Newcastle increases proc fees

The change, affecting brokers advising and introducing residential mortgages, will take place from March 17.

Steven Marks, corporate development executive at NBSIS, said: “We are aware there are increasing demands on brokers and wish to ensure they are properly rewarded for the invaluable job they do.

“Mortgage brokers are an essential part of our business and we have a long-term commitment to working with them. This increase is representative of that. This positive change also ensures we have the strongest proposition possible for our intermediary partners.”

Newcastle’s more than doubled the number of completions in 2013 compared to 2012, with products proving especially popular with first-time buyers.

NIS’ recognised partners are Legal & General, Openwork, Sesame, PINK, TMA, First Complete, Intrinsic, Positive Solutions and Brilliant Solutions.