Payments will be made on both residential and buy-to-let applications
Coventry for intermediaries has announced it will now offer procuration fees on all further advances upon completion of both residential and buy-to-let applications.
Brokers will receive these payments at their standard new business rate via their chosen payment method.
The additional borrowing is available on any new business product, provided they meet loan-to-value criteria.
Coventry Building Society also has Green Further Advance options, which provide lower interest rates for borrowers investing in energy efficiency improvements for their homes.
“If people want to borrow extra on their mortgage, chances are they’re going to turn to their broker for help,” said Jonathan Stinton (pictured), head of intermediary relationships at Coventry Building Society. “We have listened to feedback and want to remunerate brokers for the work and diligence in guiding their clients through this process.
“If clients are looking to make their home more energy efficient, they may be able to borrow at a lower rate with one of our Green Further Advance products. And they can even use the Home Energy Efficiency Tool on our website to see how much they could save on their energy bills.”
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