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Mortgage advisor - commission for selling mortgages and insurance??

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  • ACG
    ACG Posts: 24,613 Forumite
    Part of the Furniture 10,000 Posts Name Dropper I've helped Parliament
    The problem with that though is the network would not be happy with that. 

    You have to be up to speed with lenders and criteria/credit scoring changes periodically - not all of these changes are picked up, you just pick up on slight tweaks here and there over time. You cant really be up to speed with everything if you are doing 1 a month, 2 at most. Im not trying to talk you out of it. I think you could do well as you say you have customers there waiting. But within 6 months if your not doing maybe 30 a year (possibly more), networks wont want you. They wont be earning enough from you but you also pose a greater risk due to potential lack of up to date knowledge.

    My personal view is that if you are doing it, you probably need to be aiming for maybe 5-10 cases in the first 6 months, but then you probably need to start upping your game, with a view to getting to maybe 30-40 plus within 12-18 months. Otherwise you will start to feel the network breathing down your neck. 


    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.
  • JMA74
    JMA74 Posts: 264 Forumite
    100 Posts First Anniversary Name Dropper
    Double CPD hours would be enough to make me forget the idea. 

    Most mortgage brokers i know have been pulling ridiculous hours to secure rates and waiting hours on the phone to get updates or deal with issues.  

    There is a great proportion of people who can barely do this in full time hours. Not sure how part time would work.  Maybe just before covid when everything was easier, but not now. 
    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.
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