Newcastle to launch 0.20% proc fee for product transfers

Michael Lloyd

January 21, 2019

Newcastle Intermediaries will launch a product transfer process paying brokers a proc fee of 0.20%.

After a successful product transfer trial with L&G Mortgage club the lender is now expanding the process to all registered intermediary partners.

Steve Carruthers, head of mortgage distribution at Newcastle Intermediaries, said: “We have been gaining feedback from brokers on what they want from product transfers and we’ve developed a product transfer process for all of our broker partners.

“I’m pleased to announce that our product transfer process is now available and products will be available on sourcing systems.”

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