Accord to introduce 0.30% retention proc fee

Ryan Bembridge

February 22, 2017

cash money pound notes £10 £5 £20

Accord Mortgages will introduce a retention proc fee of 0.30% on retained residential mortgage business in the coming months.

The intermediary-only lender of Yorkshire Building Society Group has extended its pilot to a wider number of broker firms after launching its original pilot last year.

The lender is also reviewing its buy-to-let retention proc fee policy.

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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