The Family Building Society is to pay mortgage brokers retention fees this year.
The mutual will pay fees both for advised product switches and for advised further advances in 2017. Retained mortgages that were previously completed under the National Counties brand will also be included.
Cammy Amaira, head of intermediary sales at the Family Building Society, said: “We continue to build strong relationships with our introducing brokers and panels. Customer outcomes are very important to us as a lender and brokers play a pivotal role in advising many of our clients, typically the non-standard borrowers who are poorly served by the big High Street lenders.
“We feel that brokers should be rewarded for their diligence and paying retention fees is the right thing to do. We are reviewing matters to determine the appropriate level of retention fees and implement the required system changes. We will announce full details at the end of March.”