Coventry for Intermediaries introduces Proc Fees on further advances

We’ve got good news

We’ve introduced proc fees on further advances

We value the business you place with us, which is why we’re pleased to announce that we will now pay a new business proc fee on all completed further advances.

Proc fees will only be eligible for payment on applications received from today (18th April 2024) where a payment is quoted on the illustration, and the first payment date will be in May.

What you need to know

  • Payments will be made at your usual new business rate
  • There is no minimum payment
  • Payment will be made monthly through your nominated payment route
  • Payable on all completed residential and Buy to Let further advances

Top Tip
We know speed is important. To help minimise processing times and to make it as straightforward as possible for you, as soon as you speak to your client, make sure to check if any of their details have changed. Updating these as early as possible will help reduce any delays in the process.

 Keep your eyes peeled for process improvements to follow as we further enhance MSO functionality.

Check out our product range

A further advance is a great way for your client to borrow more against their current property, especially with our Green Further Advance options.