Family BS to pay retention proc fees

The Family Building Society is now paying retention fees to brokers on advised product switches and further advances for existing borrowers under both the Family Building Society and the legacy National Counties brand.

Related topics:  Mortgages
Rozi Jones
27th March 2017
pig piggy bank business save
"We continue to build strong relationships with our introducing brokers and panels, who play a pivotal role in advising many of our clients"

Brokers will be able to access the full range of fee-free products available to existing customers for product switches. Family Building Society will pay a retention fee of 0.20% for product switches and 0.25% for further advances.

Cammy Amaira, Head of Intermediary Sales at the Family Building Society, said: "We are delighted to announce this move, which we heralded last month. We continue to build strong relationships with our introducing brokers and panels, who play a pivotal role in advising many of our clients, typically the non-standard borrowers who are poorly served by the big High Street lenders.

"We reviewed matters to determine the appropriate and competitive level of retention fees and have implemented the required system changes. We promised full details by the end of March and this is a commitment we have kept."

More like this
Latest from Property Reporter
Latest from Protection Reporter
CLOSE
Subscribe
to our newsletter

Join a community of over 30,000 intermediaries and keep up-to-date with industry news and upcoming events via our newsletter.