What mortgage brokers do

Mortgage brokers, formally mortgage intermediaries, arrange regulated mortgage contracts between borrowers and lenders. Under the Financial Services and Markets Act 2000, advising on and arranging regulated mortgage contracts are regulated activities: any firm carrying them on in the UK must be authorised by the Financial Conduct Authority or be an appointed representative of an authorised principal. The FCA's Mortgages and Home Finance: Conduct of Business sourcebook (MCOB) sets the conduct rules, including the requirement to assess affordability and to disclose how the firm is remunerated. Brokers differ in scope: whole-of-market firms can consider products from across the lender universe, while panel-based firms work from a defined list of lenders, and some are tied to a single provider. The scope of service must be disclosed to you before advice is given.

Regulation, and how to verify a firm

Check any firm on the FCA register at register.fca.org.uk before instructing it. The register entry shows the firm reference number (FRN), permissions, trading names, appointed representative relationships and any disciplinary history. A firm listed in this directory should always be cross-checked against its live register entry: directory listing is not authorisation, and authorisation status can change. Companies House records, which this directory draws on, confirm incorporation date, registered office and filing history but say nothing about regulatory permission: both checks matter. If a firm claims to be an appointed representative, the register shows its principal, which carries regulatory responsibility for the advice given.

Fees and commission

Mortgage brokers are typically paid a procuration fee by the lender on completion, a client fee charged directly to you, or both. MCOB requires clear upfront disclosure of remuneration. Client fees range from nothing at all, common for straightforward residential cases, to fixed fees of several hundred pounds or a percentage of the loan for complex cases such as adverse credit, self-employed income or large loans. Ask for the total cost in writing before proceeding, and ask whether the procuration fee differs between the products being recommended.

Questions to ask before instructing a firm

Are you whole-of-market, panel-based or tied, and which lenders can you not access? What is your firm reference number? How are you paid, and what will I pay you directly? Do you charge if the application does not complete? Who is your principal firm if you are an appointed representative? What protection do I have through the Financial Ombudsman Service and the Financial Services Compensation Scheme if the advice proves unsuitable?

How this index is compiled

Every firm in this index is drawn from public records and verified against the Companies House register for incorporation, registered office and active status. Where a sector is FCA-regulated, firms are cross-referenced against the Financial Services Register; where it is not, the listing states what verification is available instead. Each firm has a single dedicated page showing its registered details, and firms can claim their listing to correct or extend the public record. The index is refreshed as Companies House filings change, and firms that dissolve or cease trading are removed. Inclusion is free and automatic from public data: no firm can pay to enter, leave or reorder the editorial index, and paid tiers change presentation on a firm’s own page only. Errors can be reported through the contact page and are corrected against the primary record.

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