Mortgage Club Fees Review

Published / Last Updated on 19/05/2018

Mortgage ClubLast week the Financial Conduct Authority (FCA) published its Mortgage Market interim study and part of this questioned whether Mortgage Clubs and fees paid to them are clear enough and whether they are working in the interests of borrowers.

What is a Mortgage Club?

Many brokers join mortgage clubs so that collectively, ‘the club’ can negotiate enhanced terms and special mortgage deals en masse.  The reality is that mortgage clubs also get to keep a slice or proportion of any procuration fee paid to the mortgage broker.

The FCA has questioned whether this is working in the best interests of the consumer given that this may lead to not all mortgage deals being considered and indeed higher fees for consumers.


It is right to question but overall, we believe mortgage clubs have a place in securing competitive terms provided all brokers quote set fees to their clients and not only search mortgage club and broker only deals but also all direct to consumer only mortgage deals.