Pink Home Loans has launched a special procuration fee offer for advisers that submit cases for packaging, the lender announced

Pink Home Loans is offering a £100 enhancement on procuration fees to advisers who submit cases to its packaging team.

Brokers who submit cases through Pink's online sub-prime decision in principle system before 25 April and then go on to put the case through Pink's packaging division are entitled to a £100 additional procuration fee when the mortgage completes. Advisers who do not use the online application system can print off a voucher from the website to submit along with the paper application in order to qualify for the bonus fee.

Neil Hoare, associate director of marketing and IT for Pink, said: "The online decision in principle is proving to be a valuable tool for brokers and we are seeing the numbers using it increasing each month, especially as deals are becoming harder to come by. The enhancement of proc fee has been welcomed by our intermediary customers and will give a boost to their incomes while the market is still in a period of uncertainty."

Dan McGeehan, director of Glasgow-based mortgage broker Seamless Mortgages, said: "A number of packagers are offering incentives at the moment, such as enhanced proc fees, in order to increase caseflows. I do not do much in the way of adverse business but when I do I always use a packager as they have generic application forms so that when a lender withdraws a product the application can be easily submitted to another lender without having to go through the whole process again.

"The other advantage with lenders pulling products so frequently is the fact that packagers are often given a longer period in which to submit cases than brokers."

Source: http://ftadviser.com/FinancialAdviser/Products/News/article/
20080410/9de8b06a-00c0-11dd-9a61-0015171400aa/Pink-offers-cash-for-packaging.jsp