Newcastle Intermediaries has launched a product transfer process paying brokers a procuration fee of 0.20%.
Following a product transfer trial with L&G Mortgage club, the lender is now expanding its product transfer process to all registered intermediary partners.
Steve Carruthers, head of mortgage distribution at Newcastle Intermediaries, said: “We have been gaining feedback from brokers on what they want from product transfers and we’ve developed a product transfer process for all of our broker partners.
“I’m pleased to announce that our product transfer process is now available and products will be available on sourcing systems.”