Insight from fee-free broker L&C Mortgages found that this applied to 91% of clients aged 18-34, compared to 64% of those aged 45-54 and 42% of borrowers aged over 55.
Further, the firm found that younger borrowers were also more likely to be charged a percentage of the mortgage value.
Some 49% of 18-34-year-olds paid a percentage-based fee, more than double the 21% of 45-54-year-olds who did the same. Only 9% of mortgage clients aged 55 and older paid a percentage fee.
Two-thirds of the younger borrowers who paid a percentage fee were charged between 0.5% and 1% of the mortgage amount. Among those who paid a flat fee, 96% of clients aged 18-34 were charged between £250 and £999.
L&C Mortgages said that, as most first-time buyers tended to be younger, they were more likely to pay more for mortgage advice than older, more experienced borrowers.
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Further, 53% of borrowers aged 18-34 said they felt pressured by an estate agent to use their recommended or connected broker, compared to 22% of 45-54-year-olds and 12% of the over 55s.
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.”
