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How do I become a Mortgage Adviser?

05 February, 2018Toby Brown

compressed writingDuring the New Year festivities, you may have decided that you wanted to branch out and change your job, or even the whole career path you are set upon. Even more so, you may have simply decided that you would get your first job after graduating from uni.

The good news that instead of some of the more far-fetched resolutions, changing careers and becoming a Mortgage Adviser is very much achievable, with a bit of dedication. 

So you want to be a Mortgage Adviser? 

First things first; research and understanding. Do you truly understand the purpose of a Mortgage Adviser? There are a lot of responsibilities and characteristics which are required of a Mortgage Adviser and you will need to be certain that you are the type of person to excel in the role. Details of the type of interpersonal skills you will need can be found in our previous blog. 

Get Qualified

Once you are set on becoming an adviser, you will need the appropriate Mortgage Advisor qualifications. The Certificate in Mortgage Advice and Practice (CeMAP) is needed for any Mortgage Adviser to practice and this particular qualification takes on average 1 year to complete.  While there are no entry requirements, you will need to be able to study in English at Level 3 standard.

The Certificate in Mortgage Advice and Practice) qualification is made up of 3 modules, each with a two-hour multiple-choice question exam. The various modules cover UK Financial Services and regulations in general, Mortgages and its various products, and then how you can apply the built up knowledge to case studies and real-life examples. Once you have completed the CeMAP, you have the option of completing the advanced CeMAP Diploma, although some firms employ Advisers with just the CeMAP qualification. However, the benefits of studying the CeMAP Diploma are highlighted in our blog series, written by Michael Nicholls, a Relationship Director, here at The London Institute of Banking & Finance. 

The CeMAP is provided by a number of third parties, however it is recommended to review the list of recognised suppliers first.

Study Hints and Tips

It is widely known that everyone studies differently, however there are some tips which apply to everyone when studying for the CeMAP:

  • Use the online tools provided by the course.
  • Tune into the Student Forum every now and then to see how the other students are getting on at the same point as you. It’s a good platform to ask for advice and to generally keep morale going before an exam.
  • Assess your areas of weakness from the Examination Analysis provided.
  • Don’t rush! You can even change your final report right up to the submission day, even after you’ve submitted it. 

Preparation for the Mortgage Adviser Role

 While studying for your CeMAP, you have an opportunity to gather the essential interpersonal skills needed to excel in the role. Highlighted below are methods if you are in a current job, or if you are leading up to your first role.

From a current role:

Interaction: make a conscious effort to interact with co-workers and if you are in a role which involves relationship management, you will already possess qualities needed.

Practise assertiveness: the workplace is a good environment to exercise persuasive techniques, which will be needed to assure clients that they are making the correct decision.

Detail: offer to proof-read or fact check a colleagues report or presentation, this will help you develop the meticulous approach required.

Developing skills in personal life:

Interaction: aside from practising this in your part-time job, you can participate actively in school, practise eye contact and body language

Assertiveness: At school, group projects and presentations are good opportunities to exercise assertiveness, volunteer to be the group leader and promote teamwork.

Detail: All school and university subjects require a detailed approach, but even small things like organising your calendar for work and personal life is a step in the right direction.

Once you have started to develop the key skills and qualifications for the role, you may start to think about applying. We hope you have found some useful insights on how to become a Mortgage Adviser. In our next article, we will be covering how to write a CV and cover letter for a Mortgage Adviser position.

Find out more about the CeMAP qualification.