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