Trainee mortgage consultant salary?

The average salary for Trainee Mortgage Advisor jobs is £37,500. Read on to find out how much Trainee Mortgage Advisor jobs pay across various UK locations and industries.

How much do mortgage consultants earn?

Mortgage adviser basic starting salaries are usually around £22,000 to £25,000. Commission may be paid on top of this. With a few years’ experience you can expect to earn in the region of £45,000 to £60,000, including commission. Highly experienced advisers can earn up to £70,000, including commission.

Is mortgage advisor a good career?

A career as a mortgage advisor is rewarding in so many ways. You have the opportunity to help people at an important point in their lives, enjoying the satisfaction of your work being truly valued. On top of that, you could discover real job satisfaction and earn a great salary which increases with experience.

How long does it take to become a mortgage advisor?

See also  There are two parties to a mortgage

You could train through an advanced apprenticeship as a mortgage adviser. It typically takes around 12 months to complete through a mix of learning on the job and study.

Is the CeMAP exam hard?

One reason why some people are tempting to study CeMAP solo is to save the cost of course fees, but the CeMAP exam is a challenging one. There are three exams and you need to score at least 70% to pass each module accurately to pass.

Is CeMAP equivalent to a degree?

The Certificate in Mortgage Advice and Practice is officially registered as a Level 3 qualification, making it equivalent to an A level or college qualification.

How do mortgage advisors get paid?

Most mortgage brokers are paid on a commission basis meaning that, for every mortgage they successfully complete on behalf of their customers the advisor then gets paid a commission from the lender.

How long is a CeMAP course?

For those who prefer to work at their own pace, the CeMAP Distance Learning course is ideal. The same high quality course materials are available online for study anywhere, at any time. The average time to complete the course via Distance Learning is three-four months.

How do I start my mortgage lending career?

  1. Step 1Apply for your NMLS account and ID number.
  2. Step 2Complete your NMLS Pre-License Education.
  3. Step 3Pass the NMLS Mortgage licensing exam.
  4. Step 4Apply for your CA MLO license.
  5. Step 5Complete background checks and pay all fees.
  6. Step 6Associate your NMLS account with your employer.
See also  What does a mortgage closer do?

Is mortgage advisor a hard job?

Daniel: It’s such a rewarding role, but it can be challenging. You spend a lot of time with people and you have to check a lot of information. It’s important that you can hold a conversation, as you need to really engage your customer.

Are Mortgage Advisors in demand?

Despite recent challenges, mortgage careers can actually be a very good choice in the current economic climate. … With the introduction of stricter regulation and tougher mortgage applications, there is growing demand for qualified mortgage advisors to help borrowers understand their options and make the right choices.

Do mortgage brokers earn good money?

You’ve probably sussed it out by now, but the commission model is great because it won’t cost you anything. Commissions are still determined by how big the loan is, but the percentage a broker earns tends to be around 0.35 to 0.45%. Your mortgage broker must declare how much, if anything, they’ll earn from the lender.

How much does CeMAP exam cost?

How much does the CEMAP Exam Cost? The Certificate in Mortgage Advice and Practice (CeMAP) is a level 3 qualification, and three tests must be passed to be a qualified mortgage advisor. The CeMAP Exam prices are listed below. Each module test is priced at £185, and this fee is paid directly to LIBF.

What qualifications do I need to become a mortgage broker?

What qualifications do you need to become a mortgage adviser? You’ll need a level 3 mortgage advice qualification, such as: Certificate in Mortgage Advice and Practice (CeMAP) – this is from the London Institute of Banking and Finance. Certificate in Mortgage Advice – this is from the Chartered Institute of Insurance.

See also  How to add mortgage to mint?

Do you have to be good at maths to be a mortgage advisor?

A mortgage advisor must be mathematically literate, though it is not necessary to have a GCSE or A Level in maths. Part of the job is entering information on computer records and looking up information. This requires the advisor to be competent at IT skills.

Is CeMAP 2 harder than CeMAP 1?

They are two separate exams but have the same study material, so you should be able to take both exams after completing your study. The case for doing CeMAP 2 & 3 exams first: … By doing CeMAP 1 first, you will have done the hardest part for most people and many people find CeMAP 2 & 3 relatively easy after CeMAP 1.