Finlay, writing for Mortgage Solutions, said that the lender was constantly reviewing its practices but had no plans to link proc fees to quality of business submitted.
“At Barclays we constantly review procuration fee payments to ensure they are appropriate, relevant and competitive but that we have no current plans to change them.
“What is clear is that lenders will continue to place an increased emphasis on the quality of applications received.”
Abbey for Intermediaries introduced quality-based proc fees earlier this year and Mortgage Solutions reported last week that the lender will tweak its methodology in the New Year. Lloyds Banking Group is also thought to be considering its position.
Finlay went on to say that the industry as a whole would continue to place more importance on brokers submitting cases correctly in the coming year.
“The ideal world is that they are submitted correctly first time so that unnecessary delays are greatly reduced and it’s a fact that this is not happening as much as it should.
“This issue, along with the proc fee debate in general, will certainly continue to be one of the main challenges facing the industry in 2013.”
