm goes off at… 6am. I leave home at about 7am for the relatively short trip to Stockport where Vernon’s head office is based. I can’t leave the house without… having had a cup of tea. That comes first and then I check the news headlines. I can’t step out of the door […]

Simon Fletcher

Auto-enrolment: pay attention or pay the price

By Simon Fletcher

As a chief executive officer of a business in the financial services sector, I have been dealing with the introduction of auto-enrolment for our clients for some time, but I can also speak from an employer’s point of view, having to go through the process ourselves.


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