Information:
You'll receive your procuration fees faster. From November, fees will be processed weekly instead of monthly. October fees will be paid monthly, as per the previous timings.
Procuration fees
Payment dates
Procuration fees for new lending are paid every Monday. You can expect to receive your procuration fee payment between 7 and 13 days after completion.
The table below outlines when payments will be received. Please note, payment days may change over bank holidays.
| Day of completion | Payment received after |
|---|---|
| Monday | |
| Tuesday | |
| Wednesday | |
| Thursday | |
| Friday |
Payment details
We’ll pay your fee to the channel you selected in the application, and then they’ll forward the payment to you.
Rate switch procuration fees
For rate switch applications, you'll receive procuration fee payment on the second Monday of the month, once the switch has taken place. For example, if you've set the switch up in March for 1 April, you'll receive your procuration fee on Monday 14 April.
We pay a gross procuration fee of 0.20% for new rate switch applications. The fee will appear on the Mortgage Illustration/Offer, and you'll receive payment via your usual mortgage club or network.
If you have a query about a procuration fee, you can contact one of our experienced advisers on Broker Chat or send an email to intermediary.support@themortgageworks.co.uk.
If you send an email to us, don’t forget to include the 8 digit mortgage account number (labelled as reference) so that your query can be dealt with efficiently. You’ll receive a response within 48 hours.