Training to become a mortgage broker

gitsui

Hi, I am considering a change in career direction. I have an old style (2002) FPC 1 and passed CF2 last year. My plan was to study part time on CF3 then 4 &5. However I am looking into either studying CF6 or CeMAP's after I finish CF3 and then attempt to get a job as a mortgage broker whilst I study CF 5 &6.

The help I need is in deciding wether to study CF6 or CeMAP. I understand CF6 is a bit easier than the CeMAP exams but I would like advice on which one is most preffered by employers, any views would be appreciated.

Thanks in advance...

_Andy_

Hi and welcome to MSE

You do realise there's a glut of qualified advisers/brokers already on the market and hardly any job opportunities?

VIGILANT22

Quote: My plan was to study part time on CF3 then 4 &5. However I am looking into either studying CF6 or CeMAP's after I finish CF3 and then attempt to get a job as a mortgage broker whilst I study CF 5 &6.?????...

I doubt any are any easier than the other....with RDR coming points are important towards your diploma...any difference in the points betweeen CF6 & CeMap?

Never known employer's differentiate, the fact you're studying for you financial planning exams stands in your favour.....as in the not to distant past...the industry saw an influx of people coming from saturated sales background ie windows/kitchens.....who went off and did this Cemap thinking it was a get rich quick scheme....They are the ones who have damaged the name of the Mortgage Adviser..

My personal view is like in the past you did FPC1,2 &3 then MAQ (Mortgage Advice)......I cannot understand how the industry has a qualification like CeMap that allows you to deal with most people's biggest financial commitment....however if you want to pay 100.00pm into an ISA you're dealt with by a financial adviser...I believe you should be qualified in financial planning and then specialise in mortgages..............

Anyhow, good luck.........

Ye and I should have added what Andy has written.....

cillitbang_3

do you really want to be mortgage broking. Hours spent chasing underwriters for crappy proc fees and life cover that gets cancelled and you have to chase the dross of society (who end up going to their bank because they somehow offer better deals) , for what, 30k a year? Get into investment advice, large premiums, more interesting work and complexity and double pay.