How to Become a Mortgage Adviser In the UK : Quick Guide

Introduction to the Mortgage Career Hub welcome to the mortgage career Hub with me Ash Borland I'm a mortgage business coach help mortgage brokers simplify success but this channel is completely dedicated to helping people get onto the mortgage career I'm really excited about this channel I love doing it and in today's video we're going to be talking about how to become a mortgage advisor just a quick Whistle Stop tour really on how to be a mortgage advisor I um have a very deep dive and I'll I'll share it at the end of this a big deep dive into I have a full one and a half hourish blueprint all around how to become a broker but in this video just going to do a Whistle Stop tour as to how to become a mortgage advisor for you so Understanding the Role of a Mortgage Advisor first thing to point out when it comes to becom a mortgage advisor or mortgage broker is what is the difference between an advisor and a broker and the short answer to that is nothing at all they just get different words you get mortgage advisor so you get different spellings for example you'll get broker so you'll get a broker you'll get an advisor with an ER you'll get an advisor sometimes you might even get consultant and then sometimes as well you may even get the word expert so all of these equal the same there is nothing they're all the exact same rle so it's important to understand first of all the're the exact same role so how do you actually become a mortgage advisor or a mortgage broker the first thing you need Getting Qualified: The CMAP Exams to do is you need to get qualified you need to get qualified by your by taking your exam now the exams you need to take are known as cmap so it's cmap and they are broken up into one two and three so there are three exams for cmap and you need to do all of all three of them the first one is all about financial ethics and Regulation and it'll cover things more around stocks and shares and Investments and guilts and loads of random stuff spoiler this none of it you're going to use any of that in at like at all when it comes to becoming a broker it's not really that important the one that will be important however is the other two so these two are very important the other one is not those two are going to be more about mortgages they're going to give you a little bit more information around mortgages that's how that works so you need all three of these to be to be qualified technically now I actually have a video and I will link to that at the end of this specific video which is where somebody was talking about you can actually advise a a friend of mine and a client of mine were saying you can actually advise with cmap one only if the network and and the the people will take you on so we can break that down in a bit more depth so you can do that but technically to be a fully qualified mortgage mortgage advisor mortgage broker you need to have cat one 2 and three now there are other equivalents to this so the other equivalent to cmap is what is known as um a CII exam and these are cf1 or and it could be R1 okay so the cf1 or R1 and that effectively is the equivalent to cmap one and then you have CF6 and that is the equivalent to cmap 2 and three so it's two exams for this one for for this specific one but there are actually the same type of information once you have got past that you now are not just rubbing that out you now are still not the qualified mortgage advisor Achieving Competent Advisor Status (CAS) so you've got qualification now you need to then go and you need to learn to to do the job itself and to do the job itself what you actually have to get is you have to get a thing called Cass so it's c a s and this stands for competent advisor status as a dyslexic no chance I'm going to try and spell that on here so competent advisor status is effectively that you have been that you have been supervised and people will see whether or not they think you whether or not you think you're good enough to do the job you're competent cast takes anywhere from depending on how long it's going to take cast is going to take you anywhere from say three to 6 months most likely it could be a little bit longer depending on what you're doing but 3 to 6 months if you're advising and getting the work done is probably about right and once you've got Cass now you are fully able to advise once you've got Cass you can now go and set up on your own potentially you can go and get you can go and do anything um the thing with Cass just a little alert with that most networks if you do move you need to get cast every place you go so if you go to let's say you go and get employed role at Connells then you decide to go and work with just mortgages you still have to go and get Cass at each one usually it's easier and it will be easier anyway because you'll know the job but you do still have to get Cass at every place but to get Cass as a brand new adviser that's the first bit the hardest bit to do once you've got C then you are able to go out on your own Next Steps and Additional Resources now you are fully an adviser and that's how you become a mortgage advisor now from there you can decide if you want to go self-employed you can decide if you want to go employed you can do anything you want to do and if you are trying to be successful as a mortgage broker then I would guarant I would absolutely recommend you go and check out my free guide I've got a free downloadable guide in the comments um and also in the description and it is my top five success secrets for making it in mortgages cuz once you've been qualified that's just the first part once you're fully qualified and signed off now we actually have to do the job properly and that is the hardest bit to do now as I Conclusion and Further Learning said on this one if you want to learn about how you can potentially start advising before you have cmap 1 cmap 2 and three just with cmap 1 then check out this video on screen here where we dive deep into that specific topic and I'll see you in the next one bye