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cemap3 exam paper
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Mr Tes, are you expecting to actually make any money as a mortgage adviser?
As a Man of finance you will no doubt be aware of the Citibank Chairmans comments today - that prices will continue to fall through 2009.0 -
I'm likely to make more than I do now in my current job even in the current climate. That's why I'm doing it0
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Mr Tes, are you expecting to actually make any money as a mortgage adviser?
As a Man of finance you will no doubt be aware of the Citibank Chairmans comments today - that prices will continue to fall through 2009.
I am aware and very worried. I made a calculated and planned decision to change careers and move into finance before the end of 2007. Now the whole industry has gone a bit pear shaped, so i am rather concerned and have my reservations.0 -
I'm likely to make more than I do now in my current job even in the current climate. That's why I'm doing it
Most earn under £20k in the first year. You can also see 3-6 months before a penny comes in as well potentially.
It all comes down to how you intend to get clients. No clients, no mortgages, no income.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
Most earn under £20k in the first year. You can also see 3-6 months before a penny comes in as well potentially.
It all comes down to how you intend to get clients. No clients, no mortgages, no income.
I currently earn £15k a year so anything more than this would be ok with me. I've got savings that should tide me over for about 9 months so fingers crossed I'll be alright.
Would a bank entertain me for a business start up loan? If they would then this would be a great help too.
I haven't decided on how I intend to try and get clients yet. If I decide to join the network they said they will help determine my personal strengths and work out a plan of action.0 -
Would a bank entertain me for a business start up loan?
Probably not. You have no business plan, no clients, no experience and you would just bleed money hand over fist.
What are the typical mortgage amounts in your area? If you say around £80k then 0.25% of that is £200. So, you would earn around £200 per mortgage. Of course at the moment, many brokers are not able to recommend deals that pay a fee. So, that means you have to rely on income from insurance. Thats about £20-£40 on home insurance and about £10pm for 4 years on life assurance.
How many mortgages would you need to complete on to earn what you need? Then work to a ratio of 1 in 5 clients going through. So, if you need 10 mortgages a month, you would need to see around 50 clients a month. How are you going to get 50 potentials a month? Remember you have no clients at the moment and you cannot cold call. Where are you going to get them from?I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
Hi everyone i want to do cemap but no clue where to start.i know i have to register with ifs learning and they are going to send books i guess?is that all ! one more thing to ask is, is it worth taking tution for this!
regards.:beer::T:j:mad::p:D;):cool::eek::rotfl::A this are the signs of a lunatic.0 -
Probably not. You have no business plan, no clients, no experience and you would just bleed money hand over fist.
What are the typical mortgage amounts in your area? If you say around £80k then 0.25% of that is £200. So, you would earn around £200 per mortgage. Of course at the moment, many brokers are not able to recommend deals that pay a fee. So, that means you have to rely on income from insurance. Thats about £20-£40 on home insurance and about £10pm for 4 years on life assurance.
How many mortgages would you need to complete on to earn what you need? Then work to a ratio of 1 in 5 clients going through. So, if you need 10 mortgages a month, you would need to see around 50 clients a month. How are you going to get 50 potentials a month? Remember you have no clients at the moment and you cannot cold call. Where are you going to get them from?
That is a very good point. Advertising in local papers, leaflet drops, website, lead generation companies would be a good start.
I don't know what the average mortgage amount is in my area but the average house price is around £200k.
Aren't most brokers working on the premise of up front fees at the moment anyway?0
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