work experience (mortgages)

myright

as some of you guys might already know i have had some intetest in changing careers and working in mortgages. (which I have NO experience at all in).

I was thinking would it be a good idea to ring around some local mortgage specialists and ask for some voluntary work experience? I have one day a week, spare which I can give 6 hours of my time, for what's it worth. I havent yet done my cemap, but thought pehaps some on hands on experience may give me a better insight and further enhance my understanding of the products?

myright

bumppppppp

ACG

What do you want to do in mortgages?
Admin, advising, underwriting, compliance?

i have worked with a few financial advisors and they are all super secretive about their client bank and their area, so doing admin even free may be difficult.

If you want to become an advisor then it may be worth discussing that with them, learning from the ground up so the broker will eventually earn from you selling - thats what will grab their interest.

There are 3 exams, the last 2 you could pass by reading the book i would imagine (i did, i used to be in insurance and banking before passing my exams). The first exam i failed 2-3 times, that is all about rules/regulation and is soooooooo dull thats what makes it hard to pass.

I would look more towards what you can offer a broker other than a free days work and how it will help you both in the future.

Its a shame you dont have your exams as banks especially in manchester are desperate for advisors at the minute.

pogg000

Is the cemap still a current qualifacation?

ACG

yes.

Although personally i passed RO1 and CF6 with the CII rather than IFS.

Wh05apk

For anyone interested in getting into mortgages, I think with MMR coming and the current buoyant market, there is massive potential, banks, and estate agents are/will be desperate for advisors, so if you are able to get any of the qualifications off your own back, then you will be in strong demand.


Don't worry about the exams, they are not rocket science, with a bit of effort most people pass.