How to Become A Mortgage Adviser

Becoming a mortgage adviser is a great career choice for those looking to enter into the financial sector. The thought of training in this specialised sector can seem daunting, but the journey to becoming a fully qualified mortgage adviser may not be as long as you think.

To become a mortgage adviser, you will need to complete a regulatory qualification to meet the requirements set out by the FCA. The Certificate in Mortgage Advice and Practice (CeMAP) is the most well-known mortgage adviser qualification in the UK, held by around 80% of mortgage advisers. While there are no prerequisites to undertake your CeMAP qualification, having a good level of English and mathematics is important, as well as excellent communication skills as the job role will entail dealing with a variety of people, from clients to lenders.

In this guide, we take a look at how to get your foot into the door of this industry, explore the different qualifications you can take, and examine the most common pathways into this exciting career.

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 to 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?

As touched on above, CeMAP qualification is entry level and the advised pathway 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. 

How do you get CeMAP qualified?

The first thing you need to do to become CeMAP qualified is get in touch with a provider, such as Simply Academy, and enrol on a course. Once enrolled, 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.

It’s also  worth noting that CeMAP can be completed either as a ‘fast track’ classroom-based course or as a remote e-learning course. All you need to do is choose the course that suits your lifestyle and learning preferences best.

Are there mortgage adviser apprenticeships?

Yes – as mentioned above, an alternative 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 currently be enrolled in full-time education.

What to do once you have qualified

Once you pass your CeMAP exams and hold your certificate, you are a qualified mortgage adviser. Everything to this point has been leading to the moment you actually begin advising your first clients. All your hard work has paid off and you have begun your rewarding new career.

You can advise clients as an independent mortgage adviser or find employment at a bank, building society or mortgage broker. People will always need mortgages and your skills will always be in demand.

The mortgage adviser career path continues…

Once you hold your Certificate in Mortgage Advice & Practice and begin your mortgage adviser career, that’s not the end of the journey. You have exciting prospects to build on your skills and boost your salary through further learning and experience.

The CeMAP qualification is the perfect foundation for qualifications which can hone your skills as a mortgage adviser and take your career in a slightly different direction. Now comes the time to choose your own path, but we’ll always be here to offer guidance and support.

Do mortgage advisers need 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.