Proc fee alignment good for industry


Mortgages for Business claims HBOS's decision to align proc fees across its brands is good news for packagers.

HBOS announced it would align proc fees across all its major brands, including BM Solutions, though Mortgages for Business says many have been unhappy about the move. However, Nick Blunt, head of business partner development at Mortgages for Business, says the move is actually a recognition of the value of administrative and marketing services which packagers add. “By aligning proc fees across the market, HBOS is creating a level playing field from which every packager can add value through providing an enhanced and dedicated service to their brokers,” he explains. Mortgages for Business...

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