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Mortgage advisers assist people in locating the best mortgage to fit their individual needs. This involves a variety of duties.

First and foremost, a mortgage adviser must be aware of each client’s current financial situation so that they have a thorough understanding of what the client can and cannot afford.

Once you understand their finances, you can then begin explaining the different types of available mortgages to your clients and provide them with multiple options to choose from. The role of the mortgage adviser does not stop once a client selects the best mortgage plan for them.

As a mortgage adviser, you also will help your clients complete any application materials, explain repayment schedules and protection plans, as well as sell them any other financial products needed including insurance.

Mortgage advisers are required to stay up-to-date with all the latest mortgage products and any changes in law that might affect their dealings with clients. As a mortgage adviser, you can find work with estate agents, mortgage brokers, banks, building society, and as an independent financial adviser.

Flexible Hours

Working as a mortgage adviser can be either a part-time of full-time job. Most full-time position require a 35 to 40 hour work week in an office setting. Certain companies may have both day and evening shifts available. Some independent consulting and advising work also be done from home.

Expected Salary

The expected salary you can earn as a mortgage broker will vary depending on what type of institution they choose to work in. Those who work for a company will be paid an average annual salary of between £18,000 and £25,000 per year in addition any commission that they earn.

Many salary packages also will include benefit packages. Working as an independent adviser, you will earn a salary based on your set commission price. Salaries for this position vary as well, but can be as high as £50,000 for those with adequate training and experience.

Experience and Skills Needed

Since the primary goal of the mortgage adviser is working with diverse groups of people to meet their needs, exceptional people skills and a positive customer service attitude are crucial to working cooperatively with people and making them feel at ease. It is important to appear honest and trustworthy to your clients.

A background in sales or financial services is beneficial so that you can properly explain policies and procedures to all your clients in a way that is easy for them to understand. Obtaining an Apprenticeship or Internship in some area of the financial industry is an excellent way to gain more work experience. Good mathematical and computer skills also are necessary.

New Employee Training and Continuing Education

Working as a trainee mortgage adviser provides real-world, hands-on experience that you can learn from and apply to future situations. As you continue to learn on the job, you also must study and pass the following qualifications:

  • Chartered Insurance Institute Certificate in Mortgage Advice (Cert MA)
  • Ifs School of Finance Certificate in Mortgage Advice and Practice (Cert MAP)
  • Ifs School of Finance Advanced Certificate in Mortgage Advice and Practice

Once you begin working as a certified mortgage adviser, you will need to keep up with current trends and regulations in the industry and supplement your education when needed.

Career Options

Becoming certified as a mortgage adviser, will prepare you for work in a number of different settings including mortgage and insurance brokers, estate agents, banks, and building societies. If you choose to continue your education and take further qualifying exams, you can advance to become a financial adviser.

Further information

It is worth paying The Council of Mortgage Lenders website a visit for further reading. They have an Events and Training section that you should check out.

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