"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."