fbpx

ASTL2014: Sinclair: proc fees to hit 0.40pc by year end

Robyn Hall

September 16, 2014

Speaking at the Association of Short Term Lenders’ annual conference in London Sinclair said proc fees had started the year at 0.35% but will have increased significantly by the end of the year.

Sinclair said: “We have seen a significant increase in proc fees and I think that is in recognition of the amount of work that intermediaries are now putting into a case.

“The increases are a general reflection of what needs to be done by the intermediary to complete a case.”

And Sinclair said brokers could see an additional rise but that it was not guaranteed.

He said: “Next year will see a general levelling of proc fees but we could see in increase.”

In recent days both Leeds Building Society and the Skipton have become the latest lenders to raise their proc fees.


Sign up to our daily email