The Nottingham Building Society is to raise its procuration fees to 0.40% in January.

The move is part of a package of changes from The Nottingham aimed at offering a better service to intermediaries in 2015.

The new fees come into effect on 6 January for both residential and buy-to-let business and the maximum fee will increase from £1,500 to £2,000.

It will apply to all new business and any existing applications that are at a pre-offer stage on 6 January.

Chris Parker, head of intermediary sales at The Nottingham, said: “As a 100% intermediary business we really value the business advisers provide. After another record intermediary lending year in 2014 we want to ensure that 2015 is even more successful.

“We pride ourselves on delivering an excellent service to advisers and following a review of our procuration fees we believe the increase rewards advisers for submitting well packaged quality applications to The Nottingham.”