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TMA increases proc fees

The Mortgage Alliance has some increased its procuration fees it pays intermediaries.

It has increased the fees for Northern Rock mortgage products by 10 basis points from 0.25 per cent to 0.35 per cent and has increased the fees it pays on Halifax products from 0.2 per cent to 0.3 per cent.

Money Marketing revealed LSL Property Services subsidiary First Complete had acquired TMA from Santander in July.

TMA head Phil Whitehouse says: “The increase in procuration fees and the increase in the number of exclusive products have both got to be good news for brokers, but we are working hard to bring in a raft of new improvements for our members to benefit from.”

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