What you need to become a mortgage broker

Jan. 25, 2011 - PRLog -- Mortgage brokerage is one of the most popular professions within the UK’s financial industry. That’s because it’s a reliable and lucrative line of work and, with the right mortgage broker training, it is relatively easy to get into compared to some careers in the banking and financial sector. There is high demand for fully trained mortgage brokers and Training Wizard (http://www.training-wizard.co.uk/) helps to meet this demand by matching those looking for the rich rewards of this career with the right training courses to ensure they quickly secure a job in the mortgage broker industry. If you’re considering retraining to become a mortgage broker, this is what you will need.

First, and most importantly, you will need to carry out your CeMAP training. CeMAP stands for the Certificate in Mortgage Advice and Practice, the nationally recognised mortgage broker qualification awarded by the ifs School of Finance. Any reputable mortgage firm will look for CeMAP qualifications (and the CeMAP letters after the candidate’s name) before considering hiring any new brokers. Brokerage and financial advisory firms will look for this mortgage adviser training, which covers aspects such as technical mortgage knowledge, compliance, insurance research and knowledge.

There are elements covered on the CeMAP courses which candidates may already have experience in from other professions, such as selling and closing skills. Mortgages are financial products after all, and while it is the mortgage broker’s job to advise on the best product for its client, it is also it’s job to sell the client the product that is right for them, and to close the sale. Negotiation skills are also helpful, for instance when it comes the agreement of a broker’s fee. Even if you don’t have natural sales and negotiation ability or experience from your previous profession, these important skills are covered in mortgage adviser courses as well as the more technical aspects.

Over and above the technical and professional components of the CeMAP training, and the necessary sales and negotiation skills, you will need tenacity, commitment and drive to become a mortgage broker. After all, this is as near to a recession-proof financial career as it is possible to find because even in times of recession, mortgage brokers can find themselves busy broking remortgage deals. The training may be tough, but the rewards are worth it. Choose a trusted financial training academy which commits to supporting you until you pass your CeMAP training and you’ve completed the first and the most important step. Find out more at http://www.training-wizard.co.uk/.