NatWest is increasing its maximum procuration fee payable, following market feedback from brokers.

The bank is increasing its maximum procuration fee for residential, buy-to-let and product transfers from £10,000 to £20,000.

This change be applied to new applications submitted from 19 January.

Last year NatWest simplified and reduced its valuation fees. The new price bandings are as follows (if brokers select a product with a valuation fee):

• Purchase price or property value up to and including £3 million = £102 + £75 admin fee = £177
• Purchase price or property value above £3million = £1,380 + £75 admin fee = £1,455