L&C Mortgages said mortgage completions were up 15% on 2024 and added that it surpassed over one million applications in 2025, a landmark in its 25-year history.
The broker firm’s Rate Check service also helped save customers more than £29m as it helped them keep track of fast-moving rates.
L&C Mortgage said switching customers to better rates as they became available boosted the broker fee savings for customers to more than £60m in 2025.
Figures from the Financial Conduct Authority (FCA) suggest that the average broker fee paid by customers in 2024 was £510, which L&C Mortgages said showed that customers were saving significantly by using its fee-free service.
A Freedom of Information (FOI) request sent to the FCA by this publication found that around 55% of brokers were charging no fee, a figure that has been steadily rising since 2019.
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Mark Harrington (pictured), L&C Mortgages’ CEO, 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.”
He added: “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.”
