The Beverley Building Society has increased the procuration fee it pays for new mortgage business to 0.40% from 0.35%.

The East Yorkshire Society will continue to pay 0.35% for the business that is actively retained, to reward intermediary loyalty.

Graham Carter, head of lending at the Beverley, said: “This is another signal of how much we value mortgage brokers and the business they put our way. We recognises the vital role they play in supporting mortgage customers and lenders alike in today’s challenging marketplace.

“We have made this change to ensure we remain among the most competitive lenders when it comes to looking after our introducers.”