Progressive Building Society have announced some forthcoming changes. See below for details. For current product information, lending criteria etc their intermediary website can be accessed here REMEMBER, you can also speak to our dedicated Specialist team for more information or guidance.
Progressive rate change reminder
With the upcoming rate reduction going live tomorrow I thought I would remind you of our process if an applicant wants to take advantage of a rate reduction.
Rate Change Process – Policy Change
Progressive values the feedback we receive from our broker partners. Currently, should you request a rate change after an offer has been issued, you need to rekey the application. You have told us however that you would like us to be more flexible in allowing your clients to change their product after an offer has been issued if a better rate becomes available.
We are delighted to advise you that we will be changing our policy for all applications submitted on or after Monday 2nd October 2023. For applications submitted on or after this date, you can request a change to the rate requested even if the offer has been issued. We will make the change, subject to the attached process which outlines how to make a request and when we may need additional documents. Please note, for all changes we will require the attached ‘Product Change’ form to be submitted. This form will be available to download at www.progressiveforintermediaries.com/literature
**Please note that, where an application was submitted prior to 2nd October and an offer has been issued, a rekey of the application will still be required should you wish to amend the rate.**
Please do not hesitate to get in touch with your dedicated BDM for any new business enquiries or our Broker Support team on 0800 0294 997 should you need any other support.