The Best Online Mortgage Brokers in 2024 (UK)

A Snapshot of Top Mortgage Brokers in 2024

Best for Fee-Free Online Services:

• L&C Mortgages 
• Habito 
• Mojo Mortgage

Better.co.uk – Best for Fast Online Processing

John Charcol – Best for Complex Financial Situations

Tembo Money – Best for First-Time Buyers

Simply Adverse– Best for Bad Credit Solutions

L&C Mortgages

Best for Fee-Free Online Services

L&C Mortgages, known as London & Country, stands as the UK’s largest mortgage broker that charges you nothing. They earn from the lenders they work with, so there are no extra costs for you. 

Since 2000, L&C has been a key player, with offices in Bath, London, and Newcastle, showing their wide reach. Although they started with a focus on phone service, L&C now lets you begin your mortgage journey online. 

Starting with a simple 15-20 minute form, you can quickly move to a phone call to finalise details, blending modern convenience with their traditional, personal service.

Pros
– You get free mortgage advice and help.
– Online services are available 24/7
– They compare mortgages from 90 lenders.
– Safe and regulated by the FCA.

Cons
– Not a whole market broker. This means they don’t check every lender out there, so you might miss some deals.
– Some customers have mentioned slow service or difficulties getting a mortgage on Trustpilot.

L&C Features Overview

Feature	Details
Regulated	FCA regulated
Trustpilot Rating	Excellent with 4.6 stars over 5 from 13,300 customers.
Lenders Network	Searches over 1000s deals from 90+ lenders.
Free Services	Online and phone application, mortgage advice, personalised recommendations, 24/7 online mortgage tracker/portal
Other Services	Life insurance, and conveyancing services.
Application	Option to apply via phone call or online application. The application can last 30-45 minutes from answering a simple online survey to getting a phone call to finalise the mortgage.

Habito

Best for Fee-Free Online Services

Habito makes mortgage hunting straightforward by letting you do everything online. It searches through more than 20,000 mortgage options from over 90 lenders, ensuring it can find the best fit for you. 

And since it’s free to get advice, it’s a solid choice for anyone wanting to find a mortgage with minimal fuss.

Pros
– Habito’s service is completely free.
– The process is fast, easy, and available 24/7, you can do it any time, anywhere.
– Speak to a real person online when it suits you, even after business hours.
– If a better deal is elsewhere, Habito points you there to ensure you get the top option.
– Earn a £100 cash reward when you refer a friend who completes their application.

Cons
– The online service may not appeal to those who prefer in-person advice.
– If your finances are complex, Habito’s algorithm may not find the best deal for you.
– Starting the application can be tricky for some.

Habito Features Overview

Feature	Details
Regulated	FCA regulated
Trustpilot Rating	Excellent with 4.9 stars over 5 from 8,791 customers.
Lenders Network	Whole market broker who scans over 20,000 options from 90+ lenders.
Free Services	Online application, mortgage advice, personalised recommendations, tracking to offer.
Premium Services	Full home buying assistance with Habito Plus  offering legal and survey services, case manager, complete tracking. Costs £2,000+.
Application	Quick and easy online process for only 15 minutes and 24-48 hours to get an Agreement in principle.
Referral Reward	£100 cash for you and a friend who completes an application.

Mojo Mortgage

Best for Fee-Free Online Services

Mojo Mortgages is quickly becoming a go-to online mortgage broker in the UK for 2024, offering a hassle-free way to find the best mortgage deals. 

With access to the whole market, including 70+ lenders and over 10,000 mortgage products, Mojo ensures you won’t miss out on finding a suitable mortgage option. This service is particularly appealing because it comes at no upfront cost to you.

Mojo Mortgages simplifies the mortgage search with a quick, 60-second eligibility check followed by a more detailed questionnaire. 

This process helps narrow down the best mortgage options tailored to your needs. Available 24/7, Mojo provides flexibility and convenience for anyone looking to navigate the mortgage process online.

Pros
– Completely free to use, with Mojo earning a fee only when you switch.
– Offers whole-market comparisons to find the best rates.
– Quick and simple online questionnaire.

Cons
– May not cater to those with complex needs or bad credit.
– Lacks face-to-face interaction, which might not suit everyone.
– Does not offer a full house-buying service.

Mojo Mortgages Features Overview

Feature	Details
Regulated	FCA Regulated
Trustpilot Rating	Excellent with 4.5 stars over 5 from 4,081 customers.
Lenders Network	A whole-of-market broker with access to over 120 lenders, providing nationwide service.
Free Services	Includes searching and comparing 70+ lenders, document assistance, advice on residential and buy-to-let mortgages, and protection advice.
Premium Services	Offers introductions to partners for specialist lending needs and conveyancing services, with fees capped at £2,500.

Better.co.uk

Best for Fast Online Processing

Better.co.uk, formerly known as Trussle, suits anyone looking for a fast online mortgage process. They promise to give advice within 24 hours and make a decision in principle within five days. If they fail, you get £100, showing they’re serious about speed.

The service combines AI and personal chats to find you the best mortgage. They check 12,000 products from more than 100 lenders to match you perfectly.

You can also talk directly to mortgage experts to get advice that fits you well.

Better.co.uk stands out by mixing modern tech with personal service, making it a top pick for those who want online efficiency and the traditional broker’s personal touch.

However, Better.co.uk doesn’t explore every mortgage provider, especially some well-known and direct-only lenders, so you might miss out on certain deals.

While getting started and advice is free, you’ll pay extra for services like legal help. Also, the cost of their SmartBuyer service, which speeds up the buying process, changes, affecting your budget plans.

Pros
– No cost for getting started or for mortgage advice.
– Fast responses, with advice in a day and decision in principle within five days, plus £100 if they’re late.
– Even though it’s online-first, you can also meet in person if you like.
– Look at loads of options to find a good match for you.

Cons
– They might have missed some big and direct-only lenders.
– Additional services like conveyancing are not free.
– The Smart Buyer service fee is not fixed.

Better.co.uk Features Overview

Feature	Details
Regulated	FCA regulated
Trustpilot Rating	Excellent with 4.8 stars over 5 from 8,084 customers.
Lenders Network	Whole market broker who compares over 12,000s deals from 100+ lenders.
Free Services	Provides quick online applications, expert mortgage advice, and tailored support.
Premium Services	SmartBuyer service includes everything in the free package plus help from a conveyancing partner and a surveyor. Speeds up legal work, aiming to complete it faster than usual. The fee varies.
Application	Option to apply via phone call or online application. The application can last 30-45 minutes from answering a simple online survey to getting a phone call to finalise the mortgage.

John Charcol

Best for Complex Financial Situations

John Charcol is a well-known mortgage broker in the UK, perfect for people dealing with complicated financial situations or looking for unique properties. 

They’ve been giving tailored mortgage advice for over 45 years, making them a top choice for personalised guidance.

John Charcol stands out by offering a hands-on service over the phone. This method works well for those who like to have in-depth conversations and prefer a more traditional way of doing things. 

But, it’s worth mentioning that this customised service isn’t cheap. The starting fee is £699, and it might go up depending on how big your loan is or how complex your mortgage needs are.

Even with its higher fees, John Charcol has earned a nearly perfect score of 4.9 on Trustpilot, showing that customers are really happy with their service. Their skill in covering the whole mortgage market, even for clients with unusual incomes or properties, really makes them stand out.

Pros
– Over 45 years in the mortgage business.
– High praise and almost universally positive feedback online.
– Access to the whole mortgage lender market.
– Comprehensive service offerings from initial consultation to final approval.

Cons
– Variable broker fees, with no standard rate.
– Primarily phone-based, with limited online engagement.
– It’s one of the pricier options and most advice after the first initial consultation costs extra.

John Charcol Features Overview

Feature	Details
Regulated	FCA Regulated
Trustpilot Rating	Excellent with 4.9 stars over 5 from 786 customers.
Lenders Network	A whole-of-market broker with access to over 120 lenders, providing nationwide service.
Free Services	Offers free initial consultation but charges for further advice and services.
Premium Services	Specialises in a wide array of mortgage options including buy-to-let, remortgage, and more.
Service Fees	Fees are based on loan amount and complexity, starting at £699 for standard advice.

Tembo Money

Best for First-Time Buyers

Tembo is a standout mortgage broker in the UK, known for its comprehensive approach and a wide range of mortgage products. 

With access to over 100 lenders and 20,000 mortgage schemes, Tembo caters to a variety of homebuyers, especially first-time buyers looking for a leg up onto the property ladder.

What sets Tembo apart is its innovative ‘boost’ program, which allows family members or friends to help applicants increase their borrowing capacity, either by boosting their income or contributing to their deposit. This approach makes home ownership more accessible for many.

However, Tembo’s services come with fees: £499 for a standard mortgage and £749 for a boost mortgage. 

Despite being a paid service, Tembo’s unique offerings, such as deposit and income boosts, shared ownership schemes, and more, offer tailored solutions that can fit almost any circumstance.

Pros
– Access to a broad range of borrowing options.
– Specialises in helping first-time buyers.
– Provides options to increase borrowing capacity.
– Offers a complete home-buying service for a fee.

Cons
– Charges for all services, with no free options.
– Some mortgage options involve financial risk for supporters.
– Relatively new to the market, which may concern some buyers.

Tembo Money Features Overview

Feature	Details
Regulated	FCA Regulated
Trustpilot Rating	Excellent with 4.9 stars over 5 from 681 customers.
Lenders Network	Whole-of-market access to 20,000+ from 100+ lenders in the UK
Free Services	None. All services, including initial consultations, come with a fee.
Premium Services	Includes deposit unlock, dynamic income boost, savings as security, and other specialised schemes.
Service Cost	£499 for standard or remortgage services; £999 for premium services with expert advice.

Simply Adverse

Best for Bad Credit Solutions

Simply Adverse is unique for its expertise in bad credit mortgages. They offer tailored advice starting with a straightforward online questionnaire to check your eligibility.

Then, they provide a personalised service, including a no-obligation call to discuss the best mortgage deals for your situation. 

It’s important to know that you’ll only pay a fee (£1,995) if you decide to accept the mortgage offer they find for you.

Pros
– Expertise in bad credit cases.
– Free initial advice with a fee payable only upon acceptance of a mortgage offer.
– A flat fee regardless of the mortgage size.
– Access to major lenders in the bad credit market.
– Simple online eligibility check.
– 24/7 website access and flexible call scheduling.
– FCA regulated, ensuring trustworthy service.

Cons
– Specialises only in bad credit mortgages, not offering a broader market comparison.
– The fee (£1,995) is relatively high compared to some other services.

Feature	Details
Regulated	FCA Regulated
Trustpilot Rating	Excellent with 5/5 stars from 1,791 customers.
Lenders Network	UK-wide service focusing on bad credit mortgage solutions.
Free Services	Free Initial online eligibility assessment and advice, with fees applicable only on mortgage acceptance.
Premium Services	Specialised support for those with bad credit, including bankruptcy, CCJs, and IVAs.
Service Cost	A flat rate of £1,995, charged only if you proceed with their mortgage offer.

How We Rate and Review Brokers

Finding the best mortgage brokers requires a clear and thorough approach. To ensure you get the most reliable and insightful reviews, here’s how we do it:

• Regulation. Safety first! We check if the broker is regulated by the Financial Conduct Authority (FCA). This means they meet high standards of honesty and service.
• Tailored Mortgage Solutions. We value brokers who listen and tailor their advice to fit your unique needs. Everyone’s different, and your mortgage should reflect that.
• Network of Lenders. We look at how many lenders the broker works with. More lenders mean more choices for you. It’s that simple.
• Expertise. We favour brokers with a solid experience and deep knowledge of the mortgage market. The more they know, the better they can help you.
• Professionalism. How brokers speak to their clients is really important to us. Quick and clear replies show they’re on the ball and care about their customers. We rate brokers highly if they put customer happiness first.
• Reputation. What others say matters. We read through reviews and testimonials to understand the experiences of past clients. This gives us a real sense of what you can expect.

What are Mortgage Brokers?

Mortgage brokers are licensed professionals who act as a bridge between you and lenders. They look at your financial situation and then find lenders who can offer you the right mortgage deals. 

These brokers have gained more importance these days. 

Why? Because mortgages are getting trickier to understand. 

With new laws and many loan types, it’s easy to get lost. But a mortgage broker helps clear up the confusion. 

They explain your options in a way you can understand, making sure you’re well-equipped to make a smart choice.

Whether you’re a first-time buyer, thinking of moving, or needing to remortgage, a broker can make the process simpler. 

Do I Really Need a Mortgage Broker?

While it’s not strictly necessary to use a mortgage broker to apply for a mortgage, the benefits they offer are often significant.

And here’s why: 

Mortgage brokers can do the hard searching for you, so you don’t have to. 

They compare options, handle the application process, and guide you every step of the way.

A big plus of using a mortgage broker is their access to the whole market. 

Picture trying to sift through over 10,000 mortgage options by yourself – overwhelming, right? 

Brokers have the tools and know-how to narrow down those choices to the ones that best suit your situation. They know the ins and outs of different mortgages and lenders, boosting your chances of getting your application approved.

But here’s the catch – you need to pick a broker who can look at every option out there. 

Some brokers only work with a handful of lenders, which might mean you miss out on a better deal. 

That’s why picking a broker who can search the whole mortgage market is key. If not, you might miss out on a better deal, costing you more in the long run. Even if someone you trust recommends a broker, if they can’t search the whole market, think twice.

So, while you can sort a mortgage by yourself, a broker’s knowledge, skill, and market reach can really improve your chances of getting a good deal. 

Our tip? Choose a broker that promises to look at the whole market. This way, you’re more likely to find the best mortgage for you without all the hassle.

Why Are Some Mortgage Brokers Free?

Simply put, they get paid by lenders, not you.

Here’s the thing with online mortgage brokers: they use technology to make the whole process smoother and quicker. 

Unlike traditional advisors who might spend a lot of time on the phone with you, online brokers cut down on these lengthy interactions. 

This tech-savvy approach means they can help more people at once. So, they manage to cover their costs without needing to charge you any fees.

In contrast, traditional mortgage brokers usually work with fewer clients. They often provide a more hands-on service, which can take more time for each customer. Because of this, they might need to charge fees to make their business work.

Should I Use an Online or Traditional Mortgage Advisor?

It depends on what service you value the most. Here’s a simple comparison:

Online Mortgage Brokers

• Convenience – Manage your mortgage application from anywhere, anytime.
• Speed – Quick process from initial inquiry to application submission.
• Digital Management – Handle everything online, from filling out forms to live chat advice.
• Flexibility – Start, pause, and resume the application process as your schedule allows.
• Customer Service – Fast response times with a team ready to assist via live chat or email.
• Suitability – Ideal for all mortgage types, including buy-to-let and portfolio landlords.

Traditional Mortgage Advisors

• Personal Touch – Face-to-face meetings for in-depth discussion.
• Hands-On Approach – Personalised service, though it may require working around the advisor’s schedule.
• Response Times – Potentially slower, especially during busy periods or the advisor’s holidays.

In summary, if you value quick, flexible, and digital-first service, online mortgage brokers offer a modern and efficient way to secure your mortgage. 

However, if you prefer detailed, personal discussions and don’t mind a slower process, a traditional mortgage advisor could be the right choice for you.

How To Choose the Right Mortgage Broker?

Look for brokers regulated by the Financial Conduct Authority (FCA) for safety. And those who have a level 3 qualification or with a Certificate in Mortgage Advice and Practice (CeMAP) diploma.

To help you pinpoint who is the best one, here are some guidelines:

Start with Solid Research

You can talk to friends or family who’ve recently got a mortgage, dig into online reviews on platforms like Google or Trustpilot to get insights about the broker’s competency and communication skills.

Compare Your Options

Don’t settle on the first broker you meet. Shortlist at least three and ask them these key questions:

It’s also important to discuss your specific financial situation to your broker. 

Whether it’s credit issues or a need for a specific type of loan, the right broker should have experience handling similar cases. This conversation will give you a clue of whether they’re the right fit for you.

How Much Can I Borrow?

The amount you can borrow for a mortgage primarily hinges on your income – that means your salary if you’re employed, and profit if you’re self-employed. 

To get a ballpark figure, you could multiply your income by 4.5. But remember, this amount might be adjusted based on your monthly outgoings and how much money you have left after bills. 

Lenders want to ensure you have enough buffer to manage your mortgage payments comfortably.

Try the mortgage affordability calculator below to get a clearer idea of how much you could borrow based on your unique financial situation.

[Embedded Mortgage Affordability Calculator.]

Can I Borrow More with a Mortgage Broker?

Mortgage brokers can’t magically increase the amount you can borrow.

But their expertise and market knowledge can be crucial. They help by finding lenders whose criteria match your situation.

This can potentially maximise how much you can borrow. They also consider your income, credit health, and other key financial factors.

A mortgage broker’s role includes knowing what lenders are looking for and to show your finances in the best possible light.

This might mean pointing out the strong parts of your financial situation to appeal to certain lenders or giving you tips on how to make yourself a more attractive borrower.

How To Apply for a Mortgage?

Let’s dive into the mortgage application process without the jargon, shall we?

• Get an Agreement in Principle (AIP). This is your first step before diving into house hunting. An AIP gives you an idea of how much you could borrow based on your financial situation. It’s not a guarantee, but it’s a solid start.
• Gather Your Documents. You’re going to need a few things: identification (like a passport or driving licence), proof of income (such as payslips or tax returns if you’re self-employed), and a breakdown of your spending (bills, other loan repayments, etc.).
• Complete the Online Application. With your AIP and documents in hand, fill out the mortgage application on the lender’s website. This is where you provide all the information about your finances, the property you’re eyeing, and the mortgage type you’re seeking.
• Property Valuation and Survey. After you submit your application, the lender will check the property’s value to make sure the price matches up. It’s also a good idea to get a detailed survey to see if there are any issues with the property, which can be arranged separately.
• Legal Work (Conveyancing). Buying a house involves some legal work. You’ll need a conveyancer or solicitor to handle this bit, including exchanging contracts and transferring the money.
• Get Your Mortgage Offer. If everything goes to plan, you’ll get a formal offer from the lender. This tells you exactly what the deal is. Make sure to read it carefully before you agree.
• Completion. The last step is all about the conveyancer finalising the purchase and moving the money over to the seller. Then, the keys to your new home are yours. Congratulations!

For a deeper dive, especially helpful for first-time buyers, our First Time Buyer Guide has got you covered.

And remember, while your estate agent might suggest using their broker, it’s worth shopping around to ensure you get the best deal for you.

Clearing the Mortgage Jargon

If you have no experience with mortgages, it might get tricky to understand the financial jargon experts often use. So, let’s break down some mortgage terms you might encounter during the process:

Agreement in Principle (AIP) – A document from a lender saying they might lend you a certain amount of money for a mortgage, based on some initial checks.

APRC (Annual Percentage Rate of Charge) – A percentage that shows the total cost of a mortgage each year, including interest and fees. It helps you compare different mortgage deals.

Arrears – This means falling behind on your mortgage payments. If you miss a payment, you’re in arrears.

Base Rate  –  The interest rate set by the Bank of England that influences other interest rates, including mortgages.

Capital  –  The amount of money you borrow to buy a property.

Cost of Credit – The total amount it costs to borrow money for your mortgage, including interest and any fees.

Conveyancing – The legal process of transferring property ownership from one person to another.

Deeds (Title of Deeds) –  Legal documents proving who owns a property.

Deposit – The money you pay upfront when buying a property. It’s part of the purchase price and not covered by the mortgage.

Early Repayment Charges (ERC) –  Fees you might have to pay if you pay off your mortgage early.

Equity – The part of your property you own outright, without any mortgage. It’s the difference between the property’s value and the mortgage amount you owe.

Fixed-Rate Mortgage – A mortgage with an interest rate that stays the same for a set period.

Freehold – Owning the property and the land it’s on outright.

Gifted Deposit – Money given to you, usually by family, to help pay the deposit on a property.

Guarantor – Someone who agrees to pay your mortgage if you can’t.

Higher Lending Charge – A fee some lenders charge if your deposit is small and the loan is seen as a higher risk.

Interest-Only Mortgage – A mortgage where you only pay the interest each month. The amount you borrowed (the capital) doesn’t go down over time.

Land Registry – A government department that records the ownership of property and land.

Leasehold – Owning a property for a set period but not the land it’s on.

Loan-to-Value (LTV) – The size of your mortgage compared to the value of the property.

Maturity Date – The date when your mortgage term ends, and the loan must be repaid in full.

Mortgage Offer – A formal offer from a lender to loan you a certain amount of money to buy a property.

Mortgage Term – The length of time you have to pay back your mortgage.

Overpayment – Paying more than the agreed monthly mortgage payment. This can help you pay off your mortgage quicker and save on interest.

Product Fee –  A fee charged by lenders for setting up a mortgage.

Remortgage – Switching your mortgage to a new deal, either with your current lender or a new one.

Repayment Mortgage – A mortgage where your monthly payments go towards the interest and reducing the capital. By the end of the term, you’ll have paid it all off.

Stamp Duty – A tax you pay when buying a property over a certain price in the UK.

Standard Variable Rate (SVR) – The interest rate that your mortgage switches to after your initial fixed, tracker, or discount deal ends. It can go up or down.

Tracker Mortgage – A mortgage with an interest rate that changes in line with the Bank of England’s base rate. So, if the base rate goes up or down, so does your interest rate.

Valuation – An assessment of how much a property is worth, done by a lender before agreeing to a mortgage.

Variable Rate – An interest rate on a mortgage that can go up or down, influenced by the lender’s SVR or the Bank of England’s base rate.