Mortgage advisor help

theblades

Hi, Im looking for some advice. Im thinking of doing my CeMAP 1,2 and 3 to get qualified as a mortgage advisor. A good friend of mine owns an estate agency and there is room in his office for me to set up on my own, if this is possible, with him passing on any leads he gets to me. The trouble is im really not sure of the best way to go about this and after hours of searching the web i still cant seem to find much out, so i was hoping someone on here may be able to give me some advice. After doing my CeMAP training what would be the next step's to having a buissness of my own??? What other training would be needed etc and how do you get to the point where you can sell numerous banks mortgages? I hope that makes sense.

Thank's in advance

Marc

holly_hobby

My best advice would be for you to get experience and "learn the ropes" as an employed trainee mge adviser - your employer may even support your training and payment for your CeMap exams.

Once you have gained suitable experience and market knowledge - then you may wish to look at becoming a mge adviser - either completely self employed or as part of a group. (who will also give your training and compliance support).

Hope this helps

Holly

GMS

You would be better getting some experience before setting up on your own.

Try calling some mortgage networks to see if they have any firms willing to take on a trainee. You may well be expected to fund the cost of your training and supervision. Once you are classed as a 'Competent Adviser' your training fees would usually disappear. You would then be free to write business without full supervision.

Once you had the experience you could consider going it alone.

Not as easy as passing CeMAP and setting up on day 1.

Good luck with it all. You will no doubt have plenty telling you that you are mad but if you want to do it then go for it.

erdd2

I have a friend that was "in there" and set up his own rather successful mortgage brokers in the 80s yuppie years and enjoyed the growth position and benefits. H claims it is a tough business to break into or be in now......but I say that about the industry I was in. I believe fs is sales orientated......if like me you are not a "sales person", I would advise...avoid...does not make me a failure or bad person.....good luck....gather experience and knowledge before you hit any buzzer

theblades

Thaks for the reply guys.

It just seems to good an opportunity to turn down. I just neeed to get enough money together to do the training, then i will be on my way. Then hopefully in a year a will be where i want to be. I feel i need to do this to better myself and hopefully be more financially secure to provide for the family. Im currently earning 30k would it be realistic to think i could earn more as an IFA??? A million dollar question i know.

Any more advice???

Thanks again