Purely Mortgages has decided to go from no-fee to low-fee from June 1.
Chief executive Mark Chilton says the firm was faced with the decision to either sustain its service levels and USP and change to a moderate fee or go back to a low service proposition without a fee.
It wil be charging 195 standard fee regardless of client status or loan size. The fee will be added on at completion stage.
Chilton says: “We remain utterly committed to the whole of market. The market wants speed, service of execution. Our low-fee position is recognition of this.”