Mortgage News
Family Building Society raises proc fees up to 0.55%
The Family Building Society has increased the procuration fee for brokers on its Family, Offset and Low Start mortgage products.
Brokers will now receive a 0.55% gross fee for the Family Mortgage extended from 0.45%, while the gross fee paid for the Offset Mortgage will rise to 0.50% from 0.40%. Its Low Start Mortgage gross fee will be increased to 0.45% from 0.35%.
The product fee for all cases will remain at £545 and the procuration fee for all other Family BS mortgage products will remain unchanged.
Family Building Society said it had increased its fee after listening to the views of its intermediaries.
Cameron Amaira, head of intermediary sales, said: “The increase in procuration fees reflects the significant amount of work that intermediaries need to devote to applications involving multiple family members or borrowers with changing circumstances.
“As a result our new fees are among the highest in the market, particularly for high LTV mortgages where the Family Mortgage also leads on value for first-time buyers.”
£2.5m paid to help broker clients benefit from greener homes
Sponsored by Halifax Intermediaries
[article_related_posts]