Home Business Insights & Advice Starting a career as a mortgage advisor

Starting a career as a mortgage advisor

by John Saunders
29th May 20 2:36 pm

There’s simply no denying that there are a lot of exciting careers out there today. That being said, when most people think about exciting careers, they tend to think of something to do with technology or the Internet. It’s true that there are great opportunities in these fields, but many people overlook mortgage advice as a career. The UK has seen the housing market boom over the past years and even after the current pandemic it’s predicted to continue. This boom means that more houses are sold which in turn means that more mortgages are required. The cycle has created a huge shortfall of qualified mortgage advisors in the UK. Mortgage advisors salaries start at £26,000 and once experienced it can exceed £50,000 per annum.

Getting qualified

In the UK all mortgage advisors must be qualified to give advice to clients. This qualification is called CEMAP. There are several external companies that provide CEMAP Training courses online. The course consists of 7 units that are divided into 3 modules. The course contains information on the UK financial system, Taxes, Mortgage products and much more. Once the first module has been completed students must sit a test and then move onto the second module and so forth until all 3 module tests are completed. The student will then be a fully qualified mortgage advisor.

The course is lengthy and it usually takes around 230 hours for a student to complete it. There are several learning options and the most preferred is online learning. Many people prefer online learning as the course is accessible by various devices such as Laptop computers, Tablets and Smartphones, this means that the course can be studied while you’re travelling or in bed.

Choosing a course provider

There are several CEMAP course providers online and it’s important that research is done before choosing one. Price will play a huge factor into choosing a learning provider. Some companies can charge in excess of £500 for the full course but others charge a lot less. Many companies will also let you break down the course into units so that you don’t need to purchase it all in one go. There have been some companies like uAcademy who have been featured on the BBC for their affordable course which has been receiving great reviews. Choosing a provider will come down to many factors and personal circumstances but it’s important to research thoroughly before choosing one.

Getting to work

The most important part is of course finding a job once you’re qualified. For most professions this simply means applying to a company for a role but as a mortgage advisor you have great flexibility. There are several options that are open to you and you can apply for jobs at a bank or building society, local estate agents, private lenders or you could work for yourself by setting up your own business. The option of setting up your own business is a big draw to this profession and many people with young families do this as they can work from home and manage their responsibilities. The main point is that you won’t be short of options if you choose to become a mortgage advisor.

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