Catalyst to offer brokers 2.5 per cent proc fee

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.”