Specialist lender Catalyst has brought out an enhanced procuration fee of 2.5 per cent for brokers for the everyday first charge bridging, development exit finance, auction finance and light refurbishment finance.
The increased fee will be automatically applied to qualifying applications received in March and April that complete by the end of June.
The usual proc fee Catalyst offers ranges between one and two per cent.
Qualifying loans have a facility of up to £1m with leverage between 70 and 75 per cent loan to value. A minimum term of nine months also applies.
The firm has launched an enhanced proc fee previously in an initiative called Proctober in 2021, where a proc fee of 2.25 per cent was available for heads of terms issued in October that funded on or before 24 December.
Catalyst also donated to Motor Neurone Disease Association as part of the initiative.
Catalyst: Prococtober comes early
Chris Fairfax (pictured), CEO at Catalyst, said that Proctober had come early this year and it was “delighted” to offer brokers the ehanced proc fee incentive this Spring.
“Catalyst has the backing of fantastic investors and funders who realise top quality risk has proven more challenging to originate within a competitive landscape. They, and we, feel positive about the short- to medium-term market; we understand the opportunities and have a strong appetite to lend,” he said.
“So, as well as the significant improvements made to our pricing and leverage last week, we are kick-starting our drive for new business with a Spring broker incentive. We look forward to not only providing brokers with competitive funding solutions for their clients but also an extra reward for their support.”
Anna is currently the deputy editor for Mortgage Solutions and editor for Specialist Lending Solutions. She has worked as a journalist since 2019, having secured her Gold Standard NCTJ diploma from News Associates in a fast-track six-month course.
She started her career as a report at specialist publication The Insurance Insider covering a wide range of areas before joining Mortgage Solutions and Specialist Lending Solutions in 2021.
In her role, she helps put together and structure the news agenda for the day and writes up press releases, reports, interviews, analyses and exclusives across both titles. She also commissions blogs for Specialist Lending Solutions and hosts online masterclasses and in-person events across the business.
She has been shortlisted for three journalism awards, which include BIBA Journalist and Media Awards Scoop of Year Award in 2020, Headline Money Mortgage Journalist of the Year Award (B2B) in 2022 and 2023.
Prior to being a journalist, Anna worked in ecommerce across Snow + Rock, Cycle Surgery and Runners Need websites, and before that worked at specialist financial PR firm Rostrum.
In her spare time, Anna enjoys reading, seeing live music, and cooking for friends and family. When she gets a chance, she also enjoys hiking, skiing and indoor rock climbing.