Aldermore, the specialist lender and savings bank has confirmed an April launch for a 0.3% procuration retention fee for broker business to one of its loyalty mortgages.
Aldermore has become the latest lender this week to reposition its fees offering, after Nationwide, Coventry, Skipton, Accord and Leeds BS all made procuration retention fee announcements this week.
It said this was part of its ongoing commitment to its broker partnerships and the mortgage intermediary market in general.
The fee will be available across its residential and buy-to-let mortgage range on its standard loyalty products, with all products available direct to consumers or through brokers.
Charles McDowell, commercial director, from Aldermore, said: “Our proposition puts brokers at its heart. Brokers provide an indispensable service to their customers by giving them the right advice and ensuring the right customer outcome. I am delighted that we can give brokers the recognition they deserve by offering retention procuration fees.”
Santander became the first lender this year to announce plans to launch retention procuration fees, swiftly followed by a flurry of other major lenders.
Victoria Hartley is contributing editor at Mortgage Solutions, Specialist Lending Solutions, Your Money and Your Mortgage at London-based publishing company AE3 Media.
She has an MA in Radio from Goldsmiths after gaining a 2:1 in a Comparative American Studies BA at Warwick University. She also holds a TEFL qualification and taught overseas in Mexico and Japan from 1994 to 1997.
Her role includes editorial oversight of the news, analysis and features, event content management and strategic and editorial consultancy for the AE3 Media group. She is an experienced video, broadcast and live-event host and regularly chairs web and podcast debates and interviews.
Multiple award nominations have resulted in two wins: Santander Media Awards, trade journalist of the year and Headlinemoney Awards, mortgage journalist of the year (B2B). Here is one of the award-winning pieces: https://www.mortgagesolutions.co.uk/news/2011/07/21/exclusive-tale-bailey-fraud-witness/
Previous roles include editorships of Mortgage Solutions, consumer title What Mortgage and trade title Credit Today as well as a stint freelancing for a variety of outlets including The Guardian and Which? Money.