Become A Mortgage Broker - The Recession Proof Way To Enhance Your Earnings

The mortgage industry is going through many twists and turns as well, but after after every event or action (such as the recent crisis in subprime lending) of industrial dust down and it gets the job in hand, often stronger than before.

The beauty of this industry is that no matter what course of events will always need a mortgage broker. The problem is that there simply is not enough to go around and brokersthat is causing a major headache for the Government and despite their efforts to publicise this and offer various incentives, the UK is still vastly undercovered in terms of professional mortgage advice.

The reason I stated earlier that this industry is recession proof can be backed up by the following:
The more demand for home ownership in a booming economy, the more demand for mortgage advice
If there is a recession and people dont move house, they will remortgage to Improve their properties - another case for mutual professional advice.
If there is a recession and people due to the use of credit cards and defaulting on them or other loans - a mortgage broker can help them refinance their debts.

So you can see that regardless of where we are bankrupt in terms of boom and there is always a need for the services of a full, licensed mortgage broker. The problem is that in the UK there are manyof courses which advertise how you can become authorised or compliant but there are not any courses that can tell you how to actually set up your business. How to start finding clients? How to market your business? Which part of the market to concentrate on?

Becoming a mortgage broker could be potentially the best career dec.ision you will ever make as the financial rewards can be significant with remuneration in the region of £100k per annum the norm, not the Exception. Capital Mortgage Solutions we have first hand experience to build a successful business and then sell and, of course, at that time we won a very nice income from the business. To take from people who have experience of mortgage brokers to be - can be very profitable, and as noted above, where the industry is withering away of new recruits.

Capital Mortgage Solutions we have been trying to fill the void, but we also needthe industry as a whole to take up this issue of lack of professional resource currently available. Don't delay, look into it today and change your life forever.

Become a CeMAP Qualified Broker

CeMAP training and regulation of the UK mortgage market




Regulation of the UK mortgage market has increased in line with the overall trend of consumer protection. It is generally felt that hitherto the mortgage market has been under-regulated. The financial scandals of the 1980's and 1990's resulted in much tighter control over the entire industry, not least for self-employed mortgage advisors. It also resulted in greater clarity and transparency with regard to contractual agreements, with the introduction of The Mortgage Code.



However, there was still a long way to go. In 1998, banks paid out ฃ1.3 million against 12,000 customer complaints - a 35% increase over the previous year. Mortgages represent one of the biggest areas of complaint with lock-ins and high redemption costs.




The principal problem facing the mortgage broker is increased market regulation. In view of current market trends, self-employed mortgage advisors are increasingly looking to operate with organisations which provide them with the requisite infrastructure, enabling them to be competitive and meet ever more stringent regulatory requirements, consequently, Mortgage Networks, IFA Networks are taking an increasing share of the self employed mortgage advisor market.



It does not end there as a further tightening of mortgage regulations took place from 31st October 2004, when the Financial Services Authority (FSA) took over from the Mortgage Code Compliance Board (MCCB) and the need for CeMAP qualifications were rigidly enforced and CeMAP training courses were born.




Because of this expansion, along with the development of e-commerce, websites and direct sales, there has never been a greater need for objective, experienced and professional personal advice.



Consumers need and want objective advice to guide them through the mortgage maze. Self-employed mortgage advisors are taking an ever-increasing share of the market and there is a continuing shakedown within the brokerage sector, with Mortgage Networks expanding their influence.




However, since the tightening of legislation from 31st October 2004, estimates show that that the number of CeMAP qualified personnel who are qualified to advise in the mortgage market have nearly halved.



This loss means that the response time for processing mortgage enquiries is likely to increase, along with a rise in administrative difficulties and the risk of compensation claims.




We all strive for success by studying for university degrees, attend courses and continuously look for a spark for direction in life and it's not until we see a professional person in front of us that we realise that it's a job that we would like to do. It seems easy watching that individual working at the height of their career without realising what price they have had to pay to achieve success.



Being in the Financial Services Industry for over 20 years, many people have asked me what it takes to become a successful mortgage broker. As the Marketing Director of Money Marketing Limited, a company that trains hundreds of budding UK mortgage advisers per month, I feel that I am well qualified to answer that question.




" It takes dedication, focus, hard work and the ability to strive for success plus attending a CeMAP training course in order to become a CeMAP qualified broker.



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So what criteria should you use when deciding on your future career direction? Well, try asking yourself a few of the following questions:





ท Would you prefer to be an employee?

ท Are you intent on being successful?

ท Would you like to be self-employed?

ท Are you determined to become a high earner?

ท Would you like to be in charge of your own destiny?

ท Do you think that you would enjoy helping people with their finances?





A 'yes' answer to most of these questions could mean that you should consider investigating how to become a CeMAP qualified broker but before you do, let's look a little further.



The start to becoming a mortgage advisor means passing a mortgage advice qualification and in my opinion the most recognised one in the UK is the Certificate in Mortgage Advice and Practice (CeMAP)





Do you need to have a degree to pass the exams? You will not need academic qualifications to be able to pass the Cemap exams but one thing you will need is a strong desire to succeed in a highly competitive industry.




Would you like to become a CeMAP qualified broker?
If you are looking to start a career in Financial Services as a mortgage advisor but are finding it hard to get your foot in the door, why not let a team of industry-experienced CeMAP training professionals lead the way.



They successfully help individuals to pass their mortgage advice qualifications in literally days of intensive, fast track Cemap training. Having said that, it can be easy for the gifted people who are just natural at passing academic exams. I recently spent a week with a group of 10 delegates on a CEMAP 2 & 3 training course and the range of abilities on the course was extremely diverse.