Jobs in finance: what does a mortgage adviser do?

22 October, 2020Juno Baker

No matter what your career background, if you enjoy helping people, communicating and networking – and you have an interest in the property market – a career in mortgage advice could be for you.

Row of Monopoly housesThis page covers all you need to know about becoming and working as a mortgage adviser or broker, including skills and qualifications as well as opportunities to progress.

What is a mortgage adviser?

A mortgage adviser, or broker, guides people towards the most suitable mortgage for their financial and life circumstances.

As a mortgage adviser, you meet new customers all the time and build relationships with mortgage networks, lenders and business partners. So it’s important to enjoy interacting with people.

You’ll need good listening and communication skills to understand not just what your customers are looking for, but what they need too. And you should be able to explain clearly to clients how the different mortgage products work and which one might suit them. 

Where does a mortgage adviser work?

In your first role you may be employed through a bank or estate agency, or you could be self-employed through a brokerage or network. But as you progress in your career, you’ll find mortgage broking offers a lot of flexibility.

You might continue to work in an office or be home-based. You can be self-employed and operate either:

Sarah Tucker is the Founder of The Mortgage Mum. She says, “As long as you have a mobile phone, a laptop and an internet connection, you can do this job effectively!”

Why does mortgage advice matter?

A mortgage is usually the biggest financial commitment that people make in their lives. It’s essential that people understand what they’re signing up to.

The mortgage market is very complex. Online comparison tools may find ‘the best mortgage rate’, but cheap rates don’t necessarily mean the best value for money or that a customer will be accepted.

That’s where you come in.

Thousands of home owners have come to rely on their mortgage adviser to give sound advice on the most important purchase of their lives.

“Mortgages are about more than just money,” says Sarah Tucker.

“We want to educate our clients, and use this time to talk about their financial and home-ownership goals. We can work with them to achieve these goals.”

How do you become a mortgage adviser?

You can’t operate as a mortgage broker without successfully completing the Certificate in Mortgage Advice and Practice (CeMAP). But you can study CeMAP online and fit your learning around your life and work. 

Once qualified, you’ll work under supervision in your firm to gain ‘competent adviser status’.

How long does it take to get CeMAP qualified?

CeMAP has three modules and on average takes about 12 months to complete. But as the qualification is on demand, you can work at your own pace and finish the course more quickly.

As you advance in your mortgage career, you may want to take more qualifications. CeMAP Diploma will give you the skills you need to deal with more complex and specialist cases.

If you'd like to advise on equity release, you should consider the Certificate in Regulated Equity Release (CeRER).

What’s the best thing about being a mortgage adviser?

“No day as an adviser is ever the same!” says Sarah Tucker.

“I adore helping our clients achieve something truly meaningful in their lives when buying or extending their homes. These are life-changing moments for people. Home really is where the heart is, and we become part of that journey.”

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Find out more about CeMAP