Santander unveils £400 minimum proc fee

Mortgage Introducer

February 10, 2017

Santander will pay brokers a minimum proc fee of £400 provided the loan is over £25,000.

The change will be rolled out across networks and mortgage clubs from 1 March and will be fully in place by 1 July 2017.

Brad Fordham, managing director of Santander for Intermediaries, said: “The work the intermediary market does is invaluable.

“We understand the amount of work that goes into new business cases, irrespective of the size of the customers mortgage and the introduction of a minimum procuration fee is recognition of this.”

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