What are the responsibilities of a UK mortgage advisor?

If you’ve chosen to become a mortgage advisor, once you start down your new career path, you’ll have many new responsibilities related to your role. Whether it’s your first job or you’re changing lanes for a more rewarding career, in the following sections, we’ll look at the different obligations you’ll need to answer as a UK mortgage advisor.

Acquiring your CeMAP qualification

Your first responsibility when becoming a professional mortgage advisor is to become fully certified with a qualification recognised by the UK’s financial regulators. The Certificate of Mortgage and Practice, or CeMAP as it’s sometimes known, is a qualification designed for this particular purpose. From understanding the laws that govern practicing mortgage advice and the products currently available to learning every stage in the application process and dealing with clients, CeMAP training courses will fully equip you for your new role. With a CeMAP accreditation to your name, you’ll have fulfilled your first responsibility as an advisor.

An ethical and professional responsibility to your clients

Once you’re a practising mortgage advisor, you’ll need to meet with your clients over the phone or in person when necessary. Communicating clearly and honestly is essential, so you must explain the type of advisor you are and how you are paid.

Listening is a key part of being an advisor – you must understand your clients’ financial circumstances and know what their regular outgoings are. Once you understand their situation, you can explain the available products and find the best products to suit their needs.

You also have an ethical obligation to ensure your clients can always afford the sums they are borrowing, both in the present and in the future, and you must ensure they fully understand the selections they make. This involves both mortgage repayments and protection.

In addition, you have a responsibility to offer sound advice on all products – not just the mortgage itself, but life and building insurance too – along with general advice on the overall process of buying a home. You must also help your clients to complete their applications.

Responsibility to your employers and others in your sector

As an advisor, you’ll also need meet set sales targets, whether you work in-house or the milestones are set by you personally as a self-employed advisor. You are also responsible for ensuring you always act as a courteous professional in your many dealings with estate agents, lenders and other brokers.

Your ticket to practising mortgage advice

At Beacon Financial Training, we have created CeMAP training classes and courses that allow would-be brokers to acquire the skills and knowledge they need to excel in their newly chosen profession. Instructed and assisted by expert professional tutors, our CeMAP study courses feature easy-to-understand course materials and exam question preparation. Whether you prefer to study in a classroom or on your own at home, we have courses to suit your needs.

Contact our dedicated team today for more information on CeMAP studies and to start your training.


Mortgage Man

Related Posts

CeMAP Course Online pop up
Update cookies preferences