We've increased procuration fee we pay for product switches

We've increased the procuration fee we pay for product switches from 0.20% to 0.30%.

It comes as part of a wider review of our product switch retention process which now includes the introduction of an online intermediary product switch tool.

Kathy Bowes, Intermediary Manager said: "The advice intermediaries give to their clients is just as important when the existing product matures as it was when they first arranged the mortgage.”

"We understand the importance of following a thorough advice process to ensure customers get the best outcomes.

"We're increasing the procuration fee to show how much we value our intermediaries' ongoing support and the hard work they put into reviewing clients and recommending suitable solutions."

Clare Beardmore, Director of Distribution and Mortgage Club, Legal & General Mortgage Services said: “We welcome this step from The Cambridge as it rightly acknowledges the outstanding dedication and expertise of advisers, especially in what continues to be a challenging economic environment.”

“Advisers play a crucial role in guiding borrowers during what is likely to be their most significant financial commitment and it is just as important to get guidance in switching products as when you first sign the dotted line, so it is positive to see this acknowledged today.”

Our mortgage products can be found by clicking here.

All our mortgages are available on properties across England and Wales.

For more information contact the team today.