Mortgage News
Accord raises proc. fees on residential range
Accord will increase its procuration fees on residential mortgages to 0.37% for Directly Authorised (DA) brokers and 0.4% for Appointed Representatives (AR) from 1 January.
Managing director Jill Evans said the decision to increase brokers’ remuneration had been made to make sure the lender remained competitive against its rivals.
“This change, combined with the investments we continue to make in our intermediary business to enhance our service and product range, such as the recent introduction of our live web chat service, demonstrates our clear commitment to the broker market,” said Evans.
“I am sure our key lending partners and brokers will welcome this announcement.”
Accord’s buy-to-let proc. fees will remain unchanged at 0.50%.
In September, NatWest raised its proc fees on residential applications paying 35 basis points (bps) to DAs and 40bps to ARs.
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