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The complete guide to becoming a mortgage adviser

Mortgage advice makes for a highly rewarding career path and we offer specialist courses to support you at every step.

1000s of Jobs Advertised

1’000s

of Jobs Advertised

£25,000 Estimated Starting Salary

£25,000

Estimated Starting Salary

£70,000+ Potential Earnings

£70,000+

Potential Earnings


Is Mortgage Advice for me?

Whatever happens in the economy, mortgage advisers are always in demand.

Buying a property is a big commitment so individuals and businesses want to make sure they choose the very best mortgage for their individual needs. That means they will seek the advice of a professional… and that professional could be you.

Mortgage Advice makes a highly rewarding career with great prospects:

  • Enter a career with high earning potential
  • Offer a service that is constantly in demand
  • Use your skills and knowledge to genuinely help others
  • Work within a company or go independent
  • Further your career with ongoing learning

In order to become a mortgage adviser, you must first hold a CeMAP qualification or equivalent. Our CeMAP courses are popular and offer fantastic pass rates. Plus, once you’ve completed a CeMAP you could go on to study one of our other fantastic courses.

With the option to continue study with CeRER, CeMAP Diploma or DipFA, you can develop your skills, enhance your CV and boost your pay packet.

Is Mortgage Advice for me?
Mortgage Adviser

Mortgage Adviser

CeMAP®/Diploma

Mortgage Adviser/Equity Release Adviser

Equity Release Adviser

CeMAP®/CeRER®

Financial Adviser

Financial Adviser

DipFA®

What do you need to become a mortgage adviser?

Do you have these five essential skills?

Once you hold a CeMAP certificate, you are legally allowed to offer mortgage advice. However, it’s also important that you develop the following five skills, which will be essential in your new role…

Passion

Your clients will come to you for your expert advice and will rely on your professional opinions. For many clients, the world of mortgages is confusing and daunting. Your enthusiasm for products, services and good customer care will help them to relax and trust your judgement. The more enthusiastic you are, the more rewarding the experience for you and your clients.

Adaptability

The advice you give one client will not be the same offered to another. You need to listen to each situation and understand the client’s unique requirements. This will enable you to offer relevant, tailored and better advice, resulting in happy clients every time.

People Skills

Great mortgage advisers have great people skills. This includes communicating information to your client, helping them feel at ease and truly listening to what they say. If you like working with people, you will find that mortgage advice makes for a rewarding career.

Accuracy

Mortgage advisers hold a position of real responsibility. It is crucial that you are accurate in your calculations so that your advice is sound. Taking the time to ensure you’ve entered numbers correctly and thoroughly checked your work is extremely important. Mortgage advisers must approach work with a thorough, careful attitude.

Encouraging

You are the professional. You have got the qualification and are in the best position to offer mortgage advice. Sometimes clients might need a little persuading to help them understand why the product you’ve suggested really is the best one for them. This is all part of your job role and important in order to ensure client satisfaction.

Where could my career take me?

The industry offers a variety of mortgage adviser jobs.

Employed

Mortgage advisers are employed by banks and building societies to exclusively recommend their mortgage products.

You could alternatively be employed by an estate agent, secured lender or mortgage brokerage. In either of these roles you would offer mortgages from a range of providers.

What could I earn?

If you are employed by a company your work schedule could be full time, between 35 and 40 hours per week. Monday through to Saturday. You would usually have targets to meet but will be offered a basic salary of between £25,000 and £35,000 per year, increasing up to £70,000+ including commission. You might also receive a car allowance, bonuses or pension benefits.


Self-Employed

If the office isn’t for you, many mortgage advisers work independently. This offers you the flexibility to work how you want at hours that suit you and your clients.

Should you choose this route you may become Directly Authorised, however, many advisers new to the industry prefer to work as an Appointed Representative of a network, many of which provide whole of market access and many other benefits, especially around compliance and regulatory changes.

What could I earn?

If you become an independent mortgage adviser, you will choose your own working hours which may include working evenings and weekends to suit your clients. Most mortgage advisers receive commission from the provider around 0.4% of the loan amount but this commission may increase depending on the complexity of the mortgage. In addition, you may earn additional income from selling related financial products like buildings or life insurance.


The Figures

There are 5210 directly authorised intermediary firms in the UK.

There are 5,210 directly authorised intermediary firms in the UK.*

There are 14,169 appointed representatives working within the sector

There are 14,169 appointed representatives working within the sector.

Compared to last year, there has been an increase in total new lending by 6.4% to £66.7 billion.

Compared to last year, there has been an increase in total new lending by 6.4% to £66.7 billion.**

Those firms employ 34,105 approved people.

Those firms employ 34,105 approved people.*

The outstanding value of all residential loans continued to increase in 2018 to £1.417.2 billion, 3.8% higher than a year ago.

The outstanding value of all residential loans continued to increase in 2018 to £1.417.2 billion, 3.8% higher than a year ago. **

An estimated 70% of cases are processed through intermediaries.

An estimated 70% of cases are processed through intermediaries.

*Money Marketing April 2018. **Financial Conduct Authority Sept 2018.

Finding the Right Course

At Simply Academy you’ll discover a range of fantastic financial adviser courses which include the CeMAP qualification.

We’re an industry leading mortgage adviser training school and are experienced in helping people just like you reach their career goals. If you’ve just decided that you’d like to become a mortgage adviser, CeMAP is the ideal entry level course for you. If you already hold a CeMAP qualification or equivalent and want to enhance your skillset, we offer a variety of courses to boost your CV and propel your career.

Whichever path you choose, our experienced, friendly staff are on hand to help you at every step.

FAQs

How do I become a Mortgage Adviser?

To become a mortgage adviser, the first step is to study a mortgage adviser course. The Certificate in Mortgage Advice and Practice (CeMAP) is a fantastic choice. This benchmark qualification is highly respected throughout the industry and prepares you with everything you need in order to begin your mortgage adviser career.

You don’t need any previous experience to begin the CeMAP course and it could be the start of your brand new career.

How much does a Mortgage Adviser earn?

When you become a mortgage adviser you have great earning potential. However, exactly how much you earn will depend on the kind of job you take. For example, if you’re employed by a company and work full time, your basic salary is likely to be £25000 - £30,000 p/a. This could increase up to £70,000 with commission. You may also receive a car allowance and bonuses.

If you decide to become an independent mortgage adviser it is likely that you will earn via commission from the provider. This is usually around 0.4% of the loan amount. Therefore, how much you earn will depend on how much you work.

How do I become a self-employed mortgage adviser?

If you’d like to become self-employed, the route for your mortgage adviser career begins with a CeMAP qualification. Following successful completion of the course, you will need to attract clients by advertising your services.

Many newly qualified Mortgage Advisers choose to work as part of a network whom provide the framework to access products along with many other benefits.

What is the professional qualification for mortgage advisers?

There are a few mortgage adviser courses to choose from but CeMAP is truly the benchmark qualification for mortgage advisers. It is not only highly respected by employers and clients alike, but prepares you with all the skills and knowledge to begin your mortgage adviser career. As soon as you are CeMAP qualified, you are able to begin offering professional mortgage advice to clients.