CeMap mortgage qualification

(4 Posts)
TryingToJuggle Sun 09-Feb-14 12:14:06

Hi. Not sure if this is the right place to ask for advice but here goes! I'm currently a police officer but due to changes at work/pay/benefits/work life balance I want to look at alternative jobs. I considering g training to become a mortgage/financial advisor with a view to setting up my own independent company. Has anyone done this, any advice? How hard us the studying?

LoveBeingCantThinkOfAName Sun 09-Feb-14 16:04:34

The studying is not that hard, you might be better off working for someone else first though rather than setting up on your own with no experience.

zippyswife Tue 11-Feb-14 11:38:56

trying hilarious! I literally word for word could have written your post. Am also police and am looking at mortgage advising as my way out! I'll watch this thread with interest!

tinyjl Fri 13-Jun-14 15:06:13

Hi, Ive been a mortgage adviser for over 10 years and am desperately trying to get out of the industry! The qualifications arent that hard and there is money to be made but dont think that just getting the qualifications is enough for your own business. Once qualified you would need to register with the Financial Conduct Authority, obtain a Consumer Credit Licence and get professional indemnity insurance all of which will cost you around £2000 before you can even make a sale! After that you need sourcing systems, correct paperwork and a way of getting customers all of which is again heavily regulated and can be costly. It can be a good trade and can fit in well with our own time but you will be FAR better to become a trainee mortgage adviser within an established firm as you will get leads given to you and they pay the overheads. Also having the qualifications doesn't mean you know what makes a good mortgage for your customer - that just isn't in the qualification and only comes with experience! All in all, good luck, it can be worth it but dont try it alone with no experience

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