Saffron Building Society is removing procuration fee caps from its full product offering.
The news comes after the building society announced an increase in its maximum loan sizes last month.
The recent changes mean that the Society now offers £3m up to 80% LTV and £1m up to 90% LTV across its residential and buy-to-let products and £3m up to 80% LTV for self-build.
Before this announcement, the proc fee cap for Saffron’s residential and BTL product range was £10,000 and for self-build it was £20,000. There is now no limitation on proc fees for Saffron products.
Tony Hall, head of business development, said: “Since launching our larger loan sizes we’ve been delighted with the positive feedback from our broker partners about this big step forward for the Saffron range. We’re always looking for ways to improve our proposition, which is why we’re now removing proc fee caps from our entire range to simplify our approach and better support brokers who deal with larger loan sizes.
“What’s more, we’ve committed that this will be a longstanding offering for our residential, buy-to-let and self-build products, so brokers can be reassured that we’re a long-term partner for their larger loan cases.”
