Mortgage advisors provide individuals with advice on home loans. They guide their clients through the available options and help them to find the best home loan for their needs.
Entry qualifications for mortgage advisor roles vary. Employers tend to look for candidates with at least A levels and five GCSEs. Personal qualities are of equal importance as formal qualifications. It may be possible to train to become a mortgage advisor through an apprenticeship scheme such as the Financial Services Skills Councils Advanced Apprenticeship in Advising on Financial Products. Before they are allowed to advise clients, mortgage advisors must sit professional examinations relating to their role.
Mortgage advisors must be good at managing money, proficient at gaining their clients confidence, able to explain complex financial terminology simply and clearly, and experienced in researching and analysing financial products.
Mortgage advisor jobs can be found in banks and estate agents. Full-time and part-time permanent employment opportunities are on offer. However, many experienced mortgage advisors choose to become self-employed. Vacancies tend to be advertised in specialist publications and through financial recruitment agencies. There is a currently a high demand for qualified mortgage advisors with sales experience.
Starting salaries for mortgage advisors may be between £15,000 and £25,000 a year. With experience, mortgage advisors may be promoted to supervisory or staff management positions.