Buy a home in Britain — without the chaos.

Every UK mortgage broker must be authorised by the Financial Conduct Authority (FCA). It's a criminal offence under the Financial Services and Markets Act 2000 (s.19) to advise on a regulated mortgage contract without authorisation. Before signing with any broker, look them up 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, broader UK legal qualification, can handle complex matters (probate-linked sales, divorce-linked sales, disputes). Insurance: minimum £2M per claim. Typical residential fee: £1,000–£2,500 + disbursements.
• Licensed conveyancer — CLC-regulated, specialises only in property law. Often cheaper for straightforward freehold purchases. Insurance: minimum £2M per claim. Typical fee: £800–£1,800 + disbursements.

For a vanilla freehold purchase, a CLC-regulated licensed conveyancer is usually fine. For leasehold (especially flats), probate-linked sales, divorce situations, or any unusual complication, an SRA-regulated solicitor is safer.

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.
• 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 £625,000)

• £0 – £425,000 — 0% (no Stamp Duty)
• £425,001 – £625,000 — 5%
• Above £625,000 — FTB relief lost; standard rates apply on the whole purchase price

Worked example: FTB buying at £500,000 pays 5% on £75,000 = £3,750 SDLT.

Standard residential rates (not FTB, single property)

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

Worked example: standard buyer at £400,000 pays 5% on £150,000 = £7,500 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. We cannot recommend a specific mortgage product to you. For regulated advice, use an FCA-authorised broker (see how to find one above) or MoneyHelper (free, government-backed).

SortedUK is not an SRA-regulated solicitor. We cannot act as your conveyancer. We can point you to verified directories but we cannot substitute for legal advice on a property transfer.

The numbers here are typical UK averages. Your actual situation may vary. Always verify with regulated professionals before commitment.

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