Skip to content

How To Become a Mortgage Adviser

An adviser to mortgages is property professional who assists clients locate and select mortgage deals. They evaluate the financial situation of their clients and offer advice on ways to boost their chances of approval, and find deals that are a good fit of their particular circumstances, and provide the required paperwork for approval. Other duties of mortgage advisers include:

Contacting clients and meeting with them

Decoding the benefits and drawbacks of different mortgages

Conducting market analysis and making informed choices that are specific to the needs of a customer

Helping clients navigate the process of obtaining a mortgage

Understanding the financial circumstances of each client and tailoring mortgage advice keeping this in mind

Helping clients answer any questions they may have regarding the home-buying process or the mortgage process

Contacting mortgage lenders and estate agents.

Meeting regular sales targets

Help with the repayment of a mortgage

Keep up to date with the latest mortgage products and changes to mortgage regulations

What kind of education do you require to become a mortgage broker?

A postsecondary education isn’t required to be a successful candidate in the field of mortgage advice however, having this certificate can help you stand out among other candidates. A degree in finance, accounting business management, property or estate management proves that you know aspects that directly pertain to the role of a mortgage advisor. It is also possible by obtaining an Higher National Diploma, or HND and there are many postgraduate courses to help you move up to become a well-established adviser.

What are the skills required for a mortgage broker?

A successful mortgage advisor will have a wide range of soft and hard capabilities, which include:

A thorough understanding of the market for property

It is possible to make simpler complicated details for customers

Great analytical and problem-solving capabilities

Informed decision-making skills

An in-depth understanding of finance and financial statements

Excellent maths skills

A keen eye for the smallest detail

Excellent negotiation skills

A keen eye for deals and an ear for the ground

Great communication skills

Excellent customer service skills

Good time management skills

Relationship-building skills

What qualifications are required to be an mortgage agent?

Before you are able to become a mortgage advisor you must complete specific professional certification tests and courses. The courses that are approved by the Financial Conduct Authority, or FCA and are the norm in the industry:

Certificate in Mortgage Advice and Practice (CeMap)

The three-level course is required for those who want to become mortgage advisor. It is possible to take CeMap papers 1and 2, and 3 on your own. If you are enrolled in a mortgage advisor trainee training course within the U.K., your employer could help by paying for your exam, providing flexible hours , or even providing instruction to assist you with passing the course. Many course providers offer flexible study schedules in light of the reality that a lot of novice mortgage advisers need to work as well as take classes. The course comprises examinations and assessment modules that require between six months and the completion of two years.

Certificate of Mortgage Advice

The Chartered Insurance Institute, or CII The level 3 Certificate in Mortgage Advice certifies that the individual who is holder has gained an knowledge of the obligations and procedures of mortgage advice. It’s appropriate for professionals in the mortgage industry who are currently in an advisory role but want to further develop their knowledge in this area. The successful certification process requires completion of two of the three core units , which are based on topics such as the ethics and regulation of the field as well as financial services and mortgage advice.

Certificate of Advanced Mortgage Advice

Also available from CII This is a certificate of level 4 which builds upon the knowledge acquired from the Level 3 Certification on Mortgage Advice. It is a top-level certificate it demonstrates an adviser’s expertise in advice and the ability to advise clients regarding complex financial issues. To be eligible for the Certificate in Advanced Mortgage Advice You must take three core courses covering topics like financial services, ethics and regulations in addition to advanced mortgage tips.

Professional development

Beyond professional accreditations There are additional ways you can aid you in starting your career in mortgage advisory. This includes:

The membership of an official body being a member of an official body within the finance and mortgage industry can speed up the process to become a mortgage adviser. Associations such as those of Chartered Insurance Institute grant you access to market and technical knowledge , as well as education and networking opportunities.

Mentorship: You may align yourself with a veteran mortgage broker to serve as your mentor and guide on the path to becoming a mortgage advisor.

The working environment and the hours of operation

Mortgage advisors typically work from an offices at home, in the office or in the offices or homes of their clients. The most common employers for mortgage advisors include banks as well as building societies mortgage broker firms , and estate agents. As a mortgage advisor, you will be expected to be working between 35 and 40 hours per week. However, overtime and weekends may arise. Working hours from day to day are typically flexible, which allows mortgage advisers to adapt to the schedules of their customers and meet their requirements more efficiently.

How can you become a mortgage advisor?

If you are a brand new entrant you may become a mortgage consultant via a variety of ways:

1. Start working your way up from a position in a similar field

There are many positions in sales or finance that could allow you to move into an advisory role in mortgages. These positions can enhance your knowledge of the financial sector and could help you to be more attractive. If you’ve had an area of customer service such as, for instance, at a bank, changing careers is easy because of the transferable skills you’ve acquired in the job. Other roles that can be adapted easily into mortgage advice include:

Retail banker

Financial manager

Mortgage administrator

Financial advisor

2. Make an apprenticeship

Apprenticeships let you improve your skills learning relevant experience as you move on towards becoming mortgage adviser. Apprenticeships typically last for 12 months. For an apprenticeship to be awarded you must have five GCSEs which include maths and English. Check on the U.K. government’s apprenticeships portal to find a mortgage advisor apprenticeship that is best suited to your needs.

3. Participate in a mortgage adviser course of instruction

A lot of banks and building societies across the U.K. provide adviser training programmes that can will help you acquire the skills, experience and mortgage advisor qualification you require to start the career of a mortgage advisor. Your education plan could help you obtain the necessary professional certificates you require to fulfill the requirements for this job. Building societies and banks often offer such training programs.

Featured News