We have today announced that we will be increasing our procuration fees range for intermediaries on our long-term fixed rate mortgage range for the 50-90+ age group.
The ‘Enhanced Procuration Fee’ is available on both our 20-year fixed rate and fixed for life mortgages and offers 1.10% gross upfront (providing the annual care call to customers is performed for the loan lifetime or 15 years, whichever is shorter).
This is coupled with our recently reduced ERCs across longer-term products.
Alison Pallett, Managing Director of Sales, LiveMore says:
“Our 20-year fixed rates and fixed for life products are unique in the over 50s mortgage space.
We believe more people will choose longer-term fixes; this is reflected in our new Enhanced Procuration Fee. Intermediaries can alternatively choose the Standard Procuration Fee or earn 0.13% across products with our Ongoing Procuration Fee, paid annually if contact is made with clients annually for up to 15 years.
We fully recognise the work that intermediaries put in to give customers the longer-term certainty and stability they require, this increase is a small, additional reward for your efforts.”
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