L&C Mortgages, the UK’s largest fee-free mortgage broker, has calculated that it saved customers more than £33m in 2025 by not charging broker fees.
The broker completed mortgages for more than 65,000 customers during the year, without charging a fee. A recent FCA consultation paper noted that the average broker fee paid by customers in 2024 was £510, suggesting that the absence of fees delivered a significant saving for L&C customers.
The firm said the benefit was particularly important for borrowers showing signs of financial vulnerability, for whom upfront and added costs can have a disproportionate impact.
Alongside fee-free advice, L&C said its Rate Check service delivered further savings of more than £29m. The service allows customers to monitor changing mortgage rates and switch to more competitive deals if pricing improves after an application has been submitted.
By combining fee-free advice with rate switching, L&C said total customer savings exceeded £60m over the year.
Mark Harrington, chief executive officer at L&C Mortgages, said: “2025 brought challenges for customers and advisers alike but I’m proud that L&C has stuck to its winning formula of fee-free advice from right across the market, helping customers seek out the very best value.
“The recent FCA consultation pointed to the average broker fees that customers are charged and felt like the justification to point more customers towards execution only. The cost of this fee, when added to the loan, is significant over the life of a mortgage.
“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 one 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 and continue to be the UK’s favourite mortgage partner, helping even more customers without charging a fee or loading protection premiums.”
