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Mortgage Advisor Training/Career

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  • K_S said:
    @rothers

    Yes, CeMAP is required to be able to work as a Mortgage Adviser, though do keep in mind that it doesn't really help in the job itself :)

    Imho, it's not realistic to start working independently right away. I wouldn't say it's just about getting clients, as there are plenty of ways to get leads nowadays, especially if you're savvy with digital marketing.

    It's more about the rest of the environment - compliance, a safe space to make mistakes, someone to ask questions of, getting used to dealing with applicants and lenders, etc. Plus you will struggle to get an umbrella firm to take you on without CAS (competent adviser status) and experience.

    On the plus side, there is a shortage of advisers and there are opportunities for trainee roles up and down the country, perhaps remote as well. A few large firms are also running 'academies' which might be another option. 
    Who are the typical umbrella firms out there?

    Interestingly I was also looking at this and studying CeMAP and DipFA etc.  I have a relatively good management role within hospitality but it's not something I intend to do for the rest of my days (I'm 34 right now).  I would enjoy something along these lines but I wouldn't be able to afford the reduction in salary to build up the CAS due to dependents.  Do you think there are alternative routes?

    You mention 'academies' - what are these?
  • K_S
    K_S Posts: 6,880 Forumite
    1,000 Posts Fourth Anniversary Photogenic Name Dropper
    @a_lone_hiker If you google 'mortgage networks', the non-ad results that come up will be for the larger ones.

    Academies - like this https://www.justmortgages.co.uk/news/posts/2021/june/just-mortgages-recruits-37-new-brokers-in-june/
    Just to be clear, I'm not recommending Just Mortgages, it's simply a random example.

    Depends on how much is the minimum guaranteed income you need on day 1 but if its any more than 20-25k, you're likely to struggle to get something which pays more straight off in an employed trainee/new-broker role.

    I am a Mortgage Adviser - You should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. 

    PLEASE DO NOT SEND PMs asking for one-to-one-advice, or representation.

  • ACG
    ACG Posts: 24,607 Forumite
    Part of the Furniture 10,000 Posts Name Dropper I've helped Parliament
    K_S said:
    @a_lone_hiker If you google 'mortgage networks', the non-ad results that come up will be for the larger ones.

    Academies - like this https://www.justmortgages.co.uk/news/posts/2021/june/just-mortgages-recruits-37-new-brokers-in-june/
    Just to be clear, I'm not recommending Just Mortgages, it's simply a random example.

    Depends on how much is the minimum guaranteed income you need on day 1 but if its any more than 20-25k, you're likely to struggle to get something which pays more straight off in an employed trainee/new-broker role.
    Im sure one of their area directors, regional directors, dogsbody director or director director will give you a call...

    (Sorry, just a joke. Every member of their staff seems to have the word director in their job title). 
    I am a Mortgage Adviser
    You should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
  • K_S said:
    @a_lone_hiker If you google 'mortgage networks', the non-ad results that come up will be for the larger ones.

    Academies - like this https://www.justmortgages.co.uk/news/posts/2021/june/just-mortgages-recruits-37-new-brokers-in-june/
    Just to be clear, I'm not recommending Just Mortgages, it's simply a random example.

    Depends on how much is the minimum guaranteed income you need on day 1 but if its any more than 20-25k, you're likely to struggle to get something which pays more straight off in an employed trainee/new-broker role.
    Thanks @K_S

    I just had a quick look and came across Sesame.  This sounds promising...

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