Help! Mortgage Broker Training

Alice1988

Hello,
Looking for some advice on a career move. A really lovely lady and good friend of mine has offered me a job as a trainee mortgage broker, she will also pay for me to do the CEMAP and other training courses. Is working with/ for just one other person for a small company a good way into this career?

Her way of doing things as well is different to mine. She dismisses process and says she’s compliant with FCA guidelines just about. She’s been in the industry years but if things came to a head and she’d fallen on the wrong side of just about compliant, would I pick up any flack for it? By her own admission she’s not great with admin so this is what I would be helping her with first of all.

Need to let her know today if I want the job and I would be relocating to a new city. Any advice would be appreciated because I’m so conflicted. Thank you.

amnblog

A lovely lady is not necessarily a good Employer, particularly in a regulated Industry.

It sounds like she has potentially got a 'tail' of problem she is dragging around with her.

Before you do anything else make sure she is profitable and regulated with the FCA.

Alice1988

Thank you for your reply. She is both of those things. She has a great client base and relationship with them and she knows her products well. She just seems disorganised and bad at admin. I’m wondering how much of a problem this would be.

xyz123

Alice1988 wrote: »

Need to let her know today if I want the job and I would be relocating to a new city. Any advice would be appreciated because I’m so conflicted. Thank you.

one day to make life changing decision... Doesn't sound right to Me..

dunstonh

I am not a mortgage broker but I employ several of them. I would say that there is no reason not to be compliant. There isnt much a mortgage adviser needs to do to be compliant. So, any shortcutting is pure laziness and/or attitude.

Modern financial services is all about admin and audit trail and doing things right. It would worry me to have an employer that is weak in compliance and administration.

Need to let her know today if I want the job and I would be relocating to a new city.

Half of new advisers don't survive two years in the industry. Most of those leave in a worse financial position. However, the reason for most of the failurs is lack of clients. New city means no contacts. How are you going to get clients?