Following a successful pilot, Skipton has announced it will shortly be launching retention procuration fees to the whole of market. This will include a new online product transfer process on Skipton’s eMortgage system.
Procuration fees will be paid at a gross rate 0.30% for residential lending and 0.35% for Buy to Let lending and will be available to all brokers once the automated transfer service goes live.
Scheduled to go live on Monday 16 October, the automated product transfer service will host a variety of features to deliver a faster, more efficient service. Brokers can now see an overview of all their client’s maturing products together in one place and our new Loan to Value filter helps them to match products to their client’s requirements.
Brokers will need to be registered on eMortgages to use the new service, which can be done on the eMortgages section of the Skipton Intermediaries website.
For further information see Skipton’s product transfer user guide and frequently asked questions here.