NatWest has upped its maximum procuration fee payable from £10,000 to £20,000.

This counts for residential mortgages, buy-to-let mortgages, and product transfers.

It will be applied from 19 January and on new applications from that date.

Earlier this month, the lender cut its rates by up to 50 basis points and brought new residential mortgage products to market.

NatWest says it has made the change “following market feedback from our brokers.”

In a note, NatWest adds a reminder that it simplified and reduced its valuation fees last year in the following way:

Purchase price or property value up to and including £3m= £102 + £75 admin fee = £177.

Purchase price or property value above £3m= £1,380 + £75 admin fee = £1,455.