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cemap3 exam paper

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  • peddy
    peddy Posts: 137 Forumite
    Part of the Furniture Combo Breaker
    dunstonh wrote: »
    Its where you get sent if you are thinking that being a mortgage adviser is a good career to start in now ;)


    lol I hear they supply a uniform too. The jacket is meant to be a bit restricting but what do you want for free?
  • Mr_Tes
    Mr_Tes Posts: 27 Forumite
    peddy wrote: »
    Certified institutes?

    What I meant was. Shall I go through the agency who will book my exams for me with the added extras? Or go direct to the examining body and book my exams myself?
  • Conrad
    Conrad Posts: 33,137 Forumite
    10,000 Posts Combo Breaker
    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.
  • peddy
    peddy Posts: 137 Forumite
    Part of the Furniture Combo Breaker
    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
  • Mr_Tes
    Mr_Tes Posts: 27 Forumite
    Conrad wrote: »
    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.
  • dunstonh
    dunstonh Posts: 119,638 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    peddy wrote: »
    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.
  • peddy
    peddy Posts: 137 Forumite
    Part of the Furniture Combo Breaker
    dunstonh wrote: »
    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.
  • dunstonh
    dunstonh Posts: 119,638 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    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.
  • coolsolution
    coolsolution Posts: 121 Forumite
    Part of the Furniture Combo Breaker
    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.
  • peddy
    peddy Posts: 137 Forumite
    Part of the Furniture Combo Breaker
    dunstonh wrote: »
    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?
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