Thursday, 15 September 2011

How to Become a Mortgage Broker

Why might you want to take advice from me?

As one who achieved success both as a financial adviser and as a mortgage adviser, I would be the first to tell the aspiring new mortgage professional that, despite what others will tell you, the path to success is rarely described as easy by those in the business, and that certainly includes me. The tragedy is that, although I would never describe it as an easy journey, it really need not be as difficult as it was for me and as it is for the vast majority of other new starters.

What can you expect to earn?

Don't get carried away with references to six figure earnings; this is not an overnight goal and, in fact, most people choose not to drive themselves to such dizzy heights, settling rather in a comfort zone way below that level. However, I have helped many good listeners to reach that level within their first 5 years in the business.

In any event, whether your goal is to earn £30K, £60K or £90K per annum, to work in a bank or as an independent broker, it all begins with the foundation knowledge. To become a professional in almost any field other than sport, we need to pass some level of academic qualification and the mortgage professional is no different.

The industry-preferred qualification is the Certificate in Mortgage Advice & Practice (CeMAP), and anyone wanting to give mortgage advice in the UK must pass this (or a similar) qualification before doing so.

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