| The lure of becoming self-employed and no | | | | |
| longer having to answer to your boss is | | | | Some self-employed brokers choose to |
| strong in the mortgage industry. A high | | | | specialise in certain product types - such as |
| proportion of mortgage brokers eventually | | | | buy-to-lets and bridging loans - and will |
| leave their positions of employment to | | | | also focus on specific types of clients such |
| practise advising on their own once they gain | | | | as property investors. By concentrating on a |
| the skills and experience necessary to do so. | | | | small section of the overall finance market |
| | | | them will gain expertise and will be able to |
| Many mortgage brokers and financial advisers | | | | advise their clients better. |
| opt for the self-employment route in the UK. | | | | |
| Working for yourself can be a rewarding | | | | Mortgage brokers who choose to leave |
| experience both financially and | | | | employment will also be able to choose the |
| intrinsically. Not having to work under the | | | | location of their work and what hours they |
| careful scrutiny of a manager or having to | | | | work. This is one of the main benefits to |
| feel guilty about calling in sick on a Monday | | | | becoming self-employed. Some brokers may even |
| are just a few of the many benefits of being | | | | work from home and will therefore save |
| self-employed, but more than anything it can | | | | themselves the time, hassle, and expense of |
| provide them with the opportunity to provide | | | | the daily commute. |
| a more personalised service to their clients. | | | | |
| | | | Careful consideration should be given to |
| Those who opt to start their own business can | | | | becoming self-employed in the mortgage field, |
| choose which clients they want to work with | | | | however, as regulation is strict and |
| and can specialise in certain products as | | | | compliance can be costly and time consuming. |
| well. There is a broad range of mortgage | | | | Mortgage brokers who do not work under the |
| products on offer these days, including | | | | protection of an employer will need to make |
| residential, buy-to-let, lifetime mortgages, | | | | their own arrangements regarding compliance |
| bridging loans, commercial finance, and much | | | | with the regulatory requirements of the |
| more. | | | | Financial Services Authority. |