| Qualified mortgage brokers must undergo a
| |
| | passing the subjects for each
|
| series of exams and receive some
| |
| | qualification can normally be completed
|
| on-the-job training and experience.
| |
| | via distance learning or through private
|
| Because all financial advice in the UK is
| |
| | training institutions.
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| regulated by the Financial Services
| |
| | Several post-graduate courses are also
|
| Authority (FSA), mortgage brokers fall
| |
| | available that can bolster the
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| under the stewardship of the regulator.
| |
| | credentials of mortgage brokers. They
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| The FSA has determined that mortgage
| |
| | include the Advanced Certificate in
|
| brokers must complete one of the approved
| |
| | Mortgage Advice and Practice and a
|
| qualifications and receive training and
| |
| | qualification in lifetime mortgages.
|
| guidance from other qualified advisors
| |
| | Mortgage brokers may also use their
|
| before becoming authorised mortgage
| |
| | qualifications and experience as a base
|
| brokers.
| |
| | to launch a career in financial advising.
|
| Once mortgage brokers are authorised,
| |
| | This will involve passing several more
|
| they may advise their clients in all
| |
| | exams and gaining some experience as a
|
| matters relating to mortgages within a
| |
| | financial advisor.
|
| bank or building society, a mortgage
| |
| | In order to maintain their qualification,
|
| brokerage, an estate agency, or they may
| |
| | mortgage brokers must participate in
|
| establish their own practice and work on
| |
| | continuing professional development. This
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| a self-employed basis.
| |
| | usually involves keeping up with the
|
| The first step to becoming a mortgage
| |
| | mortgage industry through some form of
|
| broker is to pass one of several
| |
| | structured, ongoing learning.
|
| qualifications that are recognized by the
| |
| | There are no entry requirements for
|
| FSA. They include the Certificate in
| |
| | undertaking the mortgage broker
|
| Mortgage Advice from the Chartered
| |
| | qualifications. Therefore a finance
|
| Insurance Institute, the Certificate in
| |
| | related degree is not necessary. While
|
| Mortgage Advice and Practice from the
| |
| | some employers may consider industry
|
| Institute of Financial Services, or the
| |
| | experience to be beneficial, people
|
| Mortgage Advice and Practice Certificate
| |
| | skills and high levels of motivation are
|
| from the Chartered Institute of Bankers
| |
| | also highly regarded.
|
| in Scotland (Scotland only).
| |
| | Working conditions will vary considerably
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| If the individual is already working for
| |
| | depending upon whether the individual
|
| a financial institution their employer
| |
| | works on an employed or self-employed
|
| may cover the costs of the
| |
| | basis. Conditions will also vary between
|
| qualifications. The study involved in
| |
| | mortgage brokerages.
|
