Mortgage Adviser Trainee

UK007BullDog

shameless-about-money wrote:

Maximum of TWO appointments per day - I did mention this before.

This would mean a target of 3 mortgages plus associated sales per week.

How are they preying on the financially weak? If they are charging one fee for life then they will end up charging the customer a lot less than a high street bank, not more.

They do prey on the weak with that huge initial fee. Plus then the fees the lenders charge which are called application/booking fees, survey fees, solicitor fees, maybe stamp duty for FTB.

Lenders do not change a fee for their services. I think you are mixing this up with the product fees lenders charge. The lender may charge a booking fee for the mortgage product but not for their services like a broker might. My advice is free and every lender advises on their products free as well. That is one of the reasons why people will still visit their lender or any high street lender for mortgage advice.

In your case the appointments will be mostly in the evening. How are you going to fit in 2 appointments in the evening? Plus the distance/drive it will take you to get from one to the other? Most people want a meeting at around 7pm, by that time they might have had dinner and have settled the kids down. A good fact find will take a good 1 1/2 hours plus the chit chat to build rapport, so you might be out of there by 9pm. Then you need to drive to the next meeting. By the time you get there the customer is already mentally totally switched off or wont even open the door. If you go during the day the Other half will be missing to sign the docs. If they are in then it means they might be on the dow and so the likelihood of getting them a mortgage is nearly nil.

Remember I have been there, done it for a year as i was tied into the contract or I would have had to pay back the costs for training and insurances. What does your contract say on that? Its nearly like being enslaved to the company.

shameless-about-money

All I want is the training. I cannot afford to pay the fees to get the CeMap 1, 2 and 3 on my own. I am living on Incapacity Benefit at the moment.

I would be able to do CeMap 1 no problem, if you think that someone would employ me with that and no experience.

I was the one who slated Cartel - they were just ghastly. I have warned everyone against them. Cartel only do mortgage reduction, nothing else.

If you really seriously think that someone would employ me after doing the CeMap 1 I am prepared to do that.

What I was intending to do with the Company we are discussing is to stick with them for as short a time as possible. I did realise that they would have something in the contract about having to pay back £xK if you leave the Company within a set time period - I cannot ask them that at interview, it seems a little odd to do so. I really was going to use them to get my qualifications and move on.

I have time to play with, I don't have to work for this Company if I choose not to, that is if they offer me a position in the first place!

UK007BullDog

As them what their training consist of next to the Cemap. Cemap is only 10% of the knowledge, non which you will use in every day dealings. Will they let you shadow an adviser and how long? Will you be able to learn the real mortgage process?

shameless-about-money

I give up.

Not going to be able to get anywhere, get the training, get a job, or anything else.

You have all well and truly put me off the whole mortgage industry.

shameless-about-money

Oh well, doesn't matter any more. The Company doesn't want me because I haven't got CeMap 1.

Conrad

magicarp wrote:

.When I was asked why I wanted to be an advisor I said money but looking at some of the threads and there seems little money in it.

Some self employed advisers earn over £150000 pa personal income. One I know makes over £300000 pa - again thats after all expenses deducted.
Some employed advisers earn under £20000.

Conrad

Shameless, foreign property is a key growth area. The commision on a property sale of £200000 can be £20000+. You need a decent speaking voice and have to be sharp and very hard working. Pretty useful if you can 'close a deal' rather than let your competitor take the business.

Dont bother with mature markets such as Spain as the competition is too great, look instead at new markets

shameless-about-money

I am a Clinical Hypnotherapist - my voice is my work!

How do I get into foreign property markets?

UK007BullDog

Shameless,

Going by what you said here about your professions and the email you sent me I would concentrate on finding work in your medical fields you have all your certificates from. I am sure with your medical background you would be able to find a job in a clinic where you do not need to use your hands as much.

Having said that as a mortgage broker you still have a large amount of typing and writing to do, so that might be an issue if you have a problem with your hands.

shameless-about-money

UKB Thanks for the pm

The typing is not a problem - the problem I have is lifting heavy equipment. Writing is not too bad either.

Not going into the medical field again - I want a change

Thanks for your input.

I am going to do my CeMap 1 and sit the exam.

I am not going to be put off by a couple of hurdles!! Not in my nature to do so!