How Much Do Mortgage Leads Cost?

From £0 to over £100, it depends if you self generate or where you buy from.

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Self Generated Leads

Local Mortgage Leads

Organic “Free” Leads

Having the most google reviews in your location will often lead to free leads. These tend to be better quality too. Someone has decided you’re the best broker locally to them.

You’ll need a Google My Business profile and a physical address that someone can walk into. You’ll need to prove that you work from that address, have access and can represent the business from that address.

How Much Do Mortgage Leads Cost? image

Paid Leads

You can run Google Pay Per Click ads locally or in any location too. First, you’ll need to complete a financial services verification and advertiser verification. These can appear above Google Maps and some users do not scroll down to see the organic listings. Google Ads is a live auction so the cost per click can vary from day to day depending on the competition. You are however in complete control of your spend and budget.

As you pay google for clicks, your cost per lead is calculated by how many leads you generate from the clicks divided by the cost.

A click cost can range from £0.90 to over £15 depending on what you are targeting, the relevance of your ad and landing page.
From experience the smaller your audience (local rather than national) the more expensive it tends to be.

At The Lead Engine we use Google Ads as a source of profitable, quality mortgage leads for our clients. The actual cost per lead may vary but our focus is on the cost per lead that will result in a completion. Brokers consistently see a cost per completion lower than they pay out to introducers whilst retaining full control.

Mortgage Leads Mini Case Study

We analysed 39 of the highest-rated “gold” leads for one of our clients

None came from eBooks, email lists, or social media. Instead, they:

  • Searched for help on Google
  • Liked what they saw
  • Reached out directly

No gimmicks. No fancy tech. No rates tables or calculators.

Searchers saw they had solved that problem lots of time before. Had all the relevant faqs. They are actual real people, who love what they do and proved it on a web page.

Funnel Shmunnel.

National Mortgage Leads

Many brokers prefer leads from a different location (with higher property values), some aren’t bothered with location. The majority prefer to target by mortgage type. This could be by employment, income, bad credit, remortgage, property type. The list goes on.

Organic “Free”

Google is an excellent source of consistent, quality leads and gaining these organically is in reach of businesses of all sizes. When it comes to organic Google doesn’t care how big or small your business is, or the size of your budget. It cares whether people can find the information they are looking for.

The great thing about mortgages is there are so many different scenarios where people need advice. Take remortgaging for example. People don’t just search “Remortgage” they have all sorts of questions around the term, the rate, what equity they can pull out, can they build an extension. The list goes on.

You have all the product types, then people who have quirky credit, unusual properties, different income types.

There are plenty of opportunities, it’s just that the best leads are earned. You need to earn the right to rank on Google.

Here at The Lead Engine we have dozens of brokers getting consistent organic leads from Google. These brokers range from a one person AR, to a handful of advisers up to 50 adviser firms.