How To Become A Mortgage Broker In UK

By: Michael Hatfield

Whether you are living in Bristol or any other part of UK, you may have come across mortgage brokers and wondered how to become one. Becoming a qualified mortgage broker in Bristol is not easy. You'll have to go through a number of stringent examinations. On-the-job training and relevant years of experience in the financial services industry is an asset in this field.

Certifications for Mortgage Brokers in UK

There are some training institutions in UK that offer courses for becoming mortgage brokers. These include:
1)The Chartered Insurance Institute that offers the Certificate in Mortgage Advice (Cert CII (MP))
2)The Institute of Financial Services offering a Certificate in Mortgage Advice and Practice (CeMAP)
3)The Chartered Institute of Bankers that offers the Mortgage Advice and Practice Certificate (MAPC) (only in Scotland)

Role of the Financial Services Authority (FSA)

The above-mentioned courses are recognized by FSA, which is the main regulatory body for the financial services industry in UK. This rule has been laid down by the FSA itself that all practising mortgage brokers in Bristol or any other part of UK must have completed a certified course.


Anyone can study to qualify as a professional mortgage broker. Even if you don't have a finance related degree you can pursue a course in mortgage advice.

Further Qualifications

Mortgage brokers in UK who have completed one of the several post-graduate courses are easily able to enhance their credentials in the market. A qualification in lifetime mortgages and the Advanced Certificate in Mortgage Advice and Practice are the most important ones in this case.

Experience Matters!

They should also undergo training under the guidance of qualified professional mortgage advisers. Sometimes, financial institutions also sponsor the course fees for their employees who want to pursue such courses that'll add value to the job. Professionals in this field who are working full time can also study for these courses through distance learning or through private training institutions. However, they have to bear the cost of the course fee, study materials and exams themselves if they are not working for any company.

Employers usually prefer to hire those who have relevant amount of experience in the industry as a financial adviser. However, if you lack experience, a higher level of motivation and people skills can also work in your favour.

Role of a Qualified Mortgage Broker

Once qualified, mortgage brokers in Bristol can opt to become self-employed by starting their own practice. Mortgage advisers in Bristol who are qualified as per the terms set by the FSA are legally authorized to advise their clients regarding:
bank mortgages
residential property mortgages
mortgage brokerage
mortgages in a building society
mortgages related to estate agencies

Continued Learning

After becoming a mortgage broker you can't stop learning or you'll lose out in the race for competence. The financial market, especially in UK, has such an ever changing character that it becomes important for mortgage advisers to keep updating themselves professionally. They have to do this by putting in extra efforts through ongoing and structured learning to keep up with the latest developments in the mortgage industry in UK.

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