Family Building Society has increased its procuration fee for owner occupier purchase and remortgage business from 0.35% to 0.40%, with the minimum fee now £180.
The fee change will apply for all new business completed from Tuesday 1 May.
The family mortgage proc fee remains unchanged at 0.55% as does the offset mortgage and all buy-to-let products which continue to pay 0.50%
Keith Barber, director of business development, said “Brokers have been instrumental in our continuing growth and it is important that they continue to share in our success.
“We are committed to building strong relationships with our introducing brokers, having substantially increased our team of business development managers in the last three years.
“Brokers play a pivotal role in advising the majority of our clients who are typically the non-standard borrower such as the self-employed, older, retired borrower and others in complex circumstances often poorly served by the big high street lenders.
“The increase in our proc fee recognises the additional work that is often required by the broker in successfully submitting these cases.”