Kent Reliance, part of specialist mortgage provider and retail savings group OneSavings Bank, has announced its decision to increase the procuration fees for product transfer from 0.25% to 0.30%.
OneSavings Bank sales director Adrian Moloney said: “We were the first specialist mortgage lender to pay a retention proc fee for product transfers. Two years into this journey, we are delighted to increase this fee in recognition of the additional work carried out by intermediaries on our behalf.”
Kent Reliance brokers will receive the 0.30% procuration fee within 30 days of the product switch becoming effective.
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