West Brom increases proc fees
The West Brom for Intermediaries has increased its residential mortgage procuration fee payable to brokers.
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The increase of five basis points takes the fee to 0.40% paid on completed new mortgages submitted from today.
The West Brom for Intermediaries is part of the West Brom, the UK’s seventh largest building society, and offers a range of residential mortgages at loan to value ratios of up to 90%.
National account manager Richard Scott said:
“We have reviewed procuration fees in order to maintain a competitive position in the market and to reflect the key role brokers play in supporting the growth and success of the West Brom’s lending plans.
“Since resuming lending activity in the intermediary market in 2012 we have enjoyed fantastic support from our distribution partners and increased our business volumes year on year. We look forward to continuing to build on this success.”
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