L&C Mortgages claims to have saved its customers over £33m by not charging broker fees last year.
L&C – the UK’s largest fee free mortgage broker – completed mortgages for some 65,000 customers in 2025, all without charging a fee.
A recent FCA consultation paper noted that the average broker fee paid by customers in 2024 was £510.
In addition, L&C’s Rate Check service helped customers keep track of fast-moving rates, saving them more than £29m.
Rate Check helps customers to be sure that they not only get the right deal when they apply but that they also move onto keener deals if interest rates improve.
Switching customers to better rates as they became available boosted the broker fee savings for L&C customers to total more than £60m in 2025.
Mark Harrington, chief executive officer at L&C Mortgages, says: “Our belief is that not charging a broker fee enables more homeowners and buyers to access advice on the best deal for them, especially important at a time when more customers are displaying vulnerabilities of all varieties.
“It’s particularly significant in the year that saw us push through the proud milestone of 1 million mortgages.
“Fee free advice and helping customers navigate market volatility with Rate Check helped L&C grow our year-on-year volume again last year. We’re excited to continue that growth this year.”
