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More action less talk on retention proc fees – Star Letter 08/01/2016

by: Mortgage Solutions
  • 08/01/2016
  • 0
Each week, we round-up the best comments, emails and letters to the site and pick one reader contribution as our Star Letter.

This week’s Star Letter goes to Stuart Rae Duncan for his comment on the story Proc fees and lender criteria top broker priorities in 2016.

If I had a tenner for every time a lender has claimed that retention proc. fees are being worked on, I would be pretty well off. It is seriously offensive that lenders like the The Mortgage Works insists and Santander actively encourages clients to use brokers for retention but do not pay any proc fees.

This should be a priority, not something that lenders pretend that they are working on in many cases.

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Each week Mortgage Solutions rounds up the most opinionated and thoughtful comments of the week.