Buy a home in Britain — without the chaos.

Every UK mortgage broker must be authorised by the Financial Conduct Authority (FCA). It is a criminal offence under the Financial Services and Markets Act 2000 (FSMA) to provide regulated mortgage advice without FCA authorisation. Before choosing a mortgage broker, check their details on the FCA Register.

The three types of UK mortgage broker

• Whole-of-market — can recommend from every lender that pays a procuration fee. Best coverage. Examples: London & Country, Habito (fee-free); Trinity Financial, John Charcol (fee-based).
• Multi-tied — limited to a fixed panel of lenders (often 10–30). Coverage decent but not full. Watch for "panel" wording in the Initial Disclosure Document.
• Single-tied / appointed representative — can only recommend products from one lender. Usually a high-street bank's "in-branch mortgage adviser". Not a broker in the true sense.

How brokers get paid (and why it matters)

• Procuration fee from the lender — typically ~0.35% of the loan, paid to the broker on completion. This is how "free" brokers (Habito, London & Country) make money. The fee is the same across most lenders, so it shouldn't influence advice — but ask.
• Client fee — brokers may also charge you a fee. Typical: £0–£995 flat. Some charge percentage of loan (usually 0.3–1%). Some charge fees only on completion, some upfront.
• Hybrid — most fee-charging brokers also take procuration fee. They must disclose both in the Initial Disclosure Document (IDD).

Five questions to ask before signing

• 1. Are you whole-of-market, or what panel are you on?
• 2. Do you charge a client fee — if so, how much and when?
• 3. Do you also take procuration fee from the lender?
• 4. If my application is declined, do I owe you anything?
• 5. What's your FCA FRN? (then look it up yourself)

When you genuinely need a broker

Going direct to a high-street lender works fine for simple cases (employed, two-year payslips, clean credit, 20%+ deposit). A broker becomes essential when any of these apply:

How to find a verified broker

• FCA register direct — register.fca.org.uk — the canonical UK authority on which firms are authorised.
• MoneyHelper mortgage broker tool — moneyhelper.org.uk — government-backed free advice service.
• Unbiased.co.uk — directory of FCA-regulated UK mortgage advisers, filterable by location and specialism.
• VouchedFor — reviews of FCA-regulated advisers; verifies authorisation status before listing.

Anyone advising on a UK property transfer must be regulated by either the Solicitors Regulation Authority (SRA — for solicitors) or the Council for Licensed Conveyancers (CLC — for licensed conveyancers). Both are statutory regulators. Both maintain a public register. Don't instruct anyone whose name isn't on one of these two registers.

Solicitor vs licensed conveyancer — what's the difference?

• Solicitor — SRA-regulated legal professional with broader legal qualifications. Often best for complex property transactions, including probate sales, divorce-related transfers, leasehold disputes and other legal complications. Insurance: minimum £2M per claim. Typical residential fee: £1,000–£2,500 + disbursements.
• Licensed conveyancer — CLC-regulated property specialist focused on residential conveyancing, property transfers and home purchases. Often cheaper for straightforward freehold purchases. Insurance: minimum £2M per claim. Typical fee: £800–£1,800 + disbursements.

For a straightforward freehold property purchase, a CLC-regulated licensed conveyancer is usually sufficient. For leasehold properties (especially flats), probate sales, divorce-related transactions or complex legal issues, an SRA-regulated solicitor is often the safer choice.

What your conveyancer actually does

• Local Authority Search — planning permission, building control, road schemes, council tax band, conservation area status. Typical: £150–£300.
• Environmental Search — flood risk, contaminated land, radon, mining subsidence. Typical: £40–£80.
• Water & Drainage Search — confirms mains connection, identifies adopted vs private drains. Typical: £40–£80.
• Chancel Repair Search — checks for medieval parish chancel-repair liability (rare but unlimited if missed). Typical: £20.
• HM Land Registry official copies — Title Register + Title Plan. ~£3–£7 each.
• Draft Contract review — receives draft from seller's solicitor, raises enquiries.
• Leasehold report — reviews the lease (essential for flats): remaining term, ground rent, service charges, restrictive covenants. Adds £200–£500. What those terms mean for you long-term: our leasehold rights guide.
• Pre-exchange checklist — mortgage offer received, deposit funds cleared, contract signed, buildings insurance from exchange.
• Exchange of contracts — legally binding. Deposit (usually 10%) transfers; both parties locked in.
• Completion — balance funds via CHAPS, keys released, ownership transfers.
• SDLT filing — conveyancer files return and pays HMRC within 14 days of completion (statutory; £100+ penalty if late).
• HM Land Registry registration — registers transfer of title in your name. You formally become the legal owner on the public register.

Typical UK conveyancing fee breakdown (freehold purchase £291k)

Leasehold adds £200–£500 for lease review, freeholder/management-company enquiries, leasehold information pack (LPE1 form).

How to find a verified conveyancer

• Law Society Find a Solicitor — solicitors.lawsociety.org.uk — filter by "Residential conveyancing", verify SRA status.
• CLC Find a Lawyer — clc-uk.org/find-a-clc-lawyer — CLC-regulated licensed conveyancers.
• The Conveyancing Quality Scheme (CQS) — lawsociety.org.uk/cqs — Law Society accreditation.

If you're a first-time buyer (up to £500,000)

• £0 – £300,000 — 0% (no Stamp Duty)
• £300,001 – £500,000 — 5%
• Above £500,000 — FTB relief lost; standard rates apply on the whole purchase price

Worked example: FTB buying at £500,000 pays 5% on £200,000 = £10,000 SDLT.

Standard residential rates (not FTB, single property)

• £0 – £125,000 — 0%
• £125,001 – £250,000 — 2%
• £250,001 – £925,000 — 5%
• £925,001 – £1,500,000 — 10%
• Above £1,500,000 — 12%

Worked example: standard buyer at £400,000 pays 2% on £125,000 (£2,500) + 5% on £150,000 (£7,500) = £10,000 SDLT.

Additional property (second home, BTL, holiday let)

• Standard rates + 5% surcharge on every band (rates effective 31 Oct 2024).
• Applies if you own any other residential property anywhere in the world on completion day.
• Sold your previous main residence within 36 months and now buying? You may reclaim the surcharge.

RICS Home Survey Level 1 — Condition Report

Cost: £300–£500. Basic visible-condition report. Traffic-light ratings on key elements. Suitable for: conventional, modern (post-2000), good-condition properties. No advice on repairs, no valuation.

RICS Home Survey Level 2 — HomeBuyer Report

Cost: £400–£700. Standard residential survey. Covers structure, services, environment. Highlights urgent + ongoing issues. Includes valuation. Suitable for: most conventional UK properties built since 1900 in reasonable condition.

RICS Home Survey Level 3 — Building Survey (full structural)

Cost: £600–£1,200. Full investigation including roof void, hidden defects analysis. Essential for: properties >100 years old, non-standard construction (cob, concrete, timber-frame), extensively altered, listed, suspected damp/subsidence, ex-local-authority high-rise.

How to find a RICS-regulated surveyor

• RICS Find a Surveyor — ricsfirms.com — canonical UK chartered surveyor directory.
• Look for "MRICS" or "FRICS" after their name. "AssocRICS" is associate-level (also acceptable for residential).

SortedUK is not an FCA-regulated mortgage adviser and cannot recommend a specific mortgage product. For regulated mortgage advice, use an FCA-authorised mortgage broker (see how to find one above) or MoneyHelper, the government's free money guidance service.

SortedUK is not an SRA-regulated solicitor and cannot act as your conveyancing solicitor or licensed conveyancer. We can point you to verified directories, but we cannot replace professional legal advice on a property purchase or transfer.

The figures and costs shown are typical UK home-buying averages and may not reflect your individual circumstances. Always verify important decisions with regulated professionals before proceeding.

If something here is wrong, please flag it at corrections@sorteduk.uk. We publish every correction at /corrections with the date and source.