Clydesdale increases proc fees
Clydesdale Bank has announced that it is to increase the procuration fees it pays to brokers introducing new mortgage business.
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The Bank, which has grown its mortgage market presence with the support of brokers over the past few years, has announced it is increasing procuration fees for all brokers from 2 February.
The new, increased fees will be 0.40% Gross to Networks and 0.38% to Directly Authorised brokers.
John Tooth, Head of Intermediary Distribution at Clydesdale Bank, said:
“We’ve shown a strong commitment to the intermediary market through the ongoing development of products and services specifically designed for them. In turn, they have provided us with a successful distribution channel that has helped us grow our mortgage lending. It is a valuable relationship, and their support is appreciated.
“To ensure we, in turn, support our broker partners appropriately, we regularly review our proposition. As a result, I am pleased to be able to announce increased fees for both Directly Authorised brokers and Networks.”
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