Mortgage News
Skipton International increases proc fees
Skipton International has pushed up its procuration fees to 0.6% for all non-panel brokers amid a successful foray into expatriate buy-to-let mortgages.
The lender today confirmed the fee increase to all new applications for Skipton’s UK Expat Mortgages, off the back of the product’s success from its 2014 launch.
Skipton International’s procuration fees to panel brokers are to stay at 0.75%.
Fees are payable upon successful drawdown of the loan.
Nigel Pascoe, director of lending, Skipton International, said: “Buy-to-let remains a very popular long term investment option for British expats and we are delighted to be able to pass on additional benefits to brokers through these products.”
Leeds Building Society yesterday rolled out whole-of-market broker product transfer fees.
Industry, not regulation, must lead later life lending change
Sponsored by Suffolk Building Society Intermediaries
The fall in the pound has resulted in a large uptick in enquiries for expat mortgages during the past year, according to Skipton.
It comes after the lender has invested in process and system improvements in a bid to streamline the expat mortgage underwriting process.
Skipton underwriters aim to assess cases within 48 hours from receipt of an application but claim to often turnaround within a day.
Liquid Expat Mortgages echoed views that enquiries in the expat sector had increased significantly.