TMW to begin paying retention proc fees in August

Ryan Bembridge

July 24, 2017

The Mortgage Works will begin paying retention procuration fees of 0.20% from 1 August.

Nationwide has invested in online systems to add the functionality allowing brokers to switch products and be paid a proc fee.

Paul Wootton, managing director of TMW, said: “We announced that we would be offering procuration fees for retention business earlier this year, and we are now able to do so for TMW.

“We have long valued the support and hard work of our intermediary partners and we are pleased to be in a position now to roll out retention procuration fees.”

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