The changes to the proc fees will come into effect on 5 January.
It is understood that proc fees for products requiring greater advice complexity and customer support – such as shared equity, shared ownership and first-time buyer – will increase, while others like product transfers will fall.
Minimum fees of around £300 will be applied to further advances. and £750 for shared ownership.
The specific proc fees will depend on broker status or network.
In a note to brokers, LBG said the changes were part of a “strategic review” of proc fees across the brands to “ensure consistency and fairness” across its intermediary brands.
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LBG noted that for existing pipeline cases, the previous proc fee commission structures will apply, and this will be contingent on when the illustration of the quote was produced.
A spokesperson for Halifax for Intermediaries said: “We review our full range of procuration fees annually, ensuring they reflect the complexity of business advice and value brokers provide.
“Effective from 5 January, the new fees do this, and ensure we continue to offer fair value for mortgage customers and provide competitive guaranteed minimums to brokers.”
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