Trustguard boosts proc fees

The packager is increasing procuration fees by up to 0.25 per cent on products available from lenders on its packaged lender panel, pushing the total fee paid to the introducer to as much as 1.50 per cent. A typical mortgage of £140,000 will now provide a procuration fee of £2,100.

Application fees have also been cut to £99 and, if the application does not proceed as far as valuation, the fee will be refunded in full.

The improved terms apply to all lenders on the Trustguard panel.

Sian Brown, national sales manager at Trustguard, said: “Trustguard has always been one of the top packagers for broker procuration payment and this move ensures that we are providing our partners with the best rewards available.”