Commercial premium finance provider Aascent has abolished all its premium finance fees for clients.

Aascent said it will not charge fees for a range of services including administration fees, set-up fees, late payment fees, cancellation fees, credit card processing fees.

The company said this will save each Aascent client on average around £45-£50 in fees per deal.

Ed Ferrell, Aascent's director of sales and operations said: "The rationale behind abolishing all fees is to provide a more flexible and transparent service to our broker partners which will in turn help them build closer relationships with their clients and better future profits."

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