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Mortgage adviser

Mortgage advisers help people find, and apply for mortgages.

Salary, a pound sign Salary: £22,000 to £70,000 average per year
Hours, a clock face Hours: 35 to 40 per week

1. Entry requirements

You’ll need to take a qualification in mortgage advice that’s recognised by the Financial Conduct Authority (FCA). You’ll take this qualification through your employer. 

It will help if you have GCSEs at grades 9 to 4 (A* to C) in English and maths. Relevant work experience in customer service, sales or finance will also be useful.

You can:

  • apply for a mortgage adviser training scheme run by banks and building societies
  • work your way up from a customer service adviser role in a bank or building society, or as a mortgage administrator in a firm of brokers
  • get into this career through an apprenticeship
Most employers will expect you to have a credit check and a background check, which they'll arrange for you.

2. Skills required

You’ll need:

  • excellent communication and listening skills
  • the ability to explain complex information clearly and simply
  • the confidence to work with numbers and explain them to clients
  • IT skills
  • excellent customer service skills
  • the drive and motivation to meet targets

3. What you'll do

Your day-to-day duties may include:

  • advising clients on the homebuying process
  • finding out about your client's finances
  • explaining the different types of mortgage
  • explaining about repayments and mortgage protection
  • offering a number of mortgage options for the client to choose from
  • selling related financial products like buildings or life insurance
  • helping the customer complete the mortgage application
  • meeting sales targets
  • dealing with estate agents, valuers and mortgage lenders
  • keeping up-to-date with new mortgage products and any changes in the law
If you work for an estate agent or mortgage broker, you’ll offer mortgages from a range of companies. 

In a bank or building society, you’ll only sell your own company's mortgage products. 

You could also be an independent financial adviser (IFA), providing information on all types of financial products, including mortgages.

You’ll need to follow strict industry rules and guidelines, which make sure that you act fairly and are qualified to give appropriate financial advice.

4. Salary

Starter: £22,000 to £25,000 (basic salary)

Experienced: £45,000 and £60,000 (salary with commission)

Highly Experienced: up to £70,000 (salary with commission)

You’ll usually be paid a basic salary plus commission.

A salary package may also include car allowance, insurance and pension benefits.

These figures are a guide.

5. Working hours, patterns and environment

In a full-time job you’ll work 35 to 40 hours a week. 

You might work standard office hours, or shifts including evenings and weekends in a contact centre.

You’ll usually be office-based, although some independent advisers work from home.

6. Career path and progression

With experience, you could manage a team of mortgage advisers, or you could choose to become a self-employed independent adviser. 

You could also take further qualifications to become a financial adviser.

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Last updated: 14 September 2017