The announcement from the West Brom Building Society’s broker channel takes the fee to 0.40%.
Residential mortgages are available to brokers through the lender at loan to value ratios of up to 90% throughout England and Wales, with intermediaries able to submit full online submissions.
Brokers can also track the status of the their recent cases on the West Brom website as well as produce a Key Facts Illustration and Decision in Principle.
National account manager Richard Scott said: “We have reviewed procuration fees in order to maintain a competitive position in the market and to reflect the key role brokers play in supporting the growth and success of the West Brom’s lending plans.
“Since resuming lending activity in the intermediary market in 2012 we have enjoyed fantastic support from our distribution partners and increased our business volumes year on year. We look forward to continuing to build on this success.”
