Quantum has increased the proc fee payable to its registered intermediaries by up to 30 bps, which on average would see them receive an additional £630 per completed loan.
This brings the remuneration paid to directly authorised brokers to 0.70% of the loan amount – that’s up from 0.40%.
Networks and mortgage clubs will receive 0.75% — up from 0.50% — while packagers will get 1.10%, up from 0.80%.
Jason Neale, managing director at Quantum said: “Our intermediary partners are facing a double threat to their incomes this year, in the shape of continued high inflation and the expectation that BTL business could reduce.
“Not only could they see a decline in revenue, the cost of living crisis also makes whatever income is generated worth less in real terms.
“We exceeded all targets in our first year and were considerably below our operating budget, which gives us the opportunity to review our fee structure and generate more income for our valued intermediary partners.”
