Qualifications You Need to Become a Mortgage Broker (UK)

welcome to the mortgage career Hub with me Ash band I am a mortgage business coach helping mortgage brokers simplify success but this channel is about helping mortgage brokers or actually people who are getting into the industry starting out so that is getting qualifications all the way up to getting selfemployed and today's video we're going to be looking at the question which is essential qualifications for UK mortgage brokers what specifically do you need as a mortgage broker in the UK to be able to actually advise that's what we're going to be talking about so the first thing to point out with this is that for a mortgage broker does need to be qualified they do need to have a qualification in order to give advice just so you know this is not the case for insurance advice so for insurance is you do not need to have qualifications as of right now anyway non-regulated advice so you can give and also I think in some cases you can do that as well with like yeah commercial and things there's non-regulated um stuff and and I actually got a bit of a Content at the end that's going to help shed more light on that so stick around to the end for that um because but but with regulated mortgage products which is effectively residential so that is residential property is the main one you do need to have qualifications now what are these qualifications well the qualifications are is referred to often times as cmap so that is cemap cmap and I think it's certificate in um mortgage advice practice I think I always remember that it's just cmap and the cmap exam is broken into three parts the first part is usually Financial Service regulation and ethics which is the one that everybody struggles with cat one is dense it's all about everything to do with financial services nothing really to do about mortgages and then you have cat 2 and 3 which is more mortgage specific and you need all three of these exams in order to be qualified as a mortgage broker now there are also equivalents to this which is actually what I have which is the CI exams so I have cf1 and CF6 and it's from the chartered Institute of insurers and um which is CII and these are it's just another equivalent of doing the qualification now you you need once someone actually asked on a comment of mine on my other channel on my channel more about about um self-employed mortgage brokers which is called Ash Bor and mortgage uh business coach you can check that out if you want to and that specific Channel they were saying that that is um on that one they said you know that they thought you just need to do the cf1 in order to be qualified and you don't you need cf1 sorry CF6 you need cf-1 and CF6 to get that or you need cmap 1 2 and three those are the qualifications you need in order to give regulated advice as a mortgage broker now if you are wanting to then become a broker what you then have to do is you still can't be an adviser at this point you then now have to get what is known as competent advisor status okay competent advisor status is also known as Cass and this is where somebody goes and they sit down with you and they they effectively observe you over a period of time and say that you're competent at the job and that and you're you're under the authority of somebody who is already competent and registered by the FCA and that's quite hard to get so this is all of the effectively the qualifications you need now if you've got a question you would like answered on this show leave it in the comments and I will answer I'll try and make a video on it it should be beneficial also if you are wanting to take to learn how to thrive as a mortgage broker and you're thinking of get into this space go down to the comment section and you will see a pin comment or also in the description it's going to be a link to be able to download my top five success Secrets I've seen from working with all the best brokers that's what I would advise but that is the end of this video what I would say is check out this video on screen now and this video on screen here is me where I sat down and spoke to somebody all about Cass and this is Jim s and he is the head of training for connect intermediaries and he talks about everything you need to know about getting Cass and also potentially how you could advise without even having Cass check that one out