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Furness BS launches retention proc fees for product transfers

  • 18/07/2019
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Furness BS launches retention proc fees for product transfers
Furness Building Society has launched a 0.30 per cent procuration fee for product transfers carried out by brokers on residential and buy-to-let business.


Brokers can conduct the product transfer through the mutual’s online mortgage application system.

It noted that this step was the latest enhancement to its online capability which also includes document submission, SMS updates and a customer portal for payment of fees.

Alasdair McDonald, head of Furness for Intermediaries, said the lender would continue to contact its existing customers prior to the maturity of their current mortgage deal and will let them know it is happy for them to switch to a new deal through a mortgage broker.

“We’ve worked hard to get this project off the ground because we acknowledge the effort brokers put in to making sure their customers get the best deal,” he said.

“We’ve tried to make this as easy and seamless as possible, not only the product transfer process, but also with the range of fee free products available to our existing customers.”


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