Following a successful trial, this is now expanding to all registered intermediary partners. This will allow brokers to process product transfers through Newcastle Intermediaries and receive a retention procuration fee.
Retention products will be live on sourcing systems to coincide with maturity letters that have just landed with customers with a product maturing in March and April.
These letters include details of the maturity product offerings and the details required for brokers to be able to source a product on sourcing systems. Some of these customers will therefore be ready to discuss moving to a new deal. Details of the process can be found here.