Mortgage Choice announces increase in procuration fees

They are to increase by up to 1.30 per cent of the advance, for business received by Mortgage Choice after 30th May 2005.

Sales Director, Doug Hall said: “We wanted to reward our customers, the intermediaries, by passing on the majority of the additional gross fee to them, contradicting the opinion of some industry commentators, who have suggested that procuration fees may well reduce.

All Directly Authorised intermediaries can benefit from the increase, as can members of our Strategic Partners which include:- PTFS, LIME, Inter Alliance, Lighthouse Loan, Positive Solutions and all affiliated members of The Mortgage Alliance (TMA).