A day in the life of a mortgage adviser

A career as a mortgage adviser can be highly rewarding. Professionals in the role have the opportunity to help individuals at one of the most important times in their lives. They also have the chance to earn a good salary that will only increase with experience. We’ve previously explained how to get started in a career as a qualified mortgage adviser, as well as looking specifically at the qualifications you will need to do this. However, what does a day in the life of a mortgage adviser actually look like? 

In this guide, we explain what mortgage advisers do and how (if at all) they differ from mortgage brokers. We also explore what daily tasks they have to complete as part of their role.

What is a mortgage adviser?

A mortgage adviser is an expert that provides professional advice to individuals, couples and businesses looking to apply for a mortgage. Finding the best mortgage deals can take a lot of time-consuming research. It can also involve talking through individual circumstances with different lenders. Advisers use their experience and connections to search the market on their clients’ behalf. In doing this, they can recommend the best mortgage deals, as well as help to get deals completed.

Another aspect of a mortgage adviser’s job is to stay up to date with the industry. This involves liaising and networking with mortgage lenders, property valuers and estate agents. By doing this, advisers can continue to provide the most relevant and useful advice to clients.

What’s the difference between a mortgage adviser and broker?

On the face of it, there is no difference between a mortgage adviser and mortgage broker. Although the term ‘broker’ is  sometimes reserved for professionals attached to an individual bank or lender and ‘advisers’ for those who operate independently, these titles are frequently used interchangeably to describe the same job. 

Mortgage adviser tasks

The day-to-day life of a mortgage adviser can vary greatly. This will depend on how many clients they are currently dealing with and the stage of the process each client is at. That being said, there are many core tasks advisers have to complete on a frequent basis. These include:

  • Advising clients about their home buying options

This makes up the majority of a mortgage adviser’s role. From discussing mortgage applications and help-to-buy schemes with first-time buyers to explaining how clients can transfer an existing rate to a new property, each client has different needs which need to be taken into account. For this reason, expert knowledge is required over a broad range of subject matters. 

  • Keeping up to date with the current market and regulation changes

Staying updated with what’s going on in national and global markets, as well as domestic regulation changes, is an essential part of the job. Keeping your finger on the pulse in this respect ensures advice provided to clients is relevant, coherent and compliant.

  • Meeting new clients

The key to being a successful mortgage adviser is two-fold. It not only relies on providing the best advice to the clients you already have, but also attracting new clients. After all, once a mortgage application is approved, clients no longer require your services. This means ensuring you have a steady flow of new clients is essential to being successful in this industry.

  • Completing administration tasks

As with any job in finance, a certain amount of time each day will be dedicated to competing routine administration tasks. From updating client records to dotting all the i’s and crossing the t’s on a client’s final mortgage application, admin skills are needed in this profession.

What do I need to become a mortgage adviser?

To become a qualified mortgage adviser you must first gain a Certificate in Mortgage Advice and Practice (CeMAP) qualification. Although other qualifications can help, you don’t need any prior experience in the financial services sector to start studying towards a CeMAP qualification. Here at Simply Academy, our FCA-approved CeMAP courses represent the ideal first step on the road to a new career in mortgage advice.

How to deal with exam stress

Once you’ve worked through the units in your financial services course, it will be time to take your exam. As long as you’ve read through all the relevant modules in full and revised them to ensure that you’re well versed in every section, you should have no problem with taking on and passing the test. However, it’s not always as simple as that. If you’re struggling to deal with exam stress, you may be concerned that you could draw a blank as soon as you sit down to take the exam.

As stress can have such a negative impact on your wellbeing and your chances of passing exams, it’s important to find ways to remain calm. In this blog, we look at how exam stress can affect students, as well as providing our top tips for dealing specifically with CeMAP exam stress. This will include anxiety-reducing tips for both before and during your financial services exam.

How exam stress affects students

Although stress can affect people in different ways, it often involves feeling extremely worried, tense, irritable, negative and hopeless. For some, stress can lead to headaches, a loss of sleep, stomach pains, a reduced appetite and a sudden drop in interest towards things you usually enjoy.

When it comes to studying stress, the pressure of preparing for exams and tests can have very similar impacts. Many students report feelings of exacerbated stress and depression. Often peaking during the exam period, this stress can manifest itself in the form of insomnia (sleep loss), irritability, forgetfulness and even, in very serious cases, psychosis. It goes without saying, these effects can seriously impact an individual’s ability to prepare for and perform in exams. Luckily, there are methods of dealing with exam stress. 

How to deal with CeMAP exam stress

An essential part of becoming CeMAP qualified is passing your exams. For some people, however, the idea of sitting any kind of test fills them with dread and CeMAP exams are no different. The good news is that Simply Academy is here to offer support to ensure you’re prepared with all the knowledge and training you need to pass, but also to help minimise your exam stress.

How to reduce stress before an exam

It’s important that you take steps to minimise stress from the beginning of your course.

Start by limiting how much of the course material you try to learn at a time, taking regular 20 minute breaks and planning something to look forward to after working on your course, such as watching a film, playing video games or meeting up with friends.

You could also consider creating a journal of notes from your course, making a list of areas you need to perfect or setting out everything you need to learn from your course and ticking it off as you go along.

When it comes to the time just before your exam, you can do other things to eliminate stress. For example, you should:

  • Set realistic revision goals

When it comes to revision, if you try and tackle everything all at once, you may feel overwhelmed and panic may set in. In this state of mind, you’re highly unlikely to be productive and that will only make your exam stress worse.

Instead, consider breaking revision down into manageable chunks that will fit into the time you’ve got. Be realistic and set goals that are achievable. You’ll feel a great sense of achievement as you get through your revision and will soon achieve your goals.

  • Exercise 

When you exercise, you’re helping to oxygenate the brain and release tension. In turn, this can help when it comes to staying calm and mentally relaxed. This can make study and revision easier. With this in mind, try to make sure you include at least half an hour of exercise in your schedule each day.

  • Eat, sleep and stay hydrated

If you start to feel stressed in the run up to your CeMAP exams, you may find yourself slipping into bad habits with diet, sleep and exercise.

Convenient, unhealthy food may seem tempting but will not help your exam stress levels nor your ability to concentrate. Take time to eat some healthy food including slow release carbohydrates. Drinking plenty of water is also important. This way you’ll ensure your brain and body are hydrated and have a good supply of oxygen to perform at their best. You’ll also enjoy some stress-busting endorphins as well.

  • Cut down on caffeine, nicotine and alcohol
    Caffeine is a stimulant that is proven to increase your stress levels, and the same applies to nicotine. For this reason, try to avoid drinking more than one cup of regular coffee per day and cut down on smoking and/or nicotine vaping if possible.

Similarly, you should try to limit alcohol consumption during exam periods. Alcohol can act as a depressant. This means it can not only lead to unhelpful hangovers, but it can also send your anxiety levels through the roof.  

  • Listen to music as you revise 

Although not everyone can concentrate with music playing in the background, listening to your favourite tunes can create a positive and productive study environment. In turn, this can elevate your mood, reduce stress and encourage you to study more effectively and for longer.

  • Reduce time on social media platforms

If you are a frequent social media user, try taking a break from these platforms during exam periods. Avoiding checking apps like Twitter, Instagram and TikTok will save you from wasted time checking your feed and prevent you from feeling stress, anxiety and feelings of ‘FOMO’ – all of which can be detrimental to your revision. 

  • Speak to friends and family about how you’re feeling

You don’t have to go through exam anxiety alone. Friends and family are there to support you. So, if you are struggling, don’t be afraid to open up. A problem shared is a problem halved, and when it comes to exam stress, having that extra little bit of support can make all the difference.

How to manage stress during exams

If you’ve been stressed about your exam for some time, the feeling of anxiousness may become unbearable when it actually comes to taking your exam. To combat these feelings during your exam, you could:

  • Take deep breaths

It may sound silly but breathing can really help beat exam stress. Either before or during your CeMAP exams, if you start to feel overwhelmed then take a moment to take some slow, deep breaths. You will not only feel calmer and better able to focus but you’ll also send plenty of oxygen to your brain, helping it work on those CeMAP questions. 

  • Try to remain confident

You’ve done all the training you need to do. You’ve completed practice papers and re-read your notes. You’re ready! Focus, trust in your training and your exams will be over before you know it.

  • Pace yourself

Yes, you have got a time limit for your CeMAP exams, but don’t panic and rush. This will only increase your stress levels and you’ll stop thinking clearly. Instead, concentrate, read the questions properly and answer only once you’ve thought clearly. This is to say,  take your time but also stay mindful of the clock. 

  • Don’t overthink questions
    One of the largest causes of exam anxiety is the fear of not being able to answer a question mid-exam. With this in mind, it’s all too easy to tie yourself up in knots, looking for answers to questions that have not even been asked. To keep stress levels at bay, if you find yourself really struggling to answer a particular question on your CeMAP exam, move on to the next question and come back to it later.  

To an extent, exam stress affects all students, so you shouldn’t be embarrassed, frustrated or disappointed with yourself if you feel like you need support. It may not help to speak to other people who are also doing the same course as you in case their worries add to how stressed you feel.

However, you should consider speaking to your tutor, as they will be able to provide you with help and support with managing stress during the process of completing your course.

A day in the life of a financial adviser

If you’re someone that loves to check the financial section of the newspaper, you possess an active interest in the world of stocks and investments, and/or searching for a new career path in the financial industry, a role as a financial adviser could be exactly what you are looking for. While we have previously explained exactly what you need to do to become a qualified financial adviser, as well as what qualifications you will need to gain, we have yet to explore what a day in the life of a financial adviser actually looks like.

In this handy guide, we explore what financial advisers actually do, how they differ from financial planners, and what tasks they are expected to complete as part of their role. 

What does a financial adviser do?

Financial advisers provide specialist advice designed to help their clients manage their money and assets sensibly and efficiently. In order to carry out this role, advisers are required to have a strong working knowledge of the current financial and economic environment, as well as research-driven, in-depth knowledge of their clients’ individual financial circumstances. This allows them to provide bespoke advice and recommend the most appropriate financial products and services to meet their clients’ needs.

As a financial adviser’s career progresses, there is also the option to specialise to become an expert in certain areas. For example, this could include becoming an employee pension scheme expert for businesses and their employees, or focusing on mortgage, pension or investment advice for private clients.

What is the difference between a financial adviser and a financial planner?

Although both roles fall under the umbrella of financial advice, there are a number of key differences between financial advisers and financial planners. Put simply, a financial planner is a qualified individual that can help to put in place financial plans or strategies that help clients achieve their mid- to long-term financial goals. This can include help with budgeting, investing, saving and pension plans. On the other hand, financial advisers can provide the same future strategy planning as financial planners, while also providing advice and recommending the most appropriate financial products and services to help a client manage their money and assets in real time. This may include, for example, providing specialist advice on investments and stocks, insurance policies, estate management, and day-to-day banking and accounting services.

How are financial advisers paid?

There are a number of different ways that financial advisers can be paid, depending on the work they do and whether or not they are self-employed or work for a firm. Some charge a flat annual fee for the services they provide to each client, with the potential for additional fees to be added to this based on certain recommendations, services or investment advice they provide during this period. Alternatively, other financial advisers charge a one-off commission on the advice they provide and/or the transactions they execute for their clients. 

Financial adviser daily tasks

As touched upon above, with so many services on offer, the average day-to-day life of a financial adviser can vary. However, there are a number of core tasks almost all financial advisers will have to complete on a frequent basis. These include:  

  • Financial market research

Keeping a finger on the pulse of the economy and key financial markets is essential. Simply reading the news and other more niche financial publications is essential in ensuring you are able to continue to provide the best, most relevant advice to your clients.

  • Meeting potential clients

In order to sustain and grow your portfolio of clients, you will have to court new clients regularly. This will involve undertaking client-based research that will allow you to properly assess how you can help the client and how to make your pitch.

  • Servicing existing clients

As well as attracting new clients, looking after the ones you already have is an important part of being a successful financial adviser. To do this, effective communication is key, meaning a lot of time needs to be spent building relationships. This will typically be done through a mixture of face-to-face meetings, regular phone calls, and frequent email correspondence. In terms of the work itself, a large proportion of a financial adviser’s day will be taken up with assessing client portfolios, replying to client inquiries and requests, and addressing outstanding issues.

  • Administration

While part of this falls under servicing client accounts, a certain amount of time each day will be spent on administration tasks. These typically bureaucratic tasks could include the likes of updating client records when required and processing trade tickets.

What is the Financial Conduct Authority?

Whether you’re interested in starting a career in finance, have recently completed a financial qualification, or currently work in the financial services industry, you’ve probably heard of the Financial Conduct Authority (FCA). However, as a newcomer to the sector, it’s only natural that you may be unaware of what exactly the FCA is and the role it plays in finance.

In this blog, we explain the importance of the FCA, how much influence it has over modern UK finance and the financial courses you can take, and how it’s controlled by the UK government.

What does the FCA do?

The role of the Financial Conduct Authority is to regulate financial services in the UK and every individual, firm or company that it relates to. In essence, they focus on three key objectives: ensuring the continued standard of the UK financial system, checking that consumers are sufficiently protected and fairly treated, and encouraging fair competition in the financial industry to benefit consumers.

Regulation primarily affects the financial industry for individuals such as independent financial advisers and mortgage advisers, law firms and banks. However, it’s also applicable to other settings. For example, it applies to the retail sector, as a lot of highstreet and online shops now offer consumers the option to pay on store credit and store cards or even take out loans like they would at a bank.

What does FCA authorised mean?

In the UK, any firm that provides financial, banking or investment services, as well as consumer credit companies and those that provide financial qualifications, must be registered and authorised by the FCA. In order to become FCA authorised, a business must first meet the FCA’s required standards. These include completing a number of application steps, including:

Step 1: Preparing your application
This involves gathering all relevant documentation required to submit your application, such as copies of your business accounts and FCA-specific application forms.

Step 2: Completing ‘controller’ forms
Different types of businesses require different authorisation from the FCA – this is decided based on your business’ response to the specific ‘controller’ forms the FCA will ask you to complete. There are different controller forms for self-employed individuals, partnerships, trusts and corporations. If you are unsure which are needed for your business, simply contact the FCA.

Step 3: Submitting your application
Once all forms have been completed and relevant documents collected, it’s time to submit your application to the FCA. Typically, it will take around six months for the FCA to respond to you.

Even once authorised, a business or training provider can be investigated by the FCA if it is suspected that the firm is not meeting the standards required by the regulator. The FCA even has the authority to prevent authorised businesses from trading, prosecute them, and even win compensation for clients if an investigation uncovers certain regulatory breaches.

How many firms does the FCA regulate?

As of June 2022, the Financial Conduct Authority claimed to regulate the conduct of over 51,000 businesses. Alongside these duties, the prudential affairs of businesses are monitored by the Prudential Regulation Authority (PRA), overlooking 49,000 firms.

Often confused with the FCA, the PRA supervises financial businesses to ensure that their products and services are safe for consumers and don’t conflict with the standards outlined in government legislation. The FCA took over from the Office of Fair Trading in 2014 and the PRA replaced the Financial Services Authority in 2013 following the financial crash.

What powers do the FCA have?

Not only is the FCA a regulator for companies that handle and manage finances, but they’re also able to enforce powers over the individuals or companies that breach relevant legislation.

If an individual or company doesn’t comply with the standards set by the FCA, they possess powers to:

issue warnings, alerts and fines
restrict or suspend future activity
seek criminal prosecution in cases of financial crime
apply for restitution orders, insolvency orders, winding up orders and injunctions from relevant courts
publish detailed information when a warning, decision or final note has been made
request that web hosting companies deactivate websites of wrongdoers.

What is an FCA approved course?

Although the FCA does not create or actively accredit any of its own qualifications, they do provide guidance through a list of requirements that financial qualifications must meet in order for it to be recognised by the FCA. This is to say, the FCA approves of qualifications without actually being a qualification provider themselves. With this in mind, qualifications such as the Certificate in Mortgage Advice & Practice (CeMAP) and Diploma for Financial Advisers (DipFA) – both of which can be completed online with the help of Simply Academy – are examples of FCA approved courses.

List of FCA approved courses

There are thousands of FCA approved courses, offered by a range of accredited qualification providers. The best way to check if a course is FCA approved is to first ensure the provider itself is FCA authorised by searching for their name in the Financial Services Register (the Register) for firms and individuals. Next, simply read all available literature the provider can provide about the specific course you are interested in, and talk to a course leader about the status of the qualification.

Simply Academy, for example, is an FCA approved firm (FCA reference number 648205) and offer a range of different FCA approved courses including:

Certificate in Mortgage Advice & Practice (CeMAP®)
Certificate in Equity Release (CeRER®)
Diploma for Financial Advisers (DipFA®)

Who regulates the Financial Conduct Authority?

The purpose and approach of the Financial Conduct Authority is detailed in specific UK legislation. In the Financial Services and Markets Act 2000 (FSMA), the government is able to explain in specific terms what the FCA is, how it functions and all relevant legislation that applies to them.

As the FCA abides by specific rules outlined in UK legislation, they are required to operate in a transparent way and provide detailed information to parliament, law firms and individual consumers when necessary.

What percentage of apprentices stay in employment after their apprenticeship?

If you’re currently weighing up your options with regards to training and employment, an apprenticeship could be an excellent choice. These schemes blend real, paying work with the chance to train, learn skills and study for valuable qualifications.

But is an apprenticeship right for you? One of the important things to consider is what this kind of programme of work and training can do for your long-term career prospects. Before making such a big decision, you’ll naturally want to know whether an apprenticeship is likely to lead to a full-time job once you’ve finished.

So, just how many apprenticeships lead to long-term employment? Let’s take a closer look at some of the statistics.

How many apprentices are there in the UK?

According to government data, in 2021 there were over 713,000 active all-age apprenticeships in England alone, with a further 37,000 in Scotland and over 100,000 in Wales. 

What percentage of apprentices get a job?

Government research in 2018 uncovered a very encouraging statistic – that 65% of apprentices (of a total of 844) in the study remained in full-time employment after finishing their apprenticeship. While data published by the London Progression Collaboration (LPC) in 2022 showed a 72% fall in entry-level apprenticeship uptake since 2014 (with the impact of the COVID-19 pandemic thought to be the biggest cause of this drop), the percentage of apprentices going into full-time employment or higher education/training is thought to have remained just as high. 

Other research also reveals similarly positive news in terms of job prospects for apprentices finishing their schemes. One study found that a huge 85% of apprentices stay in employment, and 64% of these continue working with the same employer.

This will make a lot of sense for current apprentices, who are trained, valued and invested in by their employer during their scheme. The apprenticeship is tailored to the business, so perfectly prepares them for a career in the company. If there’s a good fit in terms of values and goals, then there’s no reason why an apprentice can’t thrive in the same business as their initial apprenticeship.

It’s not only important to look at how likely it is you’ll get a job after your apprenticeship. It’s also smart to consider career progression. What pathways will be available to you once you finish your apprenticeship? According to one report, a management position could even be on the cards – as researchers found that it takes an average of five years for an apprentice to reach management level in around half of companies that take on apprentices.

Is it easier to get a job as an apprentice?

Although it’s certainly true that apprentices and traditional forms of higher education, such as university degrees, are both highly regarded by employers, they tend to be respected in different ways. University degrees can display a deep knowledge and understanding of a certain subject, presenting a wide range of transferable skills. On the other hand, apprenticeships are more valued for the focus they place on practical knowledge and real-life work experience that can be priceless when it comes to full-time employment.

For this reason, both traditional pathways into full-time employment have their advantages. However, it is certainly worth noting that now, more than ever before, organisations and businesses in a range of industries (including the financial industry) are more willing to offer  apprenticeship schemes as a means of long-term recruitment, rather than only employing those with a degree. 

Can an apprentice have a second job?

Legally-speaking, yes – apprentices can have a second job. However, it’s worth noting that individual apprenticeship scheme employers may not recommend this and may prefer you concentrate solely on your apprenticeship. It’s also important to remember that although you will not be taxed at all if your apprenticeship wage is less than £12,570 per year (for the 2021/22 tax year), if you take on a second job that takes your annual income over this figure, earnings over this personal allowance will be taxed. For this reason, you may need to consider all pros and cons before taking on a second job while completing your apprenticeship. 

Can you claim Universal Credit while doing an apprenticeship?

Yes – as an apprentice you are typically entitled to claim Universal Credit and other benefits, however, the amount you can claim will depend on a number of factors. For example, in order to claim Universal Credit while completing your apprenticeship, you need to have a named and registered training provider (such as Simply Academy), be paid at least the National Minimum Wage (NMW) for an apprenticeship, and also be working towards gaining a recognised qualification. 

Why hire an apprentice?

If you’re an employer deciding whether or not to hire an apprentice, there are a number of crucial things to weigh up. Here are just some of the many benefits of apprenticeships for businesses:

  • Apprentices bring valuable ‘soft skills’ to the business, such as communication, team-working and leadership.
  • Young apprentices can also help to keep knowledge up-to-date within the business, especially when it comes to IT and technology skills.
  • Apprentices can bring a significant amount of added value for the business – a report by Microsoft found that apprentices can add value of around £37,000 per employee, per year. This shows just how important it can be to invest in talent at the apprenticeship stage.
  • The chance to ‘grow your own’ talent. Many employers are facing skills shortages and are struggling to compete with the higher salaries offered by larger competitors. One effective solution can be to set the syllabus for your apprentice and mould this exciting potential talent into a hugely valuable asset, one which could drive your business forward in the future.
  • Upskill your existing team. Do you have an employee with potential, but they need certain qualifications and training in order to progress? An apprenticeship could be a viable option when university is not, helping to fast-track an employee and give them valuable new skills.
  • Youth, enthusiasm and exciting new ideas. Every organisation can benefit from a breath of fresh air, and this is exactly what an apprentice can bring. They’ll have their own ideas and a fresh perspective, which could help to reinvigorate your team and encourage different ways of thinking.

Find out more

If you would like to find out more about financial service apprenticeships in the UK, or any of our other financial services courses, feel free to contact the Simply Academy team today. Our friendly team is made up of experts when it comes to apprenticeships and is always on hand to answer all your questions and help you find the best apprenticeship scheme or further education course for you. 

How to get into mortgage advising

Whether you’re searching for a change of career or you’re just out of university and are thinking of taking those first exciting steps to finding your true calling, mortgage advising could be the option you’re looking for. From the rewarding feeling of helping people who need it and the ability to set targets and goals to the opportunity to progress to different roles, this career path is ideal for those with good communication skills and an honest and trustworthy attitude.

Many people use a financial service apprenticeship as a gateway to working as a mortgage adviser, but it can be daunting to know where to start. If you want to increase your suitability and knowledge ahead of working in the financial sector, there are a number of additional steps you can take as you begin your career in providing professional mortgage advice.

How do I train to be a mortgage adviser?

The Certificate in Mortgage Advice and Practice (CeMAP) qualification is entry level and the advised qualification for those who aspire to become a mortgage adviser. Anyone can apply for the CeMAP course, with each of the three modules comprising multiple choice exams that can all be completed online.

However, before signing up to study on a mortgage adviser course, it may be worth considering one of many ways to give you a head start into the world of financial advice.

For additional preparation prior to your course, you could, for example:

  • develop a greater understanding of the terminology and lingo involved in mortgage advising and financial advice as a whole
  • study mortgage advice privately through textbooks and information from accredited sources
  • run through online courses, moving from beginner tests to more advanced tests as your knowledge grows
  • request mentoring or guidance from experts in the sector
  • attend conventions and conferences related to mortgage advice
  • complete a foundation course in mortgage advice.

Part of becoming a professional adviser within the finance sector is the ability to possess an extensive understanding of rules and regulations around the field you’ve chosen to specialise in. Whether this is mortgage advice, advice in equity release, or the broader topic of financial advice, it could take a prolonged period of time to find your feet, so putting extra time aside could benefit your development.

Are there mortgage adviser apprenticeships?

As mentioned above, one way to start your career as mortgage adviser involves training as an apprentice. Mortgage adviser apprenticeships allow you to build up your knowledge and skills while also gaining priceless on-the-job experience and professional mentorship. Following an approved study programme which leads to the industry-recognised CeMAP qualification, apprenticeships of this kind usually take 12 months, on a full-time basis, to complete. However, unlike when you learn in your spare time, while you are enrolled as a mortgage adviser apprentice with an approved training provider, you can also earn while you learn. 

To get started as a mortgage adviser apprentice, you will typically need to have at least five GSCEs (A* to C or 9 to 5), including maths and English. You will also need to have been a  UK/EEA/EU resident for the last three years and not be enrolled in full-time education.

How do you get CeMAP qualified?

If you want to get into mortgage advising but you don’t think an apprenticeship is for you, enrolling on a private mortgage adviser training scheme that culminates with a CeMAP qualification is an excellent option. By opting to enrol with a recognised CeMAP training course provider, such as Simply Academy, you can complete your level 1, 2 and 3 CeMAP qualifications and take the vital first steps towards becoming a qualified mortgage adviser.

Once again, there are typically no entry requirements when enrolling on a CeMAP course. However, you will need to be able to study English at a level 3 standard.

Do mortgage advisers get an FCA number?

The Financial Conduct Authority (FCA) moderates and regulates the conduct of individuals, businesses and the entire economy across the United Kingdom. As soon as you complete your course, you’ll need to make sure that you’re abiding by the necessary guidelines for working as a professional mortgage adviser, and this includes adhering to FCA rules and guidelines.

Every role relating to financial advice must be approved by the FCA, with financial advisers, independent advisers and mortgage advisers included. To become approved by the FCA you need to meet the criteria set in the fit and proper test and in the Statements of Principle and Code of Practice for Approved Persons (APER).

If you work within a firm, the company you work for must apply on your behalf, and they will need to prove your capabilities, but you can also apply as an individual adviser. Upon approval, you will receive confirmation along with an individual FCA number, just as you would if you applied on behalf of a business.

Is mortgage advising a good career?

If you are willing to put the work in and demonstrate a real enthusiasm for this profession, being a mortgage adviser can provide you with a financially sturdy and truly rewarding career. Once qualified, this profession gives you the opportunity to not only help people during one of the most important and often stressful points in their lives, but also to enjoy real job satisfaction and earn a very competitive salary which can increase quickly with experience. 

To find out more about how you can become a mortgage adviser – whether you want to enrol on a private CeMAP course today or think you are better suited to an apprenticeship – contact Simply Academy today. Our knowledgeable team is always available to answer all of your questions and provide you with the expert advice you need to get your new career ambitions off the ground. 

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