The move to offer whole of market advice was welcomed by London & Country, another fee-free broker.
David Hollingworth, L&C's head of communications agreed with Ian Kennedy, Charcol's chief executive, who said that the need for free expert advice was more important than ever in such a complex market.
Hollingworth added: “We have been banging the drum for fee-free advice for a long time now and estimate that our customers saved more than £21m in broker fees last year."
Kennedy further explained the reasoning behind the decidion: "With many lenders moving and, crucially, tightening their criteria, it is difficult for consumers to know who will lend to them. As a broker, we are full aware of who lends on what criteria and can provide our customers with the very best mortgage for them for no cost at all.”
Charcol will manage the entire mortgage application through to completion, liaising with solicitors, valuers and lenders on the borrower's behalf.
