How Much Do Google Ads Cost for Mortgage Brokers in the UK?

Google Ads is one of the most effective ways for mortgage brokers to generate qualified leads in the UK — but only if the budget, structure and management are right. Here's exactly what you should expect to pay, and what you should be getting for your money.

What is a realistic Google Ads budget for a mortgage broker?

The minimum viable Google Ads budget for a mortgage broker in the UK is £1,000 per month in ad spend. At this level you can test the market and generate some lead volume, but results will be limited by how competitive your local area is.

The sweet spot is £3,000–£5,000 per month in ad spend. At this level you have enough budget to run properly structured campaigns, test different audiences and keywords, and generate consistent lead flow month on month.

Anything below £1,000/month in a competitive area like London or the South East is unlikely to generate meaningful results — the cost-per-click for mortgage-related keywords is high enough that a small budget gets eaten up quickly without enough data to optimise from.

How much does Google Ads management cost for a mortgage broker?

On top of your ad spend, you'll pay a management fee to whoever runs your campaigns. For a specialist with real financial services experience, management fees typically start at £1,000 per month.

Be wary of agencies charging £200–£400/month for Google Ads management. At that price point, your account is almost certainly being managed by a junior with a large portfolio of clients — not a specialist who understands FCA compliance, financial services buying cycles, or what a quality mortgage lead actually looks like.

Total monthly investment to budget for:

• Ad spend: £1,000–£5,000/month

• Management fee: from £1,000/month

• Total: £2,000–£6,000/month depending on your growth ambitions

What is a good cost-per-lead for a mortgage broker on Google Ads?

A good cost-per-lead (CPL) for a mortgage broker running Google Ads in the UK is £30–£50 per lead. At this level, the economics work clearly — a single completed mortgage case is worth thousands of pounds in commission, so even a £50 lead that converts at 20% is highly profitable.

A CPL of £100 or more is a red flag. It typically signals one or more of the following problems:

• Campaigns are targeting the wrong keywords (too broad, or not commercial enough)

• The landing page isn't converting properly

• The ad copy isn't pre-qualifying leads before they click

• The budget is too low to generate enough data to optimise effectively

• The account hasn't been set up with financial services lead generation in mind

If you're currently paying £100+ per lead from Google Ads, the issue is almost always structural — not a lack of budget.

How long before Google Ads generates leads for a mortgage broker?

Most mortgage brokers start seeing leads within the first 30 days of a well-structured campaign going live. Realistically, allow 1–3 months before drawing firm conclusions about performance.

The first month is about data gathering — Google's algorithm needs time to learn which searches, times of day, and audience signals convert best for your business. The second and third months are where optimisation really starts to compound and cost-per-lead begins to drop.

If you're three months in and still not seeing leads at a sensible cost, something is structurally wrong with the campaign — not something that more time or more budget will fix on its own.

Do mortgage brokers need FCA-compliant Google Ads?

Yes. Financial services advertising on Google is a restricted category. Your ads must comply with FCA guidelines, which means:

• Clear, fair and not misleading ad copy

• No guaranteed outcome claims (e.g. "guaranteed mortgage approval")

• Appropriate disclaimers where required

• Your FCA registration number included where relevant

Google itself requires financial services advertisers to be FCA-authorised or an appointed representative of an FCA-authorised firm. Working with a paid media specialist who understands financial services compliance is essential — generic marketing agencies often get this wrong, which can result in ads being disapproved or accounts being suspended.

Is Google Ads worth it for mortgage brokers?

For most mortgage brokers, yes — provided the campaign is set up correctly and managed by someone with financial services experience.

The maths are straightforward. A mortgage broker generating 20 leads per month at £40 CPL is spending £800 on leads. If 4 of those convert into completed cases at an average commission of £1,500, that's £6,000 in revenue from £800 in lead spend — before management fees. The margin is significant enough that Google Ads, done properly, is one of the highest-ROI marketing channels available to mortgage brokers in the UK.

The key word is properly. Poorly managed Google Ads campaigns burn budget fast in financial services, where clicks are expensive and competition is high.

Summary: Google Ads costs for mortgage brokers at a glance

• Minimum ad spend: £1,000/month

• Recommended ad spend: £3,000–£5,000/month

• Management fee: from £1,000/month

• Good cost-per-lead: £30–£50

• Red flag cost-per-lead: £100+

• Time to first leads: 30 days

• Time to consistent results: 1–3 months

Natalie Chappell is a paid media specialist with 16+ years experience working with mortgage brokers, IFAs, funding providers and private banks across the UK. She is Google Ads Search Certified and has managed over £10 million in ad spend across Google, Meta and LinkedIn.

Want to know what your Google Ads should be delivering? Book a free 30-minute call at nataliechappell.com/contact