Procuration fees and payment dates
Purchase, remortgage, additional borrowing (further advance) and porting application procuration fees
For purchase, remortgage, additional borrowing (further advance) and porting applications, the procuration fees are paid each Monday for completions up to two weeks previous. So you can expect to receive procuration fee payments between 7 and 13 days after completion.
The table below shows when mortgage clubs/company networks will receive the fee payments:
|Day of completion||Fee received on|
|Monday||Monday (7 days after completion)|
|Tuesday||Monday (13 days after completion)|
|Wednesday||Monday (12 days after completion)|
|Thursday||Monday (11 days after completion)|
|Friday||Monday (10 days after completion)|
Please note, payment dates may change slightly over bank holidays.
Rate Switch procuration fees
For rate switch applications, the procuration fee will be paid the second Monday of the month once the switch has taken place. For example, if you've successfully set the switch up in February 2020 for 1 March, then you'll be paid your fee on Monday 9 March.
We pay a gross procuration fee of 0.20% for new rate switch applications. The fee will appear on the Mortgage Illustration/Offer and you'll be paid via your usual mortgage club or network.
Payment detailsWe’ll pay your fee to the channel you selected in the application, and then they'll forward the payment to you.
Contacting us about a procuration fee
If you have a general query about procuration fees, you can contact one of our experienced advisers on Broker Chat. If you're looking for information on a specific fee payment, please send an email to firstname.lastname@example.org
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.
Please allow a minimum of seven days for mortgage clubs/networks to distribute payments before contacting us.