Paragon is today bringing in broker procuration fees for buy-to-let mortgages that then go on to complete.
The lender will pay fees for further advances at the same rate as new business, normally 0.5 per cent of the funds advanced.
A further advance lets landlords release cash for property investment or development and is an alternative to a full remortgage.
Paragon managing director of mortgages John Heron says: “Introducing the procuration fee today recognises the critical role our intermediaries play in supporting customers through the decision-making process.”
Paragon also rolled out a new online portal and application process for product switches and further advances at the start of the year.