Should I consider a career in mortgage advice?

If you’re wondering if you should consider a career in mortgage advice, you’ll find many strong reasons to do so. While a career practicing advice can be a sound investment for your future in terms of money and time, investigating what is involved is critical.

Whether you are moving from an existing profession or planning your first professional role, choosing a career involves careful consideration. While whether there is a demand for your chosen profession and if you can earn a good living at it are critical questions, it is also important to assess if you are personally suited to the role in question.

Read on as we take a deep-dive into a career in mortgage advice, giving you a glimpse of what’s in-store should you tale this path and the skills and certification required.

Understanding what a mortgage advisor does

Mortgages can be incredibly complex financial products, but qualified advisors help their clients to understand them and offer guidance on the best option for their circumstances and needs. They detail the mortgage products currently on offer, but also, interest rates, laws and repayment options involved. Tied mortgage advisors offer their clients a limited number of products, while whole-of-market mortgage advisors survey all available products and suggest the best options available. Advisors also assist with the application process, making the process smoother and less stressful for property buyers.

Connecting with clients, surveyors, companies offering financial products and other brokers, the role of an advisor is people oriented. If you’re somebody who enjoys meeting and helping new people and communicating and interacting with others, a role as an advisor can be rewarding. However, successful advisors are also readers and researchers, constantly updating their knowledge to bring the best products and service to their clients.

Is there much work for mortgage advisors?

Property continues to be respected as being among the soundest investments a person can make, but also the largest in their lifetime. With many people keen to get a first step or progress up the property ladder, as well as the ever-changing laws and complexities surrounding mortgage products, there is a constant demand for expert advisors who can help navigate the process. As a result, there are numerous roles available for newly qualified advisors who can work for an established firm or cut a path working freelance or with a business of their own.

Career scope for mortgage advisors

Once qualified, mortgage advisors can earn excellent starting salaries, which only increase with experience. Entry-level roles are typically around £22,000 to £25,000 per annum, while mid-level advisors earn double this amount. Top-level advisors, however, can command a salary of up to £70,000.

Many mortgage advisors become specialists in a specific field, while others manage a team of advisors from a senior role. After making a name for themselves, respected advisors sometimes become Independent Financial Advisors (IFAs) with their own consultancy.

Successful advisors can earn commission (usually around 35%) on top of their salaries but also enjoy bonuses for hitting targets. A wide range of benefits are also offered to high-performing advisors, including company cars and health plans.

What is a CeMAP mortgage advisor course?

Here in the UK, the Financial Conduct Authority (FCA) insists that anyone who wishes to practice as a mortgage advisor must have a qualification to prove they have the relevant experience and skills for the role. To meet this requirement, the Certificate of Mortgage and Practice (CeMAP) was created. A comprehensive course divided into three different modules, CeMAP provides brokers embarking on a career in mortgage advice with a background in their new field and equips them with the specific abilities to perform their role.

Each module concludes with an exam made up of mostly multiple-choice questions and after successful completion, course candidates can add the letters CeMAP after their name. As the most recognised qualification of its kind, CeMAP is accepted by employers from specialist broker firms to banks and building societies and seen as a mark of excellence in mortgage advice.

Get your CeMAP Qualification with Beacon Financial Training

If you’re still set on becoming a qualified advisor, obtaining your CeMAP is the first step. At Beacon Financial Training, we offer a range of courses designed to suit your individual needs.

If you prefer learning surrounded by your peers in a traditional training environment, we offer classroom courses led by professional instructors. However, if you have prior commitments you need to work around or prefer studying remotely, we also supply live webinar and home learning courses. Less expensive to enrol in, these options offer the same level of support from teaching professionals.

Offering a rewarding role, excellent salary and benefits, considering a career in mortgage advice makes sense for those seeking both professional and personal growth. Reach out to our team at Beacon Financial Training to discuss which option is best for you.

Considering a career in mortgage advice? Learn more about how to become a mortgage advisor.


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