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hero Paragon announces procuration fee

Paragon announces procuration fee for switch products

  • Paragon Mortgages will pay brokers a procuration fee on switch products
  • Procuration fee to be paid at a rate of 0.25%
  • Fee payable on full range of Paragon Mortgages’ switch products

Paragon Mortgages today announces the introduction of procuration fees for brokers on its full range of switch products.

Paragon will pay a fee of 0.25% in recognition of the work intermediaries do to deliver good outcomes for existing buy-to-let customers. The procuration fee is payable only where the broker is acting on behalf of the customer in the product switch process.

John Heron, Managing Director, Paragon Mortgages, said:

John Heron
Paragon will pay a fee of 0.25% in recognition of the work intermediaries do to deliver good outcomes for existing buy-to-let customers. The procuration fee is payable only where the broker is acting on behalf of the customer in the product switch process. .
Where a broker recommends a Paragon switch product and is proactively engaged in the process, we believe that it is appropriate that the intermediary is rewarded.
Paragon Mortgages is a trading style of Paragon Mortgages (2010) Limited (Registered in England No:6595834) and Paragon Bank PLC (Registered in England No:05390593). Paragon Bank PLC is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Paragon Bank PLC is registered on the Financial Services Register under the Firm Reference No:604551. Registered office: 51 Homer Road, Solihull, West Midlands B91 3QJ.