Mortgage News
Kent Reliance raises broker procuration fee for product transfers
Kent Reliance, part of specialist mortgage provider and retail savings group OneSavings Bank, has increased the procuration fees for product transfers from 0.25% to 0.30%.
This means brokers using Kent Reliance will receive a 0.30% procuration fee within 30 days of the product switch becoming effective.
Adrian Moloney, sales director of OneSavings Bank (pictured), said he is delighted to increase this fee in recognition of the additional work carried out by intermediaries.
Commenting on the changes, Danny Belton, head of lender relationships at L&G Mortgage Club, said: “The need for advice when customers reach the end of current mortgage deal is an important as ever, especially in the more specialist lending sectors.”
In June, Kent Reliance introduced an income-supported buy-to-let proposition for its individual and limited company lending.
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