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Newcastle Intermediaries launches product transfer proc fees

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  • 21/01/2019
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Newcastle Intermediaries launches product transfer proc fees
Brokers placing product transfers through Newcastle Intermediaries will now be paid 0.20% procuration fee.

 

The lender has launched a full switching service after a trial with L&G Mortgage Club.

The process is now available to all registered intermediary partners.

Steve Carruthers, head of mortgage distribution at Newcastle Intermediaries (pictured), said: “We have been gaining feedback from brokers on what they want from product transfers and we’ve developed a product transfer process for all of our broker partners.

“I’m pleased to announce that our product transfer process is now available and products will be available on sourcing systems.”

Earlier this month Newcastle cut rates across five-year products between 85% and 95% loan to value (LTV) by up to 0.7%.

It means the lender offers a 90% LTV five-year fix with £498 fees is now at 2.75%, as well as a fee-free version at 2.95%.

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