Accord extends retention proc fee pilot before full roll out

Accord Mortgages is widening its pilot which pays brokers a procuration fee for retained business on residential mortgages.

Related topics:  Mortgages
Rozi Jones
22nd February 2017
David Robinson YBS
"We have decided to extend our pilot to coincide with a significant maturity period coming up which will give us a great opportunity to fine-tune this new initiative"

The intermediary-only lender, which is part of the Yorkshire Building Society Group, began piloting the scheme last year and has made the decision to extend it to a limited number of additional partners. The retention procuration fee under the pilot is at 0.30%.

By extending the pilot Accord hopes to develop and road test the initiative to identify any further improvements needed before it is rolled out to the full broker market.

David Robinson, National Intermediary Sales Manager, said: “We are committed to helping brokers build meaningful connections with their clients, and this involves recognising the effort they make to ensure borrowers get the right remortagage deal.  

“We have decided to extend our pilot to coincide with a significant maturity period coming up which will give us a great opportunity to fine-tune this new initiative and ensure it is fully robust before we make a decision to offer it market-wide.”

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