Mortgage News
Tesco Bank to reveal retention proc fees in Spring
Tesco Bank is expected to launch “fair and competitive” retention procuration fees for brokers early next year, according to a spokesman.
The lender is set to give an update on the fees before its first round of mortgage deals come to an end in the summer.
Many lenders have initially opted for a fee of up to 0.3%.
Tesco Bank is also set to keep extending its panel network, the spokesman told Mortgage Solutions.
The lender launched to intermediaries last April and has been expanding with the target of reaching more Tesco customers.
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The bank recently added Personal Touch Financial Services (PTFS) to its panel, and this comes after it confirmed £2.5bn of mortgage lending since market launch.