Chorley Building Society has introduced procuration fees for all residential and buy-to-let product transfers.
The Society says the move comes after feedback from brokers and "is a reflection on all the detailed work needed to complete a product transfer".
The introduction of the 0.2% fee comes into effect from today.
Liz Pearson, head of operations at the Society. commented: “Our intermediary network is at the heart of our business. We recognise and value the level of service they provide to our members throughout the lifetime of their mortgage, ensuring they continue to get the best outcomes. We are so pleased to be introducing a procuration fee for our intermediary network in recognition of the service they provide.”
Shane Dye, senior business development manager, added: “The introduction of proc fees to our intermediary network demonstrates the value we place on the ongoing support they provide our members. We understand that in the current economic climate, members will be proactively speaking with their brokers and we are very supportive of this approach. I’m looking forward to talking to our network about how we can continue to work together in partnership to support our members and provide the best outcome for them.”
