From 8 September, the flat procuration fee structure of 0.35% will push previous fees for two-year products up from 20% and three-year products up from 0.25%, with five-year term loans already at that level.
The fee will be paid across both the National Counties and Family brands.
Keith Barber, associate director, business development (pictured) said: “The intermediary market continues to be extremely important for National Counties. We hope this move demonstrates our commitment to the broker market and together with our evolving and innovative products, offers an excellent opportunity for brokers to serve those clients whose needs aren’t being met by traditional lenders.”
Speaking to Mortgage Solutions, Barber added: “A key factor in this decision is the acknowledgement we have fallen behind the market and this is both a repositioning and a statement of intent.”
