Procuration fees for all new purchase and remortgage applications are paid by the 15th of the following month after completion. So if your client completes any time between 1-31 August, the procuration fee will be paid by 15 September.
From 21 August 2017, procuration fees will be paid for rate switch applications. The fee will be paid by the 15th of the month once the switch has taken place. For example, if you've successfully set the switch up in August for 1 September, then you'll be paid your fee by 15 September.
We’ll pay your fee to the channel you selected in the application, and then they'll forward the payment to you.
Switcher procuration fees
We now pay a gross procuration fee of 0.20% for new rate switch applications. The fee will appear on the KFI/Offer and you'll be paid via your usual mortgage club or network.
Contacting us about a procuration fee
If you're sending an email to us, don’t forget to include the 11 digit mortgage account number so your query can be dealt with efficiently. You’ll receive a response within 48 hours.