Retention proc fees

20 March 2017

Broker retention fees announced

Principality Building Society intends to introduce retention procuration fees later this year.

The Society is pleased to announce that it will pay a retention procuration fee of 0.20% to intermediaries for recommending a product transfer.

Shaun Middleton, Principality Building Society’s Head of Regulated Sales and Intermediaries, said:

“As part of our ongoing commitment to our broker partnerships and the intermediary market in general, we’re pleased to confirm that we will be paying a retention procuration fee of 0.20%. We’re making these changes to reflect the work done by brokers in cases where a product switch, rather than a re-mortgage, is the best advice for the customer. We are currently developing the system functionality to allow for this launch.”

Click here to visit the Intermediaries website.

Published: 20/03/2017