Nationwide introduces weekly proc fee payments

From next week, Nationwide will begin processing its procuration fees every Monday, meaning brokers will get paid between 14 and 20 calendar days after completion.

Related topics:  Mortgages
Rozi Jones
14th February 2018
Nationwide, bank
"Reflecting the feedback from our intermediary partners, we can confirm we will now be working to a weekly payment run."

Procuration fees for product transfers will be paid on the second Monday of each month.

Ian Andrew, director of intermediary relationships at Nationwide, said: “With an ongoing programme of investing in our systems and reflecting the feedback from our intermediary partners, we can confirm we will now be working to a weekly payment run.

“This will increase the frequency and significantly reduce payment times for fees to brokers, regardless of the club or network used.”

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