Network Data enhances procuration fees

Amanda Jarvis

March 12, 2003

It now pays 0.40% (min £175) on all UCB applications, whilst the minimum and maximum fees for Abbey National and Nationwide have also been increased.

Commenting on these increases, Terry Young, head of mortgage operations at Network Data, said: “Our overall business proposition and model is based on operating in a high volume, low margin environment which enables us to deliver real value for money to intermediaries.

“Recent announcements also demonstrate our strategy to broaden members earnings potential through one relationship, in order to operate profitably in what will undoubtedly be a more competitive and challenging market.”

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