Mortgage adviser
Mortgage advisers help people to choose a finance deal which is right for them when buying a property.
What you'll do
Day-to-day tasks
As a mortgage adviser, you would:
- talk to clients about type of property they want
- gather information from clients about their finances
- research suitable mortgage products and explain how they work
- guide clients through the mortgage application and buying process
- advise on related insurance products, if appropriate
- work closely with estate agents, valuers and mortgage lenders
- meet company sales targets
- keep up to date with mortgage products, market trends and regulations
Working environment
You could work in a contact centre, in an office, at a client's home or at a client's business.
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 training to become a financial adviser, offering guidance on insurance, pensions and investments.
You may wish to use your skills to work in the wider property sector, for example as an estate agent or licensed conveyancer.
What it takes
Skills and knowledge
You'll need:
- customer service skills
- maths knowledge
- to be thorough and pay attention to detail
- excellent verbal communication skills
- the ability to sell products and services
- the ability to think clearly using logic and reasoning
- administration skills
- the ability to use your initiative
- to be able to use a computer and the main software packages confidently
Restrictions and Requirements
You'll need to:
- have a credit check
- pass background checks
How to become
You can get into this job through:
- a college course
- an apprenticeship
- working towards this role
- training with a professional body
You could do a college course which will give you some of the skills and knowledge you need to get into a trainee mortgage adviser role.
Courses include:
- business
- business and administration
- T Level in Finance
Once working, your employer may put you through mortgage advice training.
Entry requirements
Entry requirements for these courses vary.
- 4 or 5 GCSEs at grades 9 to 4 (A* to C), or equivalent, including English and maths for a T Level
More Information
You could apply to do a Mortgage Adviser Level 3 Advanced Apprenticeship, or Financial Adviser Level 4 Higher Apprenticeship.
These take between 1 and 2 years to complete. They combine training on the job and study with a learning provider.
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
- 4 or 5 GCSEs at grades 9 to 4 (A* to C) and A levels, or equivalent, for a higher or degree apprenticeship
More Information
You could join a bank or building society as a customer service adviser, or a mortgage administrator in a firm of brokers.
You could then move into mortgage advice, as you gain more experience and complete relevant qualifications while working.
You could apply to take a qualification in mortgage advice that is recognised by the Financial Conduct Authority (FCA). There are several qualifications available, such as the:
Once you've completed your training, you will need to be employed by a company that offers mortgage advice services. You'll work under supervision and be assessed in order to achieve competent adviser status. This is needed to register with the FCA as an 'approved person'.
Registration
- you'll need to register as an 'approved person' by the Financial Conduct Authority
Career tips
The salary on some job adverts may include a figure for on-target earnings (OTE). This relies on meeting individual or company sales targets. In cases like this, you should check what proportion of the salary is made up of OTE.
Further information
You can find out more about careers in the financial industry through Walbrook Institute London.
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External links
This page contains public sector information licensed under the Open Government Licence v3.0.