Is becoming a mortgage adviser a good career choice?

31 January 2024

A mortgage adviser sits with a client in front of a calculator and paperwork.

Typically, a good career is considered to be one that can offer job security, a decent salary which increases as you develop your skills and many opportunities that allow you to progress within your chosen field. A role as a mortgage adviser not only provides all of this, but it also offers flexibility and job satisfaction – which are equally important when deciding on a career.

If you’re thinking of becoming a mortgage adviser, there are some important things you need to know before entering this world. In this post, we highlight some of the key reasons to consider this line of work. We also offer advice on how to take your first steps into this industry.

High demand for mortgage advisers

Something to consider before deciding on a career as a mortgage adviser is whether there is demand for this particular role. When you’ve studied hard to gain the necessary qualifications, such as the Certificate in Mortgage Advice & Practice (CeMAP), you want to ensure the career you’re entering has good employment prospects. Although the property market experiences fluctuations like all other markets, people are always in need of properties and home loans, and so there is always demand for mortgage specialists. 

With the property market showing positive signs for 2024 and beyond, the need for mortgage advisers is likely to remain high. According to a forecast by estate agent Knight Frank, UK house prices will rise by 3% in 2024. Against a backdrop of falling inflation and growing anticipation of interest rate cuts, the company also said it expected a 10% increase in property transactions this year due to rising mortgage approvals. 

Playing to your personal strengths

As well as being an in-demand specialism, a career as a mortgage adviser may play to your individual strengths. Some people are well suited to certain roles because they have the necessary personal skills and attributes to succeed in that particular industry. 

Being a mortgage adviser draws on a number of abilities. These people are tasked with helping clients find and apply for the right mortgages to fit their needs. This requires finding out about clients’ financial situations to ensure they are able to provide the best informed and most professional advice. 

Many people find the mortgage application process to be complicated and confusing, so a mortgage adviser needs to provide continuous support to allow the process to run smoothly. Another part of the mortgage adviser’s role is to ensure that the advice being provided to clients is current and accurate, and this requires them to liaise with estate agents, mortgage lenders and valuers, among others.

Given the nature of the work, here are examples of skills that could help to make you a natural fit to become a mortgage adviser:

  • Good customer service abilities
  • Aptitude for sales 
  • Strong communication
  • Analytical mindset
  • Attention to detail
  • Desire to succeed
  • Ability to use your initiative
  • Good time management 
  • Strong problem-solving abilities

Bear in mind that, even if some of these skills don’t come naturally to you, you will have the opportunity to develop them over time as your career progresses. 

Opportunities to advance your career

People are drawn to careers for various reasons, but one thing in particular that stands out for many is the opportunities available to advance in their roles. This is another reason why becoming a mortgage adviser is a great career option as there are plenty of opportunities to further your prospects and many different avenues you can take. 

As with any career, the more experience you gain over the years, the more opportunities present themselves. A mortgage adviser role could lead to other positions, such as managing a team of mortgage advisers or becoming a self-employed independent adviser.

Additionally, you can explore different but related job roles, such as becoming a financial adviser. To do this, you could gain further qualifications like a Diploma for Financial Advisers (DipFA) to help progress your career. 

Job satisfaction with a rewarding career

The role of a mortgage adviser can at times be challenging and demanding, but it also comes with great job satisfaction. Buying property can be hugely daunting for many people, and trying to navigate the world of mortgages can be complex. As a mortgage adviser, you help to make the process much easier for your clients to understand. 

Not only do mortgage advisers provide the best knowledge and advice on mortgage products, but they also get to help people make one of the most significant financial decisions of their lives, which can be emotionally fulfilling and rewarding. 

How to become a mortgage adviser

So, if you think a career as a mortgage adviser is a good option for you then there are some steps you can take to get started. 

You will need a CeMAP qualification or another equivalent mortgage adviser qualification as a starting point. However, no previous experience or qualifications are needed before you begin a CeMap course. 

Our popular CeMAP courses can be studied in a traditional classroom setting, online through our small group live webinars, or you can opt for our self-study E-Learning course and study at your own pace. 

In addition, a lot of the day-to-day skills required to be a successful mortgage adviser, which are outlined above, can be developed through our AdviserSkills course

 

Of course, as with any career, there are many things you need to consider before committing to such a big decision. However, becoming a mortgage adviser can be a great career choice if you want to help people make important financial decisions, and if you are willing to put in the hard work, you can end up with a fulfilling and rewarding job.

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