We’re delighted to announce that we have taken the decision to increase our gross procuration fee for new business from 0.5% to 0.55% effective from Friday 31st January 2025.
At Fleet, we are acutely aware that the workload for advisers continues to grow, particularly in a highly competitive marketplace. We understand that regulation such as Consumer Duty requires you to do additional work when it comes to keeping on top of available products so you can continue to deliver a positive customer outcome.
We’ve decided to make this increase because we value the work advisers like yourself are doing and the advice you are providing, and we appreciate you choosing to recommend Fleet to your landlord borrower clients.
The increase to procuration fees for new Full Mortgage Applications will come into effect at: 09.00am on Friday 31st January 2025.
Additional Criteria Changes
Furthermore, we are always listening to the feedback that you share with our team, and we’re pleased to confirm that we’ve made the following improvements to our lending criteria:
- We now accept TR1s: To move us firmly back into the day one remortgage space, we now accept TR1s to allow us to go to offer, with Land Registry not having to be fully updated until completion
- Minimum floor area for flats reduced to 30sqm: We have reduced the minimum internal floor area for flats to 30sqm, no longer just for studio flats