AFI proc fees to be based on quality

AFI proc fees to be based on quality

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Abbey for Intermediaries (AFI) is introducing changes to its procuration fee policy.

This is believed to mean than some accounts will see their proc fees reduce while others will receive larger proc fees.

“We are making some changes to the proc fees we pay on our core residential business,” said a spokesperson for Abbey for Intermediaries.

“This is in line with recent competitor changes in this area. We are committed to writing mortgage business that is good quality and to offering borrowers the right mortgage for their needs, and these changes support our commitment to working closely with our Key Account partners to achieve this.”