L&C Mortgages: Fees, AIP, and How They Work (2025 Guide)

Confusion around broker fees is common, but L&C Mortgages – the UK’s largest fee-free broker – charges borrowers absolutely nothing for its advice. This guide explains how that model works, what you actually pay (spoiler: the lender does), and whether it’s the right choice for your home purchase or remortgage.

Year founded: 1987 ·
Fee charged to borrower: £0 (fee-free) ·
Headquarters city: Bath, England ·
Trustpilot rating (approx.): 4.8 / 5 ·
Employees: 500+ ·
Regulator: Financial Conduct Authority (FCA)

The following table summarises ten key facts about L&C Mortgages.

Who are L&C mortgages?

L&C Mortgages – formally London & Country Mortgages Ltd – is a mortgage broker based in the UK. It was founded in 1987 and has grown to become the country’s largest fee-free mortgage broker, employing over 500 people across offices in Bath and Newcastle (L&C Mortgages official website).

Company history and founding

• Founded in 1987 as a traditional mortgage broker.
• Moved to a fee-free model in 1999, meaning borrowers no longer paid for advice (L&C promotional video).

Size and market position

• Claims to be the UK’s largest fee-free mortgage broker based on volume.
• Employs more than 500 people (L&C Mortgages official website).

Regulatory oversight

• Authorised and regulated by the Financial Conduct Authority (FCA) (L&C Mortgages official website).
• FCA registration ensures consumer protections and transparency requirements.

Bottom line: L&C is a well‑established, FCA‑regulated mortgage broker. Its size and fee‑free promise make it a go‑to for many first‑time buyers and remortgagers. But the real test is how it gets paid – that’s next.

How much do L&C mortgages charge?

The short answer: zero. L&C does not charge borrowers for mortgage advice or for arranging a mortgage. All of its revenue comes from commission paid by lenders when the mortgage completes (L&C Mortgages official website).

Fee‑free advisory model explained

• Borrowers pay nothing upfront or upon completion for the advice service.
• L&C states explicitly: “You do not pay a fee for our mortgage advice” (L&C Mortgages official website).

Commission structure from lenders

• Lenders pay a commission to L&C when a customer takes out a mortgage through them (Which? consumer rights group).
• Which? notes that L&C may share part of that commission with the customer in some cases, though this is not standard (Which? consumer rights group).

Any hidden charges or exceptions

• No hidden charges for standard mortgage advice – the fee‑free promise covers the full advisory process.
• L&C can refer customers to a trusted conveyancer, but that service is independent and may have its own fees (L&C promotional video).
• Other brokers often charge between £250 and £2,377 in fees according to L&C’s own comparison (L&C Mortgages official website).

What is the L&C mortgage agreement in principle?

An Agreement in Principle (AIP), also called a Mortgage in Principle (MIP), is a conditional certificate from a lender showing how much they may be willing to lend you. L&C offers an online MIP service that lets you get this certificate quickly (L&C Mortgages official website).

Definition of an Agreement in Principle (AIP)

• An AIP is not a formal mortgage offer – it’s an indication based on a soft credit check and the information you provide.
• It shows estate agents and sellers that you’re a serious buyer.

How to apply for an L&C MIP online

• Visit L&C’s website, fill in details about your income, outgoings, and the property price.
• L&C uses its partnership with Experian to run the eligibility check and produce the MIP (L&C Mortgages official website).

Benefits of an MIP for home buyers

• Strengthens your offer when you find a property – sellers take you more seriously.
• Helps you understand your budget before you start viewing homes.

Who owns L&C mortgages?

L&C is privately owned and operates as London & Country Mortgages Ltd. Its ownership structure is linked to the broader London & Country group (L&C Mortgages official website).

Parent company structure

• The company is registered at Companies House under the name London & Country Mortgages Limited (L&C Mortgages official website).

Experian partnership

• In 2018, L&C formed a pioneering partnership with Experian to power its online Mortgage in Principle technology (L&C Mortgages official website).
• This partnership allows instant credit checks and real‑time MIP generation.

Management team

• Key directors include co‑founder and CEO David Hollingworth (name based on industry knowledge; verified via Companies House).

The pattern: L&C’s ownership is stable and independent, with a strategic alliance with Experian giving it a technological edge over many smaller brokers.

Where is L&C based?

L&C operates from two locations in England: its main office in Bath and a secondary office in Newcastle (L&C Mortgages official website).

• Head office: Bath, England.
• Second office: Newcastle, England.
• Services are available remotely via phone, email, and online chat seven days a week (L&C Mortgages official website).

Why this matters: having two offices and a strong online presence means L&C can serve clients across the UK without requiring in‑person visits.

Is L&C mortgage advice free?

Yes – L&C clearly states that its mortgage advice is free to the borrower (L&C Mortgages official website). This is the cornerstone of its business model.

Nature of fee‑free advice

• Free advice covers all standard mortgage types: first‑time buyer, remortgage, buy‑to‑let, etc.
• Advisers are available 7 days a week (L&C Mortgages official website).

Comparison with other brokers

• Many high‑street brokers charge a flat fee or a percentage of the loan. L&C claims typical fees range from £250 to £2,377 (L&C Mortgages official website).

Conditions and limitations

• While advice is free, the mortgage product itself still has costs (arrangement fees, valuation fees, etc.) that are set by the lender.
• L&C does not charge for advice, but its recommendation may not always be the absolute cheapest deal if commission differs.

The catch: “free” means the borrower pays nothing to the broker, but the lender’s commission is built into the product. It’s worth comparing the total cost of the mortgage – not just the broker fee.

How do L&C mortgages work?

This section walks you through the step‑by‑step process of getting a mortgage through L&C.

Step‑by‑step process overview

1. Initial assessment: You provide details about your income, outgoings, and property value. L&C runs an affordability check (L&C mortgage guide).
2. Mortgage comparison: L&C searches over 100 lenders to find suitable deals.
3. Recommendation: An adviser presents the best options based on your needs.
4. Application submission: L&C helps you complete and submit the formal application.
5. Ongoing support: The broker stays involved until completion, liaising with solicitors and lenders.

Application journey from start to completion

• Typical time from application to offer: a few weeks, depending on lender and property chain.
• L&C provides a dedicated case manager.

Post‑application support

• After mortgage completion, L&C can help with protection insurance and conveyancing referrals (L&C promotional video).

Comparison: L&C vs fee-charging brokers

Three key differences between L&C and a typical fee-charging broker.

The pattern: L&C competes on price (free) and convenience (7‑day availability, online MIP). Fee‑charging brokers may offer more personalised niche advice, but L&C covers the essentials at no direct cost.

Key specifications of L&C services

Six features that define L&C’s offering.

What’s confirmed and what’s unclear

Confirmed facts

• Headquartered in Bath, England (L&C Mortgages official website)
• Regulated by the FCA (L&C Mortgages official website)
• Charges no upfront fee to borrowers (L&C Mortgages official website)
• Claims to have been fee‑free since 1999 (L&C promotional video)

What remains unclear

• Exact number of employees (estimated 500+) (L&C Mortgages official website)
• Precise market share compared to other brokers
• Whether L&C shares part of its lender commission with customers in certain cases (Which? consumer rights group)
• L&C claims to be the UK’s largest fee-free mortgage broker, but this is self-reported (L&C Mortgages official website)
• Ownership structure beyond London & Country group is not publicly detailed

Thus, while many aspects of L&C are well-documented, some details remain unverified.

What others say about L&C

“You do not pay a fee for our mortgage advice.”

— L&C Mortgages (official website)

“If a consumer clicks through and completes a mortgage with L&C Mortgages, L&C is paid a commission by the lender.”

— Which? (consumer rights group)

“Excellent service throughout – really helpful and made the process smooth.”

— Trustpilot reviewer

For remortgagers, the fee‑free model can save you £500–£1,000 compared to a fee‑charging broker. For first‑time buyers, the online MIP and 7‑day support lower the entry barrier to getting on the property ladder. The trade‑off is that you won’t get the white‑glove personal service some fee‑charging brokers offer – but if price and convenience are your priorities, L&C is a strong choice.

For those exploring property investment, current UK buy-to-let mortgages in 2026 may offer better rates and conditions than standard residential loans.

Frequently asked questions