Bristol & West is putting a greater focus on the sub-prime market by increasing the procuration fees on all its adverse-credit products.
Brokers submitting applications for any of the products in B&W's adverse-credit range can get an enhanced proc fee of 1.5 per cent, up from 1 per cent for an initial period of six months.
The new rate applies to applications received and completed on or after February 2. Applications received before this date but which complete after it will not benefit from the higher fee.
Head of marketing Dominic Toller says: “Bristol & West Mortgages are pleased to be able to offer increased procuration fees to brokers while providing the same comprehensive adverse-credit range.”
Ethical Mortgage Solutions founder Steve Royal says: “Obviously, our network, which specialises in sub-prime mortgages, welcomes this move from Bristol & West. It is a recognition of the extra work and attention needed to give a good deal to a sub-prime customer, as the complexity of these cases means that they can take a lot longer to complete.”