Vernon introduces retention proc fees and product transfer deals

28 March 2019

Stockport’s mutual Vernon Building Society has introduced retention proc fees along with its new range of product transfer products.

The same deals are available through intermediaries as directly from the lender. Brokers will be paid a 0.20% proc fee on completion on applications submitted from 1st April, when the new range goes live.

Tom Gurrie, intermediary sales manager at Vernon, said: “We are pleased to offer brokers the same choice of product transfer deals as our direct customers, across our whole lending range.

“Brokers have played a vital part in our recent growth and we want to recognise their importance to our future plans, whether they are introducing a new client or switching an existing borrower to another rate.

“Our new products and straightforward process make it easier for brokers to arrange a product transfer where they’ve found it is the best option for their client.”