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Leeds Building Society rolls out whole-of-market broker product transfer fees

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  • 05/12/2017
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Leeds Building Society rolls out whole-of-market broker product transfer fees
The society will now pay retention procuration fees to the full broker market, following a successful phased rollout with Connells and LSL.

The fee is available for product transfers in all segments the society lends in – including buy-to-let, shared ownership, and interest only products – where no additional borrowing, or change to term or repayment method is requested.

The mutual will pay a 0.20% for retained business, and the society will continue to pay a full proc fee to brokers who help existing borrowers port their mortgages to a new property.

In addition, an online portal for retention has been developed in partnership with brokers, which incorporated feedback to streamline client detail a view of client details, option reviews and offer requests.

“We remain committed to supporting our intermediary partners in developing their businesses to help more people to have the home they want,” said Martese Carton, Leeds Building Society’s head of intermediary distribution.

“The vast majority of our mortgage business is done through our intermediary partners,” Carton continued, “and our close working relationship with brokers has been integral to our success in growing lending above our natural market share in recent years.”

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