Understanding the different kinds of mortgage advisor

If you’re planning to become a qualified mortgage broker, your learning journey may already be well underway. There’s a good chance you’ve read around your subject and explored the wide range of mortgages on the market that you’ll be able to help secure for your clients and offer advice on when you get certified. You’ll also be aware that to practice legally as a professional mortgage advisor, while you won’t need a degree for your career, you will need an appropriate qualification.

A Certificate in Mortgage and Practice, sometimes abbreviated as CeMAP, is just such a credential. Following CeMAP training and successfully passing all your exams, you’ll be able to add these letters after your name, letting you future employers and clients know you have an excellent understanding of your chosen career. The CeMAP mortgage advisor qualification is also accepted by the Financial Conduct Authority (FCA), which means you have the legal right to provide advice to those seeking to purchase property.

Whether you opt to go freelance or work for an established firm will be up to you, but there are two main types of mortgage broker you can choose to become. In the following passages, we’ll look at these options.

Whole of market mortgage advisors

As the name might suggest, a whole of market mortgage advisor has the ability to cover far more of the market for their client. This is due to the fact that they aren’t required to use a particular mortgage lender.

The benefit for your clients is they will not be limited to a small or single group of mortgage lenders, unlike options offered by tied mortgage advisors. As a whole of market broker, you will scope out all of the best deals available on the market and present them to clients, effectively giving them a far wider selection of mortgage products they can pick from.

While you won’t literally cover each and every one of the mortgage options available, you’ll offer enough to represent the market for mortgages as a whole.

Operating as a whole of market advisor free of any ties to lenders, you’ll also be able to offer advice without concerning yourself with vested interests.

Tied mortgage advisors

Operating as a tied or multi-tied mortgage advisor, on the other hand, you will be directly connected to a single lender or a group of lenders. In this arrangement, you’ll be limited to recommend the mortgage products provided by the lenders, however, there are some benefits for those you advise. Due to your close working relationship with the lenders, you may often be able to offer clients special incentives and exclusive and select deals.

Experts in professional mortgage advisor training

At Beacon Financial Training, we offer a wide range of CeMAP training courses for those looking to advise clients on mortgages for a living. Whether you are looking to study remotely or in a classroom environment, you’ll find solutions to suit your circumstances. Contact our team today and kickstart your new career.


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