Younger home buyers are far more likely than older borrowers to be charged for mortgage advice, according to new research from L&C Mortgages.

The study shows more than nine in 10 borrowers aged 18 to 34 paid a broker fee when taking mortgage advice, compared with 64% of those aged 45 to 54 and just 42% of borrowers over 55.

Younger borrowers are not only more likely to pay a fee, but also more likely to face charges linked to the size of their mortgage. Almost half of 18 to 34-year-olds paid a percentage-based fee, more than double the proportion among those aged 45 to 54, at 21%. Among borrowers over 55, fewer than one in 10 reported paying a percentage-based charge.

For younger borrowers paying a percentage fee, around two thirds were charged between 0.5% and 1% of the mortgage amount. Where a flat fee applied, more than nine in ten paid between £250 and £999.

With most first-time buyers falling into the younger age bracket, the findings suggest they are particularly exposed to higher advice costs at a stage when finances are often already under strain.

The research also points to the influence of estate agents. More than half of borrowers aged 18 to 34 said they felt pressure to use an estate agent’s recommended or connected broker. This compares with just over a fifth of those aged 45 to 54 and 12% of borrowers over 55.

David Hollingworth, associate director at L&C Mortgages, said: “Younger borrowers are far more likely to be hit with broker fees, and often the more expensive types of fees. Mortgage advice is crucial for those with less experience, but that advice doesn’t need to come with an unnecessary, additional cost.

“Many younger buyers are already struggling with deposits, moving costs and rising living expenses. Adding hundreds or even thousands of pounds in advice fees only eats into deposit savings and increases the long-term cost.

“The key message is that borrowers do have a choice. Just as good advice can help save money on your mortgage, using a fee-free broker can make a real difference at one of the most financially pressured moments of someone’s life.”