NatWest confirmed the launch of product transfer fees was imminent after a prompt from Legal and General Mortgage Club chair Jeremy Duncombe, at The Mortgage and Protection Event in Allianz Park.
David Hunter, (centre of photo) senior corporate account manager at NatWest for Intermediaries was cornered by Duncombe and members of the audience who called NatWest as soon as product transfer fees were mentioned.
Hunter confirmed the lender originally announced its intention to launch product transfer fees in March this year.
“We said they’d be launched in Q4 – it’s still Q4, so we are on time to announce that. This is good planning. We’re on track.”
Towards the end of the session Duncombe explained why it was important for lenders to offer product transfer fees. “The reason we want lenders to come in [launch product transfer fees] is that customers are rolling on to products when the deal term ends. That’s why it’s so important brokers are involved.”
Referring to the slipping deadline for the Competition Commission review of the mortgage market, Duncombe asked: “It’s not an FCA (Financial Conduct Authority) deadline is it?” Hunter confirmed it wasn’t.
Victoria Hartley is contributing editor at Mortgage Solutions, Specialist Lending Solutions, Your Money and Your Mortgage at London-based publishing company AE3 Media.
Her role includes editorial oversight of the news, analysis and features, event content management and strategic and editorial consultancy for the AE3 Media group. She is an experienced video, broadcast and live-event host and regularly chairs web and podcast debates and interviews.
Multiple award nominations have resulted in two wins: Santander Media Awards, trade journalist of the year and Headlinemoney Awards, mortgage journalist of the year (B2B).
Previous roles include editorships of Mortgage Solutions, consumer title What Mortgage and trade title Credit Today and a spent time freelancing for a variety of outlets including The Guardian and Which? Money.