Become a Mortgage Adviser
Career Guide
How to become a mortgage adviser
Are you passionate about helping individuals and families achieve their dreams of homeownership? Are you interested in a dynamic career that combines financial expertise, communication skills, and a deep understanding of the mortgage industry? If so, then a career as a mortgage adviser may be the perfect fit for you.
By becoming a mortgage broker, you will play a crucial role in guiding clients through the complex process of obtaining a mortgage. Your expertise will empower them to make informed decisions, navigate lending options, and secure the best mortgage terms tailored to their unique financial situations.
This exciting career path offers a range of opportunities, from working with large financial institutions to joining independent mortgage brokerages. Whether you’re just starting out or considering a career transition, the guide will provide you with valuable insights and essential steps to embark on your journey as a budding mortgage adviser.
1000s
of Jobs Advertised
£30,000
Estimated Starting Salary
£70,000+
Potential Earnings
Benefits of becoming a mortgage adviser
Being a mortgage adviser can offer great career prospects, here are some of the key advantages.
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Lucrative Career
A mortgage advisor salary can be significant and the commission-based nature of the job allows for high earning potential.
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Job Security
The need for mortgage advisers remains steady regardless of market conditions. People will always require assistance with financing homes.
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Flexibility
Mortgage advisers often enjoy flexible working hours. You can set your own schedule, which allows for a better work-life balance.
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Client Interaction
If you enjoy working with people and building relationships, being a mortgage adviser offers ample opportunities for client interaction.
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Entrepreneurial Potential
While many mortgage advisers work for established financial institutions or brokerages, there is also the option to work independently as a self-employed adviser and the opportunity to build your own business and brand.
Mortgage Market
The housing market and mortgage industry are integral parts of the economy. By working as a mortgage adviser, you become part of an industry that plays a crucial role in the financial system, providing stability and longevity to your career.
Mortgage lending: The total outstanding value of residential mortgage loans in the UK is more than £1.5 trillion.
Remortgaging activity: Remortgaging, or switching mortgage providers, is a significant activity in the UK. In April 2023, there were 50,566 approvals for remortgaging.
Homeownership rate: The homeownership rate in the UK stands at over 60%.
Buy-to-let mortgages: The buy-to-let sector has been an important part of the UK mortgage market. In Q1 2023, the outstanding value of buy-to-let mortgage loans was over £204 billion.
Mortgage approvals: The number of mortgage approvals for house purchases in the UK reached 105,780 in April 2023.
2022 was a record-breaking year for the equity release market, with a total of £6.2bn in equity unlocked.
Did You Know?
In addition to mortgages, mortgage advisers can offer various related products and services including Mortgage Payment Protection, Building & Contents Insurance, Life Insurance & Critical Illness Cover, boosting their income further.
A day in the life of a Mortgage Adviser.
Qualifications Explained
It all starts with CeMAP!
To become a mortgage adviser, it is essential to obtain the Level 3 CeMAP qualification, also known as the Certificate in Mortgage Advice and Practice. Widely recognised as the standard qualification for mortgage advisers, no prior experience in the Financial Services sector is required to start pursuing this certification.
Simply Academy offers popular CeMAP courses facilitated by experienced trainers, ensuring excellent pass rates. You have the flexibility to choose your preferred learning method. Attend classes at our training centres located throughout the UK, participate in live webinars with small group sessions, or opt for self-paced e-learning.
To enhance your knowledge, many students also opt for our renowned Adviser Skills course. This programme teaches you how to become a mortgage broker by focusing on developing the essential day-to-day skills necessary for a successful career as a mortgage adviser.
Considering a career change?
After successfully completing the CeMAP qualification with Simply Academy and becoming a certified mortgage adviser, you may choose to continue your professional development by undertaking the following.
Level 3 Certificate in Regulated Equity Release (CeRER®)
The CeRER qualification is a professional certification that demonstrates expertise in the field of equity release and helps individuals provide suitable advice to clients seeking to release equity from their homes.
Level 4 Diploma for Financial Advisers (DipFA®)
Follow the well-worn career path of mortgage to financial adviser. If you want to work as a financial adviser in the UK, you must hold a qualification recognised by the Financial Conduct Authority (FCA). The Diploma for Financial Advisers (DipFA) is approved and the perfect step along your new career path
Why study with Simply Academy?
If you’ve decided that becoming a mortgage adviser is the right choice for you, the final question is – Why study with Simply Academy?
Expert study materials
Our team of expert tutors creates and publishes our own study materials, ensuring they are constantly updated and easy to navigate.
Exceptional pass rates
Our pass rates consistently exceed the national average, so you can be confident of success when you choose us.
UK’s largest mortgage adviser training provider
We train over 1,500 mortgage advisers each year so you can be confident when studying with us.
8 out of the top 10 UK mortgage firms have employees studying with us
It’s not just about quantity. Top firms choose Simply Academy to give their employees the best learning experience.
Important Notice:
As CeMAP gains more popularity, numerous unregulated training providers have entered the market and are currently promoting inferior courses through platforms like Google and Groupon. These courses might lack updated information or important content, and the companies offering may not possess the necessary industry experience or expertise to deliver CeMAP training. To learn more about the criteria you should consider while selecting a CeMAP training provider, we invite you to watch our explanatory video.
Frequently asked questions
How do I become a Mortgage Adviser?
To become a mortgage adviser, the first step is to complete the FCA approved Certificate in Mortgage Advice and Practice (CeMAP). Our AdviserSkills programme has been designed to complement CeMAP by undertaking this programme in conjunction you will learn the valuable soft skills required to be successful within this highly rewarding but competitive industry.
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 £25,000 – £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 regulatory qualifications to choose from but CeMAP is truly the benchmark qualification for mortgage advisers. Those new to the industry are recommended to continue their professional development by completing our AdviserSkills programme in order to boost their skills and enhance their CV prior to seeking suitable job opportunities.
