The Mortgage Lender ups proc fees for distributors

Ryan Bembridge

October 3, 2016

The Mortgage Lender has increased its procuration fees by £300 for distributor business completing before the end of the year.

The additional proc fee is payable to distribution partners in addition to the agreed percentage fee and is not available to introducers placing business directly with The Mortgage Lender.

Pete Thomson, sales and marketing director, said: “Having successfully launched in mid-July and with a pipeline already exceeding £50m, we have been able to offer a market leading tracker rate of 1.98%.

“The last quarter of the year is where we had always planned to ramp up our sales activity. Our systems are tried and tested and we’ve already seen cases completing.”

The Mortgage Lender specialises in the self-employed, contract workers, people requiring lending into retirement and those with an imperfect credit history.

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