Reference Case Number: FOI11204
Freedom of Information: Right to know request:
Please provide the percentage breakdown of fees charged by brokers for residential, lifetime and second charge mortgages. This would be done by different intermediary fee band e.g. Zero, 0-100, 100-200 and so on.
If possible, the preferred format would be in three separate tables with the percentages of brokers who charge certain fees by different fee band and would go back to 2019 until 2023.
FCA response:
We can confirm we hold this information, and our response can be seen below at tables 1 to 4.
Table 1: All regulated mortgages (inc. second charge, lifetime) sold via intermediary channel.
| Intermediary or 3rd party fees | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|
| £0 | 42.53% | 44.24% | 49.50% | 51.81% | 55.96% |
| £1-99 | 1.71% | 1.57% | 1.55% | 1.64% | 1.70% |
| £100-199 | 10.40% | 9.66% | 8.25% | 7.53% | 6.43% |
| £200-299 | 9.58% | 9.91% | 8.70% | 8.06% | 7.20% |
| £300-399 | 8.53% | 8.69% | 8.05% | 7.54% | 7.03% |
| £400-499 | 7.88% | 7.49% | 7.33% | 6.94% | 6.39% |
| £500-749 | 8.64% | 8.76% | 8.67% | 8.34% | 8.00% |
| £750-999 | 2.46% | 2.84% | 2.83% | 2.74% | 2.33% |
| £1,000-1,249 | 0.90% | 0.89% | 0.77% | 0.68% | 0.74% |
| £1,250-1,499 | 1.61% | 1.27% | 0.90% | 1.05% | 0.79% |
| £1,500-1,749 | 1.04% | 0.97% | 0.63% | 0.53% | 0.43% |
| £1,750-1,999 | 0.82% | 0.66% | 0.69% | 0.73% | 0.72% |
| £2,000 or more | 3.89% | 3.05% | 2.13% | 2.41% | 2.29% |
Table 2: Second charge mortgages sold via intermediary channel
| Intermediary or 3rd party fees | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|
| £0 | 5.50% | 3.78% | 7.75% | 5.23% | 2.13% |
| £1-99 | 0.12% | 0.10% | 0.24% | 0.16% | 0.01% |
| £100-199 | 0.18% | 0.12% | 0.15% | 0.12% | 0.03% |
| £200-299 | 1.06% | 0.59% | 0.66% | 0.37% | 0.10% |
| £300-399 | 0.74% | 0.48% | 0.71% | 0.50% | 0.12% |
| £400-499 | 0.68% | 0.28% | 0.46% | 0.39% | 0.24% |
| £500-749 | 1.94% | 1.37% | 1.17% | 1.04% | 0.62% |
| £750-999 | 4.20% | 3.31% | 2.57% | 2.85% | 2.54% |
| £1,000-1,249 | 5.71% | 5.64% | 5.08% | 4.36% | 4.95% |
| £1,250-1,499 | 5.86% | 6.15% | 5.53% | 5.75% | 6.14% |
| £1,500-1,749 | 7.49% | 7.06% | 6.34% | 5.09% | 4.98% |
| £1,750-1,999 | 7.21% | 8.00% | 7.20% | 7.55% | 8.53% |
| £2,000 or more | 59.32% | 63.12% | 62.14% | 66.60% | 69.61% |
Table 3: Lifetime mortgages sold via intermediary channel
| Intermediary or 3rd party fees | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|
| £0 | 11.46% | 10.29% | 16.45% | 19.25% | 15.07% |
| £1-99 | 0.02% | 0.01% | 0.01% | 0.02% | 0.02% |
| £100-199 | 0.12% | 0.08% | 0.10% | 0.12% | 0.11% |
| £200-299 | 0.37% | 0.28% | 0.59% | 0.59% | 0.48% |
| £300-399 | 0.55% | 0.49% | 0.77% | 0.66% | 0.49% |
| £400-499 | 1.23% | 1.05% | 1.82% | 2.27% | 1.44% |
| £500-749 | 8.38% | 13.60% | 10.76% | 12.75% | 10.23% |
| £750-999 | 8.43% | 15.51% | 20.91% | 17.90% | 12.20% |
| £1,000-1,249 | 5.65% | 5.18% | 4.40% | 3.75% | 7.97% |
| £1,250-1,499 | 20.28% | 15.25% | 12.05% | 14.62% | 13.10% |
| £1,500-1,749 | 11.95% | 11.93% | 8.74% | 6.01% | 6.45% |
| £1,750-1,999 | 4.82% | 3.85% | 9.47% | 9.14% | 15.31% |
| £2,000 or more | 26.75% | 22.49% | 13.92% | 12.91% | 17.13% |
Table 4: All regulated mortgages (exc. second charge, lifetime) sold via intermediary channel
| Intermediary or 3rd party fees | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|
| £0 | 45.18% | 46.88% | 51.44% | 54.12% | 58.04% |
| £1-99 | 1.84% | 1.69% | 1.62% | 1.74% | 1.78% |
| £100-199 | 11.21% | 10.36% | 8.69% | 7.99% | 6.71% |
| £200-299 | 10.30% | 10.61% | 9.14% | 8.52% | 7.50% |
| £300-399 | 9.17% | 9.29% | 8.44% | 7.97% | 7.33% |
| £400-499 | 8.43% | 7.98% | 7.65% | 7.26% | 6.63% |
| £500-749 | 8.85% | 8.68% | 8.74% | 8.32% | 8.10% |
| £750-999 | 2.11% | 2.18% | 2.21% | 2.14% | 2.10% |
| £1,000-1,249 | 0.52% | 0.57% | 0.56% | 0.48% | 0.49% |
| £1,250-1,499 | 0.54% | 0.44% | 0.43% | 0.41% | 0.39% |
| £1,500-1,749 | 0.31% | 0.27% | 0.24% | 0.21% | 0.20% |
| £1,750-1,999 | 0.44% | 0.33% | 0.26% | 0.24% | 0.22% |
| £2,000 or more | 1.11% | 0.72% | 0.57% | 0.60% | 0.51% |
Source: FCA Product Sales Data (PSD001)