{"id":29280,"date":"2022-01-26T09:07:01","date_gmt":"2022-01-26T09:07:01","guid":{"rendered":"\/blog\/?p=29280"},"modified":"2022-01-26T09:09:08","modified_gmt":"2022-01-26T09:09:08","slug":"should-i-consider-a-career-in-mortgage-advice","status":"publish","type":"post","link":"https:\/\/www.stonebridge.uk.com\/blog\/financial-services\/should-i-consider-a-career-in-mortgage-advice\/","title":{"rendered":"Should I Consider a Career in Mortgage Advice?"},"content":{"rendered":"\n

If you\u2019re considering a property-related career, one of the options that may be on your radar is working as a Mortgage Advisor. If it\u2019s not, it should be, as this role has a host of benefits on offer to anyone who has a passion for property, numbers and understanding the legalities around property ownership.  <\/p>\n\n\n\n

Ignoring the earning potential and role-related perks for a moment, becoming a Mortgage Advisor<\/a><\/strong> can be a significantly rewarding career. For many people, the only way to own a property is by securing a mortgage.  <\/p>\n\n\n\n

So, no matter if the people you are dealing with are hoping to get their first home or take a huge step towards setting up a business, you can help them navigate the complex loan process and make their ambitions become reality. <\/p>\n\n\n\n

Below, we answer many of the questions surrounding Mortgage Advisor jobs that will help you decide whether this is the career for you. From \u2018What do mortgage advisors do\u2019 to \u2018how much does a Mortgage Advisor cost?\u2019 and even how to become a Mortgage Advisor with no experience! <\/p>\n\n\n\n

What Does a Mortgage Advisor Do?  <\/h2>\n\n\n\n

In short, a Mortgage Advisor helps their clients understand the mortgage products available to them. While this may sound simple, it can be incredibly complex, as many factors are taken into account to determine the outcome.  <\/p>\n\n\n\n

Whether the mortgage is required for a property or land, for residential or commercial use, for an individual, couple or group of people, whether those people are employed or work for themselves, and more, all impacts the products that are available to them.  <\/p>\n\n\n\n

As a Mortgage Advisor<\/strong><\/a>, it is your job to understand in detail and advise on the extent of the mortgage products on offer, as well as the laws, interest rates, and repayment options surrounding each product for every type of mortgage applicant.  <\/p>\n\n\n\n

You will also be frequently asked for advice on how to best prepare for the mortgage application process, by those who are researching their options early and want to get themselves into the best financial position.  <\/p>\n\n\n\n

How Much Do Mortgage Advisors Charge?  <\/h3>\n\n\n\n

As with any career choice, one of the main factors that is considered when weighing up if being a Mortgage Advisor is a good career is how much do mortgage advisors earn. If you\u2019re asking yourself this same question, you\u2019ll be pleased to know that this career path offers substantial earning potential.  <\/p>\n\n\n\n

An entry-level or trainee Mortgage Advisor<\/strong><\/a> can start on anything between \u00a322,000 to \u00a325,000. With experience gained after a few years, you could be earning north of \u00a350,000 and in the most senior Mortgage Advisor jobs, this can be up to \u00a370,000 a year.  <\/p>\n\n\n\n

If you\u2019re wondering \u2018How do mortgage advisors get paid?\u2019, this typically depends on whether you work as an employed Mortgage Advisor in established firms like the Mortgage Advice Bureau, or you operate as an independent Mortgage Advisor and charge your clients by the hour.  <\/p>\n\n\n\n

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Do Mortgage Advisors Get Commission? <\/h3>\n\n\n\n

This again depends on the capacity in which you work, but in many cases, it is possible to receive commission on top of your basic salary or fees as a Mortgage Advisor. This is because many mortgage lenders pay the Mortgage Advisor a commission (typically around 0.35% but can be up to 1% of the loan size) for getting the buyer to use their mortgage product.  <\/p>\n\n\n\n

Depending on the loan amount you secure, this can provide you with a substantial additional influx of money, in addition to a typically already good Mortgage Advisor salary. <\/p>\n\n\n\n

Are Mortgage Advisors in Demand? <\/h3>\n\n\n\n

Yes, Mortgage Advisors are very much in demand. So, by becoming qualified in this field, you will benefit from a high level of job security.  <\/p>\n\n\n\n

This is due to a host of reasons, namely because despite the fact that the property market fluctuates like all other markets, there is always a demand for properties. Increasing rent rates are also driving the shift from renting to buying, which is putting even more competition and urgency behind the mortgage application process.  <\/p>\n\n\n\n

Now, there is a constant influx of people looking to purchase land or property, and not enough professional mortgage advisors<\/strong><\/a> to cater to this need.  <\/p>\n\n\n\n

Does The Role of a Mortgage Advisor Offer Flexibility? <\/h2>\n\n\n\n

Yes, it does. Thanks to technology, there are a host of ways you can work as a Mortgage Advisor. If you work as an employed Mortgage Advisor in somewhere like the Mortgage Advice Bureau, you will often have to work to a set contract of hours. This may be a mixture of office hours and shifts that cover evenings and weekends to cater to client availability.  <\/p>\n\n\n\n

In these cases, you may be able to opt for a shift pattern that better suits your needs, but if you want to utmost flexibility as a Mortgage Advisor, you would be better off becoming self-employed<\/strong><\/a>. This allows you to run your business to your own schedule and in a capacity that suits your lifestyle.  <\/p>\n\n\n\n

Rather than having a premise to run your business from, you could work as an online Mortgage Advisor and give advice over the internet or phone. Besides providing you with the freedom to work from home, this also means you can expand your offering and become a nationwide Mortgage Advisor.  <\/p>\n\n\n\n

This would help bring your services to a wider market. Rather than people having to type \u2018Mortgage Advisor near me\u2019 into the search engines and travel to get the advice they need, you can provide it to them easily and conveniently from the comfort of their homes.  <\/p>\n\n\n\n

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Is There Much Career Progression for Mortgage Advisors?  <\/h2>\n\n\n\n

Yes, there is! As such a varied market, there are a number of ways you can shape your career as a Mortgage Advisor. Once you get your qualifications and branch into mortgage advice, with experience, you could move into any number of specialisms.  <\/p>\n\n\n\n

These include providing:   <\/p>\n\n\n\n