Mortgage adviser
Mortgage advisers help people find, and apply for mortgages.
Salary Range: £22,000 to £70,000
How to become a mortgage adviser
You can get into this job through:
- an apprenticeship
- working towards this role
- applying for a trainee scheme
Apprenticeship
You could train through an advanced apprenticeship as a mortgage adviser.
Entry requirements
You’ll usually need:
- 5 GCSEs at grades 9 to 4 (A* to C), or equivalent, including English and maths, for an advanced apprenticeship
More information
Work
You could work your way up from a customer service adviser role in a bank or building society, or as a mortgage administrator in a firm of brokers.
You could then progress into giving mortgage advice as you gain experience and suitable qualifications.
Other routes
You could apply for a mortgage adviser training scheme run by banks and building societies. It will help if you have GCSEs in English and maths, and some relevant work experience in customer service, sales or finance.
You’ll need to take a qualification in mortgage advice that is recognised by the Financial Conduct Authority.
You would develop your skills through a mixture of learning on the job, and studying for an industry-regulated qualification through your employer.
More information
Registration
- you’ll need to register as an ‘approved person’ by the Financial Conduct Authority
Professional and industry bodies
You could join the The London Institute of Banking and Finance, the Chartered Insurance Institute and the Chartered Banker Institute, for professional development and networking opportunities.
Further information
You can find out more about careers in the finance industry through The London Institute of Banking and Finance and the Chartered Banker Institute.
What it takes
Skills and knowledge
You’ll need:
- customer service skills
- maths knowledge
- the ability to accept criticism and work well under pressure
- to be thorough and pay attention to detail
- ambition and a desire to succeed
- the ability to use your initiative
- analytical thinking skills
- excellent verbal communication skills
- to be able to use a computer and the main software packages competently
Restrictions and requirements
You’ll need to:
- have a credit check
- pass background checks
What you’ll do
Day-to-day tasks
Your day-to-day duties may include:
- advising clients on the homebuying process
- finding out about your client’s finances
- explaining the different types of mortgage
- explaining about repayments and mortgage protection
- offering a number of mortgage options for the client to choose from
- selling related financial products like buildings or life insurance
- helping the customer complete the mortgage application
- meeting sales targets
- dealing with estate agents, valuers and mortgage lenders
- keeping up-to-date with new mortgage products and any changes in the law
Working environment
You could work at a client’s business, in an office or at a client’s home.
Career path and progression
With experience, you could manage a team of mortgage advisers, or you could choose to become a self-employed independent adviser.
You could also take further qualifications to become a financial adviser.