The Hinckley & Rugby Building Society has increased the standard procuration fees it pays introducers for new mortgage lending.

The fees the Society pays introducers have increased from 0.30% of each advance to 0.35%.

Meanwhile, the maximum proc fee the Society will pay has increased from £750 to £1,250. The minimum fee remains at £225.

Hinckley & Rugby chief executive Chris White said: “With cheaper funding available, and the Bank of England’s Funding for Lending money about to come in, we are able to increase the rewards for introducers.

“We value our relationships with the hundreds of introducers who bring new customers to us and we hope these increased rewards will be well received.”