Banking and Finance

ICS Learn logo

How to Become a Mortgage Adviser

Do you consider yourself to be a strong communicator with a desire to help people? Do you enjoy networking and constantly meeting new people? Then perhaps a career in mortgage advice might just be the right choice for you!

As the mortgage industry is subject to continuous legislative and economic reforms, mortgage advisers are expected to be prepared for such changes, in order to provide their clients with top quality customer service.

So, whether you’re hoping to help people secure their dream home, or advising them on the most appropriate mortgage to kick start their business, mortgage advisers are essential in helping clients make the best investment for them.

To give you more insight into this lucrative career path, we take a closer look at exactly how to become a mortgage adviser.

Happy couple mortgage advisor home

What do mortgage advisers do?

Mortgage advisers help guide their clients towards the best and most appropriate mortgage deal available to them, allowing them to identify how much money they are able to borrow based on their salary, current assets, credit history, previous loans (if any) etc. 

Mortgage advisers, above all, must build and nurture positive relationships with their clients, in order to create trust. Other than that, on a day-to-day basis mortgage advisors must:

  • Ensure they are aware of all legislations pertaining to mortgage
  • Stay on top of marker conditions and trends
  • Be aware of the economic factors that may influence their clients’ mortgage option, with some clients opting out of fixed rate mortgages if the interest rate has been fluctuating in recent years
  • Schedule meetings with clients, mortgage lenders or estate agents
  • Research and evaluate clients’ financial background and current situation to provide advice on the most suitable mortgage package available to them
  • Carry out financial checks on behalf of their clients and helping them complete their mortgage application
  • Advise clients on other financial products such as insurance, and explain to them how repayments and mortgage protection work. 
Mortgage advisor desk calculator

How to Become a Mortgage Adviser 

1) Reflect on you existing skills

If you are seeking a career in mortgage advice, the first step is to reflect on your existing skills, assessing how far they are compatible to those required for a successful career in mortgage advice. A competent mortgage adviser should have many skills, of which, having strong communication and listening skills assume the top of the list. 

Some of other skills essential for mortgage advisers include:

  • Being able to explain complex information in a simple and clear manner
  • Excellent customer service skills
  • Having an honest and trustworthy attitude
  • Being interested in legal and financial matters
  • Proficient with numbers and computer literate
  • Being respectful of confidential information 
  • Showing confidence and reliance to deal with confidential information 
  • Being detail-oriented and organised

If you consider yourself to be strong in most of these skills  then you already have a solid foundation on which to build towards becoming a mortgage adviser.

2) Become certified and develop your knowledge

After identifying how far your skills align with those required from mortgage advisers, the next step is to gain an industry qualification, proving your knowledge and ability as a mortgage adviser. 

The Certificate in Mortgage Advice and Practice (CeMAP), in particular, is a great place to start! Being the industry standard qualification, the CeMAP, offered by The London Institute of Banking & Finance (LIBF), will equip you with the necessary knowledge to help you become a competent and successful mortgage adviser.

The certification covers 3 different modules, which are:

  • Module 1 - UK Financial Regulation (UKFR)
  • Module 2 - Mortgages (MORT)
  • Module 3 - Assessment of Mortgage Advice Knowledge (ASSM)

Each of the above modules is individually assessed, and must all be completed in order for you to gain the certification. Once you’ve gained the certification, however, you’ll be able to apply for your ‘licence to practise’ and become a recognised mortgage adviser.

Download Your Free LIBF Course Guide

Get information on our LIBF courses

Share this post

3) Consider your career path

Although an industry qualification can certainly help develop or expand your knowledge in terms of the practical skills required by the job, nothing beats the knowledge gained through work experience and applying the knowledge gained through the qualification into the industry.

There are different ways through which mortgage advisers perform their job, with some being employed by a corporation, while others work as freelancers.

Employed mortgage advisers are tied to an organisation, usually a bank, and are only able to recommend the products offered by the organisation they work for such as bank mortgages. On the other hand, freelance mortgage advisers, often referred to as mortgage brokers, work independently, however, they most often do not have access to exclusive deals, which may affect how and if clients will choose them.

Alternatively, you can kick-off your mortgage adviser career with a paid apprenticeship or a junior role, in order to gain some experience before moving up the career ladder and actively starting to seek senior mortgage advice positions.

Couple signing contract mortgage

4) Continue your professional development 

Acquiring an industry qualification does not mean that you have gained all the knowledge you’ll ever need as a mortgage adviser - far from it. With the legal and financial industries constantly being reformed, it is essential to continue developing professionally, gaining more knowledge as time goes on to maintain your credibility and expertise. 

One of the best ways to stay on top of the latest industry news and developments is by following mortgage advice blogs. There are plenty of blogs to choose from, but here are a few of our personal favourites:

  • Mortgage Finance Gazette: providing mortgage professionals with industry news and updates
  • Online Mortgage Advisor (OMA): offers mortgage advice tips and brings reader the latest news across the industry 
  • Mortgage Strategy: mortgage professionals can read here breaking industry news and leading mortgage industry comet and analysis
  • Your Mortgage: delivers breaking industry news, tips and information on every aspect of mortgages in the UK 

Another great way to expand your knowledge is through more advanced mortgage adviser industry qualifications, also offered by LIBF. Once you have completed the CeMAP certificate, for instance, the CeMAP Diploma can help you showcase your expertise to offer your clients a more advanced service. 

Also, the Certificate in Regulated Equity Release (CeRER) can help expand your existing skills and the services you offer as a mortgage adviser, as you will become qualified to also advise your clients on equity release.

All in all, receiving the appropriate training, paired with having the skills mentioned in this blog and your passion for helping people, is your recipe to success as a mortgage adviser.

Start off your mortgage adviser career with a 100% online CeMAP certification with LIBF.