Those interested in becoming a mortgage advisor are often attracted by the lucrative salary and the rewards of a role that involves helping others to buy a home. However, while it’s true that advisors have excellent earning potential and play an important part in assisting people plan their futures, there are practical concerns to consider.
In this blog, we’ll take a closer look at these practicalities, including what a mortgage advisor’s daily duties are. Read on to find out more.
What will your role as an advisor entail?
As a mortgage broker working in the UK’s financial sector, you’ll be assisting clients to find and then apply for the best mortgage for their needs, ensuring they are always fully informed on the most suitable products currently available.
With a customer’s best interests in mind, it is the role of an advisor to find the ideal mortgage based on their personal finances and situation, and to guide them from start to finish through the entire process.
Responsibilities and duties of an advisor
A full-time mortgage advisor usually works between 35 to 40 hours, and this may include evenings and weekends.
To perform this important service, an advisor’s day-to-day routine may involve dealing with valuers, mortgage lenders and estate agents, among other professionals within the sector. Building working relationships is a key component of becoming a successful broker, so time and effort in this area is rarely wasted.
It is understood that a great deal of time will also be spent communicating closely with clients ensuring they are always informed on what stage of the mortgage application process they are currently at. Securing a mortgage and buying a home can be extremely stressful activities, but you can alleviate the strain on your clients by ensuring you keep them up to date and are dependable.
To practice as an advisor, you’ll need to acquire a qualification accepted by the Financial Conduct Authority (FCA), such as a Certificate of mortgage and Practice (CeMAP). This certification will give you a good grounding in your new career, although once you are practicing you must continue to learn.
The daily role of an advisor also involves constantly revising the knowledge you possess. To ensure you are acting according to UK law, you must ensure that you keep abreast of any changes to legislation. Additionally, to make sure you can always offer your customers the best product for their needs, you must be constantly researching the mortgage market.
For CeMAP and advanced mortgage advisor qualifications, contact Beacon Financial Training today.