Vernon introduces proc fees and opens product transfers

Vernon Building Society has announced that as of 1 April, brokers will receive retention procuration fees.

Brokers will be paid a 0.20 per cent proc fee on the completion of applications submitted.

The lender has also stated that brokers will also be able to offer its product transfer deals that were previously only available directly.

Vernon Building Society intermediary sales manager Tom Gurrie comments: “We are pleased to offer brokers the same choice of product transfer deals as our direct customers, across our whole lending range.

“Brokers have played a vital part in our recent growth and we want to recognise their importance to our future plans, whether they are introducing a new client or switching an existing borrower to another rate.”

Add a Comment

Your email address will not be published. Required fields are marked *