L&C Mortgages welcomes Charcol’s move to free advice

L&C Mortgages, UK fee-free mortgage broker, welcomes the news that Charcol has decided to remove its broker fee for phone-based advice and will now only charge a broker fee through its face-to-face arm.

The L&C model has been built around the principle of whole of market advice without charging a broker fee. Its success has led to rapid growth and L&C placed £5.16bn in mortgage applications in 2007, none of which carried a charge to the customer for advice.

Our commitment to offering truly whole of market advice saw applications submitted to 92 different lenders over the year.

David Hollingworth, Head of Communications at L&C commented, “We have been banging the drum for fee-free advice for a long time now and estimate that our customers saved more than £21m in broker fees last year. With an ever more complex mortgage market, access to whole of market mortgage advice is now required more than ever.”

For free advice borrowers, visit www.lcplc.co.uk.