Career change at 49 years old to mortgage adviser

Cupranod

I'm looking for some advice and opinions regarding the above.I am studying my CeMap qualifications with the intention of becoming a mortgage adviser,and will be taking CeMap 1 very soon,which I am confident of passing.

In the past 15 years,I have run my own contract cleaning business for much of that time,employing staff and doing all the sales,contract management and business operations as necessary.Due to my divorce and relocation,I sold the business a few years ago and have been working in the transport industry in my 'fall back' occupation-it's very much a stop gap whilst I get on my feet.I'm doing it so I can have a salaried position to get a mortgage; once that is secured I want to change my career.

At my age,is it feasible to go into the financial services industry? I have excellent life,work and business experience,along with good communication skills and a genuine desire to succeed.I love selling,and did well negotiating contracts for my business.My intention is to move into the equity release market and take my CaRer exams having gained 12 months experience selling mortgages and protection.

Any advice would be appreciated,and I am mindful that ageism does exist in the employment market so I want to be realistic and well informed.

CalumHeath

I think it would depend on whether you were going to work for yourself or seek employment with an existing company.

With professional services (such as Mortgage Advisor), you might find it easier to start working for yourself from the beginning (presuming you are / become competent).

Regardless of your age, a potential employer may overlook you for somebody with many years' more experience doing the same job - if you worked for yourself you would not necessarily have to disclose your level of experience to potential customers, as long as you provided a satisfactory service.

bugslet

Might be an idea to ask on the Mortgages and Endowments board, there was,probably still is, a few mortgage advisers that hang out there.

Good Luck.

ACG

I dont think ageism exists in the industry, whenever I go to the events and seminars that are on 99% of the time I am the youngest there (im 31). I would say the majority of people there are men who around 45-60ish.

Seriously, I could not have chose a worse industry to join as a 20 year old lad! I should have become a hairdresser or something. No women, no lads my own age it was a right shocker of a decision.

You will struggle to become self employed for a year or 2. Chances are you will have to join a bank or sell your soul to an estate agent for a year but im sure there will be options. Running your own company will likely mean your good with figures, understand the self employed (which in mortgage terms are a nightmare most of the time).

All I would say is, pass the exams then forget it all. In the real world those exams are worth sod all, although I suppose that can be said of most exams.

magpiecottage

Whatever you do, be very careful.

If you are directly authorised by the FCA, you MUST trade as a limited company.

Last week a met a retired couple who are being pursued by FOS over a PPI policy, despite the borrower coming to them with a mortgage already in place and insisting on buying it.

Yet others have had limited companies and simply closed them down and retired.

And, particularly if you are going into Equity Release, be mindful that where there's a will theres a disappointed and litigious relation.