The independent One Specialist Survey questioned over 200 brokers around the UK on their thoughts about being rewarded for retention.
- 98 per cent of respondents said that brokers should be paid procuration fees for remortgaging borrowers with existing lenders.
- 91 per cent of respondents said that paying a procuration fee on retained business does not go against treating customers fairly.
Tim Hague, director of BM Solutions, said: "We knew from our recent volumes that brokers obviously believed in this initiative. We were also convinced that if the best deal available for a customer is with their existing lender then placing repeat business does not go against TCF. I am glad that this research confirms what we believed - that brokers resoundingly agree. It once again shows BM putting consumers and brokers first and foremost in all of our developments."
