Darlington Building Society has announced that it will pay procuration fees to brokers for providing advice on product transfers.

The society will now pay 0.2 per cent for mortgages maturing on or after the 31 March 2020.

Furthermore, on a like-for-like transfer, there will be no further client credit checks to undertake, and no added legal or valuation costs. The firm adds that payments for the transfer will be paid within 10 days of the transfer taking place.

Darlington Building Society chief customer officer Darren Ditchburn says: “Borrowers’ circumstances, as well as market conditions, change over time and therefore it is important that borrowers have access to a full range of mortgage advice options at all times of the mortgage lifecycle.

“We understand the crucial role brokers play in reviewing and advising borrowers on their options at the product maturity stage and are therefore pleased to be able to pay procuration fees where this service has been provided to our members.”