Mortgage Broker Franchise

A look at a UK mortgage broker franchise andweek after. Nine out of the ten passed their
the UK mortgage indutry.relevant exams.
Many people thinking of entering the UK FinancialThe challenges of the CeMAP exams are that
Services Industry as mortgage advisers think thatyou need to learn the qualification content and
the way forward is to look for UK mortgagepass the exams at 70% but that is not all. Many
broker franchises with a view to buying into apeople coming into the mortgage industry have
mortgage broker franchise of some kind. In mynot sat exams for years and in some cases not
opinion, the reality of all this is that most UKsince they left school. Our CeMAP training courses
mortgage franchises either offer bad value forwere built for individuals who are new to the
money or they have just not evolved yet to themortgage industry and as a consequence, we
required standards.teach the course content and mock examine you
With the Financial Services Authority (FSA) nowon a daily basis.
regulating the mortgage industry, it have becomeThe advantage to this system is obvious, not only
an extremely expensive franchise to both set up,are you learning the course content but the exam
train individuals and to maintain the standards settechniques as well. With strengths and
out by the FSA. As a consequence of this theweaknesses identified on a daily basis, it is easy
market is either shrinking or at best standing still.to identify the areas that require extra tuition
With the expansion of Networks springing up induring the week. This proven system allows us to
the UK, a lot of experienced advisers havehelp hundreds of people get through their
scurried under their umbrella and newly qualifiedCertificate in Mortgage Advice & Practice
advisers continue to struggle to find work.(CeMAP) exams per month.
With the regulations of the mortgage industryDo take care, as the route to becoming a
now well on the way, the exodus of the oldermortgage adviser could be fraught with dangers
and under qualified advisers has left a void andfor the unprepared and under researched person,
there is now a massive shortage of qualifiedas the journey could be a long and arduous one.
advisers on a national basis. This is all well andCare should be taken when choosing the
good you may say but if you are a newlycompany for the initial CeMAP training as many
qualified adviser or considering entering theorganisations are strictly in the business of
mortgage industry, how do you get fixed up withoffering either a two-day revision course or a
work or maybe buy into a mortgage franchise.self-study CeMAP examination course that in our
Lets look at this below:opinion is not enough.
Newly Qualified Mortgage AdvisersMortgage Advisor Jobs
The key to finding work as a mortgage is toWe all aspire to the nice things in life but rarely do
quickly identify the market that you would preferwe find the ideal job that gives us job satisfaction.
to work in, e.g. employed or self employed.Before deciding on any career, you have to
Banks, Building Societies, Estate Agentsidentify your strengths and weaknesses and
As an employee, the starting salary of a traineedecide on what career path you want to follow.
mortgage adviser is around £18,000 -Having decided that you would like to pursue the
£25,000 plus bonuses and in somemortgage advisor career, you need exposure.
instances a company car is supplied.The more potential employers that you can meet
These positions are ideal for individuals thatand talk too, the better the chance of finding
require an immediate income, security, and have athose mortgage advisor jobs
preference for being looked after and guided on aThe mortgage market is a recession proof
daily basis.business, as when times are good and consumer
UK Mortgage Brokeragesconfidence is high, people tend to borrow for cars,
There are however individuals who prefer a moreholidays, home improvements and many other
flexible working arrangement of not having tothings. Then, when consumer spending has
turn up for work on a 9-5 situation and prefer topeaked and the economy slows down, many
have the flexibility of working evenings and havingpeople experience difficulty repaying their debts
their destiny in their own hands. Some of theseand meeting their other financial commitments. In
brokerages offer different financial packages andsuch circumstances, it is often necessary for
the may range from fully commission only to partthem to consolidate their debts into one lower
salary and part commission and in some instancesmonthly repayment by remortgaging.
a car may also be provided.Remortgaging clients, debt consolidation, raising
New Entrants and CeMAP Training Coursescapital for home improvements, financing the
Being in the Financial Services Industry for overpurchase of holiday homes are all solutions that a
20 years, many people have asked me what itmortgage advisor will be able to provide and it will
takes to become a qualified mortgage advisor. Askeep them very busy in times of recession.
the Marketing Director of Money MarketingAs previously mentioned, most mortgage
Limited, a company that trains hundreds ofadvisors working for banks, building societies and
budding UK mortgage advisers per month, I feelestate agents work on a salary plus a bonus
that I am well qualified to answer that question.system and the employer keeps the bulk of the
It takes dedication, focus, hard work, the ability tocommission income generated from the sale of
strive for success and a little help from cemapmortgages and insurances. The packages on offer
training courses.to the employed UK mortgage advisor can range
So what criteria should you use when deciding onfrom a minimum of £18,000 pa plus car
your future career direction? Well, try askingand bonuses, to £35,000 pa plus car and
yourself a few of the following questions:bonuses, dependent upon what part of the
· Do you think that you would enjoycountry you work in.
helping people with their finances?For the inexperienced individuals who cannot
· Would you prefer to be an employee?expose themselves to the potential employers
· Would you like to be self-employed?there is help available. Employment agencies,
· Are you determined to become a highreferral systems and inside knowledge are all
earner?areas that will help the determined mortgage
· Are you intent on being successful?advisor job seeker.
· Would you like to be in charge of yourWhich Mortgage Broker Franchise?
own destiny?As previously mentioned, most mortgage
A 'yes' answer to most of these could mean thatadvisors working for banks, building societies and
you could consider investigating how to become aestate agents work on a salary plus a bonus
mortgage adviser but before you do, let us look asystem and the employer keeps the bulk of the
little further. The start to becoming a UKcommission income generated from the sale of
mortgage advisor is passing a mortgage advicemortgages and insurances. The packages on offer
qualification and in my opinion the most recognisedto the employed UK mortgage advisor can range
one in the UK is the Certificate in Mortgagefrom a minimum of £18,000 pa plus car
Advice and Practice (CeMAP)and bonuses, to £35,000 pa plus car and
You will not need academic qualifications to bebonuses, dependent upon what part of the
able to pass the Cemap exams but one thing youcountry you work in.
will need is a strong desire to succeed in a highlyThe best mortgage broker amongst us is well
competitive industry. If you are looking to start acapable of dealing with economic changes, as they
career in Financial Services as a mortgage advisorare well prepared, honed, well trained and have all
but are finding it hard to get your foot in thethe sales skills on board to make the difference,
door, let our dedicated team ofbut be aware that the income of a mortgage
industry-experienced CeMAP training professionalsbroker can vary from £25,000 to
lead the way. We have people travelling to our£150,000 pa. The self-employed mortgage
venues from all parts of the country includingbroker however can determine his/her own
Scotland, Wales and Northern Ireland.income but this can depend on a number of
The best five-day cemap training courses arefactors.
based on groups of around 10 people for ease of· How skilled are they?
control and ability to interact with the tutor. The· Do they and can they charge a broker
courses are extremely focused, intensive andfee?
prepare delegates for the CeMAP 1, 2, 3 exams.. How well trained are they?
The courses fast track candidates in five-days· Do they arrange insurances?
per intensive course, in hotels throughout manyTypical commissions earned from arranging
regions of the UK, including London, Coventry,insurance products can range from a few hundred
Sheffield, Manchester and the North West,pounds to thousands, dependent on the type of
ensuring that one of the CeMAP courses will bepolicy sold. The ability to arrange insurances for
near to you.mortgage protection purposes is a requirement of
The trainers successfully help individuals to passthe Financial Services Authority but as well as that
their mortgage advice qualifications in literally daysit is another earnings opportunity for the go for it
of intensive, fast track cemap training. Having saidmortgage broker.
that, it can be easy for the gifted people who areFor the right person the career of a mortgage
just natural at passing academic exams. I recentlybroker can be extremely satisfying and for the
spent a week with a group of 10 delegates on amost successful ones the world is their oyster, as
CEMAP 2 & 3 training course and the rangethe opportunities are endless. Let your imagination
of abilities on the course was extremely diverse.run away with itself and picture the nice house,
The challenge here for the cemap trainer was tothe quality car, the white sands on holiday and the
get them all to the same standard by the end ofclothes that you have always dreamed of.
the week and prepare them for their exams, the