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British brokers double their money in five years

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James Mitchell 8 minute read

New data has revealed that British mortgage brokers managed to double their revenue in five years while reducing their reliance on commission payments and home lending.

New information from the UK’s Financial Conduct Authority (FCA) shows that while commission remains the primary source of revenue, accounting for 76 per cent of revenue earned by UK brokers in 2017, this is down from 79 per cent in the previous year.

Fees and charges accounted for 23 per cent of revenue in 2017, up from 20 per cent in 2016.

UK brokers managed to boost their total revenue by 23 per cent to just under £1.2 billion, or $2.1 billion, over the year.


The FCA data also reveals how much UK brokers are paid. Interestingly, average annual salaries vary significantly depending on the size of the brokerage. 

Larger brokerages with more than 50 brokers dominate the UK market, accounting for almost 70 per cent of the sector. This trend is also on the rise as solo operators continue to flock to larger groups.

The FCA figures show that the average mortgage revenue for sole operators was £37,500 ($67,168).

Brokers working at the largest groups (more than 50 brokers) receive an average salary of £56,876 ($105,459), while those in mid-tier brokerages (between six and 50 loan writers) earn the most, with an average salary of £85,277 ($152,748).

This number compares closely to Australia, where the average broker earns around $142,000 before costs, according to a 2017 report by the MFAA.


Insurance has become an increasingly critical revenue stream for mortgage advisers in the UK, where the sale of insurance products now accounts for 34 per cent of all revenue generated by the third-party channel.

In 2017, total insurance sales through British brokers was £410 million ($730 million), while mortgage broking generated £767 million ($1.4 billion) or 66 per cent.

Late last year, Custom Equity Group CEO David Haythorn decided to launch a general insurance platform, Equitisure, after seeing the impact of insurance in the UK mortgage broking market first-hand.

Mr Haythorn said that he was inspired to launch the new business after attending The Adviser’s UK Study Tour in 2016.

“It was extraordinary to see how important the insurance offer has become within the UK mortgage broking scene and how offering insurance to clients is second nature in the borrowing process,” Mr Haythorn said.

The Adviser’s Study Tour 2018

This year’s study tour offers delegates a unique opportunity to bolster their businesses with a significant competitive edge.

Aside from providing the opportunity to personally interact with speakers, panellists and luminaries in the mortgage market from a range of different countries and learn from their experiences, it is also a powerful networking opportunity for those operating in the Australian market.

The Adviser’s Asia Study Tour will visit Hong Kong from Tuesday, 9 October, to Friday, 12 October, and is exclusively for brokers and mortgage professionals.

Delegates will have the opportunity to hear first-hand from some of the world’s most innovative mortgage lending and technology firms as well as some of the region’s biggest-hitting brokers to find out how they dominate their market.

Again, the tour will welcome back industry legend Steve Weston as master of ceremonies as well as hosts from The Adviser.

Jim Hall, Momentum Media’s director of events and business development, said that the information gained on the tour will be invaluable for those who want to survive and continue to thrive in what is undoubtedly going to be a demanding climate for the mortgage industry.

“Given the domestic backdrop of the financial services royal commission, and with increasing regulatory demands and changes, it’s more important than ever that mortgage professionals understand and can emulate international best practice in the industry,” Mr Hall said.

“As the Australian market tightens, the most successful industry participants will be those with the widest and most up-to-date perspective.”

The Asia Study Tour delegates will include Australia’s elite mortgage professionals, bank executives, aggregator heads, mortgage and finance brokers, and fintech leaders.

If you are a leading mortgage professional that wants to ensure your business remains at the forefront of the industry, then this year’s tour is one you cannot miss.

The number of delegates is strictly limited, so book your place now to ensure you don’t miss out.

Call Jim Hall now on 02 9922 3300 or email This email address is being protected from spambots. You need JavaScript enabled to view it. to reserve your place.

[Related: Brave New World]

British brokers double their money in five years
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James Mitchell

James Mitchell

James Mitchell has over eight years’ experience as a financial reporter and is the editor of Wealth and Wellness at Momentum Media.

He has a sound pedigree to cover the business of mortgages and the converging financial services sector having reported for leading finance titles InvestorDaily, InvestorWeekly, Accountants Daily, ifa, Mortgage Business, Residential Property Manager, Real Estate Business, SMSF Adviser, Smart Property Investment, and The Adviser.

He has also been published in The Daily Telegraph and contributed online to FST Media and Mergermarket, part of the Financial Times Group.

James holds a BA (Hons) in English Literature and an MA in Journalism.



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