How do I become a mortgage advisor?

The satisfaction of empowering clients, excellent earning potential, the chance to grow quickly and the opportunity to work your own hours – these are just some of the perks that come with a job as a mortgage advisor in the UK.

You may be wondering how long and hard the road is to attaining this attractive role, which qualities and qualifications you require and how long it takes. If those are queries you want answered, in this article we will track the path to becoming a mortgage advisor.

What is a mortgage advisor?

First, let’s define the role. A mortgage advisor’s main responsibility is to match home buyers with the best property loan for them. This entails considering the financial position of the buyer, educating them on the financial products on the market that can help them to purchase a home and working with mortgage providers themselves.

As a fully-fledged mortgage advisor, you could look forward to job satisfaction, good pay and flexibility – but you will also be providing benefits to home buyers and their families. You’ll be giving home buyers useful financial advice, helping them with the application process, saving them money by identifying the best deals, and opening their eyes to complementary financial products that they may not have known about.

What do you need to become a mortgage advisor?

The key attributes of a mortgage advisor

Let’s start with the things that don’t come on a piece of paper. What are the qualities needed to be a mortgage advisor? Of course, you may not currently possess all of these characteristics – some can be developed along the way – but it will certainly help if you bring any of the following attributes to the table:

  • Communication skills: Are you a people person? In this role, you will be speaking with people from all walks of life, as well as professionals at all levels of your industry. You’ll need to know how to get your point across, collaborate with others, and convince people of your trustworthiness and reliability.
  • Curiosity: This might seem a strange quality to need as a mortgage advisor, but it is so important. You’ll be constantly scouring the market for mortgage products and staying up to date with the latest industry news.
  • Analytical skills: You need the ability to analyse what is in front of you and assess the affordability and suitability of products.
  • Time management: Your daily life as a mortgage advisor will benefit from organisation and prioritising tasks to meet the needs of your clients.

Learning Foundation Fields

Before you think about enrolling on a course for mortgage advisors, it makes sense to come armed with some basic knowledge...

Do you need a degree to become a mortgage advisor?

The answer is, unequivocally, no. A university degree is not essential but can certainly help you.

Pass required exams

Part of achieving the qualifications you will need as a mortgage advisor involves the successful completion of the Certificate in Mortgage Advice and Practice (CeMAP) course...

How does the CeMAP course work?

The CeMAP course is comprised of modules and exams, and is flexible, allowing you to choose your study intensity.

Modules of the CeMAP course:

  • UK Financial Regulation (UKFR)
  • Mortgages (MORT)
  • Assessment of Mortgage Advice Knowledge (ASSM)

What else do I need?

As we have explained, the CeMAP is considered the industry standard qualification for becoming a mortgage advisor...

How to get started

Once you have your CeMAP qualification, you must gain FCA approval before you start work as a mortgage advisor...