Coventry introduces 0.30% proc fee for resi product transfers

Ryan Bembridge

October 27, 2017

Coventry for intermediaries has launched a 0.30% proc fee for residential product transfers.

The society started paying a proc fee for buy-to-let product transfers in April.

Kevin Purvey, director of intermediaries, said: “We committed to introducing proc fees for all product transfers during 2017 and I’m delighted that we’re delivering on that.

“Product transfers are becoming an ever increasing part of the market and we recognise the work that intermediaries have to undertake in order to give advice.

“And our open transfer policy means that brokers’ clients who already have a mortgage with us can apply to transfer to any mortgage from our current range on the same terms as new clients.

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