NatWest doubles maximum procuration fee to £20,000
NatWest has announced that it is increasing its maximum procuration fee payable to brokers.
Following market feedback from brokers, NatWest is increasing its maximum procuration fee for residential, buy-to-let and product transfers from £10,000 to £20,000.
The change will be applied to new applications submitted from today.
Last year, NatWest simplified and reduced its valuation fees and the new price bandings are as follows (if brokers select a product with a valuation fee):
• Purchase price or property value up to and including £3million = £102 + £75 admin fee = £177,
• Purchase price or property value above £3million = £1,380 + £75 admin fee = £1,455.
Breaking news
Direct to your inbox:
More
stories
you'll love:
This week's biggest stories:
This week's biggest stories:
Santander
Santander launches 98% LTV ‘My First Mortgage’
First-time Buyer
Improved affordability sparks 20% rise in first-time buyers: Nationwide
Inflation
Further rate cuts dampened as inflation rebounds to 3.4%
Mortgage Rates
Two Big Six lenders increase mortgage rates as swaps rise
Interest Rates
Looser Fed policy stance could slow further rate cuts, policymakers warn
Bank Of England
Bank of England holds interest rates at 3.75% in narrow 5-4 vote