Procuration fees for retention business

We plan to pay all mortgage intermediaries who are on our panel of approved brokers a procuration fee for retention business; the fees will be introduced by summer 2018.

A procuration fee of 0.2% for retention business will be paid to intermediaries for all existing customers transferring onto a new product. 

Karen Smith, Sales Manager for Newbury Building Society, said: “We have always valued the support and hard work of our intermediary partners and would like to thank them for their business. We are pleased to announce our intent to pay a procuration fee for retention business later in 2018. We will be confirming an exact date for launch nearer the time.” 

Contact us to discuss your client's requirements today. Our Helpdesk is available 9am-5pm Monday to Friday, by calling 01635 918000.

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