Sharon you look great! I used to be a mortgage adviser years ago for a bank. It was stressful then and those were the easy days! I know Hatfield well - I live in Hertford and work in Welwyn Garden City. You really look like you love lost weight - well done!
Wow Hertford is beautiful. I’m in the old town by the train station xxxx yes it’s stressful. You only had 1 set of criteria. It was yes or no ! It’s a nightmare 10 lenders 9 bits of criteria fit but there’s always one that doesn’t ! Buy to let’s now. Different stress tests according to your tax bracket and hoe long you fix. They change them every day it’s hard to keep up xxxxx
loved this! I can vouch for how amazing you are, totally supportive and going the extra mile for your clients. I also know how much hard work and emotion you invest in your cases so thank you ps - you look lovely, your hair is fierce xx
Great video Sharon. Really informative and honest, which is probably the most important aspect! I was thinking about doing cemap and dipfa. Not surprised about your "bullshit" comment, that whole industry is full of it! I think I might be rethinking my decision.
I would only take a broker job with full admin support. You spend all day repeating stuff to underwriters that they don’t understand ! Check the systems. Some are a nightmare. Intrinsic compliance will drive you crazy.
I've just left a company when you were not allowed a bought cup of coffee. Even got a 100 page booklet on compliance to be signed for. I'm not in the mortgage trade. Interesting video though
It is not enjoyable in the slightest. It is dull and stressful, the worst combination. I'd also suggest the pay is nowhere near it needs to be for that level of commitment, qualification and commitment.
Hi Sharon, that's interesting video, I recently done my qualification and I have to agree it was hard ( I've never gone for a course, just done it myself ). I am lucky enough to have part time job until I will able to make enough profit from mortgages, someone advised me recently that for a start I should focus on insurance side as it might get me some customers for mortgage and I think that's a good idea, can't wait for a new year. Btw, I believe we met virtually on a course recently, it's a very small world :) Kris.
@@sharon-startingafreshat50 Hi again, yes. How would you describe your first days/weeks with Sesame ? If You want You can answer to me directly @ kris.c@routefinancial.co.uk
@@sharon-startingafreshat50 cor can be annoying, I have noticed that they checking over and over if you haven't done the same error, but they are not consistent as well, they pick certain thing on my case but they never do it on my principal cases. I can't compare system with other networks, why don't you like it? If You need any help with insurance side I am happy to help. I haven't done any mortgage so far. Do You buy the leads at the minute?
This was a good and informative video thank you. To be honest it seems like a tough job to start on your own as self-employed. would you recommend working for a good company as a mortgage advisor as an experienced individual?
I'm 3 years late to your comment but hopefully it helps out other people. Extremely difficult to start out of your own, trying to find a client base for yourself is a nightmare at first, and you really have to different yourself from any of broker in whatever way. Definately recommend starting off with a company, and over time you may earn clients through your own doings. Leaving a company and trying to contact clients can lead to bread of contract, but you may earn some of your own clients over time which is hard to do just by yourself.
This is a ton of great info! I’ve been a mortgage broker in Canada for the past 2 years and loving it. Can someone move from Canada to the UK and become a mortgage broker straight away?
Hi Sharon, very interesting video. Apologies if this has already been covered but how would a newly qualified mortgage advisor wishing to work freelance access lenders? Thanks Paul
You need to work through a mortgage club or a network. It’s not feasible for the lenders to pay thousands of individuals. You get mortgage sourcing software to see which is the cheapest lender
Sharon, why do you have to buy the leads, can you not just print 20,000 leaflets and bang them out or do facebook ads or something. 40 quid a lead seems mega high. Thanks
Yes you can do all of that. I haven’t got time to learn / set up ads etc. Leaflets ... good luck with those. I have no idea. I did advertise on a local paper. Got nothing decent. You might get better results. Great to know how it goes
Try generating your own leads. It’s not cheap or easy. Time is money. Just have to suck it up I’m afraid knowing that 50% will be time wasters / losers
Thank you sharon. I want to become a morgage adviser and just wanted to ask with your experience do you think morgage advisers are in demand and is there a future in morgage advisers.
Hi, great video thanks, would love to see your follow up videos but says unavailable is there a way I could watch them? I am looking to leave a fairly good career to the world of mortgages but just trying to best research. Any points hugely appreciated . Thanks
Hi I’m currently studying for CeMap, I find it difficult, I gave the exam and I fail, the questions are so confusing, and no way near the questions to Libf. Did you said in this video that you have to pay £260 to have access to lenders?
Thanks for providing some really information. I would like to change my profession to become a Mortgage advisor. Would you advise me where I can start ? What courses I should do? Thanks.
HI Shah, the benchmark qualification is the CeMAP course. There are a lot of online courses and sometimes heavily discounted on Groupon, so it's worth checking their page sometimes. Good luck.
@@oliviagreenfield7475 Hi Olivia, as far as I have seen, the courses were from official institutions and there were several different ones, so have a look and if in doubt, try and contact the institutions for some clarity. Good luck!
A very interesting vid. U work hard bless u. I worked for a mortgage broker years ago as a secretary. Antony Gover I would imagine u do yr job very well as well as being professional u r very kind. Xxxxxx
Hi there Sharon, great video. I remember watching your video before i started working as an advisor a year ago, are you still in the industry? I can’t lie I became quickly disillusioned after starting the role, not enjoyable whatsoever to me and thinking about going into something else tbh. I feel like it’s incredibly hard to get the earnings in this role and the case checking and having to double back on your cases is a nightmare, not to mention the stress of when an application goes wrong though i’ve been told this happens often and it’s something to get used to. I feel like a lot of what you said resonates with me. I’m going to stick it out for now and then try and get into something relevant using the experience I have, do you have any suggestions on something an ex broker could easily move into that would be more rewarding financially? If you’re not still in the industry would be interested to hear what you’ve moved into? Thanks!
Nope. No longer broking. Company I worked at folded. I started a new role. Hated it. Recorded calls. Picking holes in everything. You started at the wrong time. Interest rates have gone sky high. I imagine people won’t be so willing to pay a broker fee if their mortgage has shot up. I’m living frugally on Btl and air bnb income. Not sure what I want to do. But I grew to hate the job x
Hey, Sharon would a CEMAP also qualify you to advise on commercial mortgages or just residential? Or are commercial mortgage brokers totally different?
hi miss at the start of the video you said you got 10-15% of sales so 85-90% goes to the agency I presume ? But after that you said that your cut was atleast 50% which got me confused would you mind explain please
Hi Sharon, very informative video so thank you. Can I ask if you'd need perfect credit to be a self employed mortgage broker, or only if employed by a firm?
Both. They do allow a bit of leeway. But if your credit profile is a mess - ccj defaults etc it’s going to be difficult. You could ask a potential employer before looking at jobs. I would say a broker who is directly authorised (not a network as the network will have more red tape and no flexibility). Let me know how it goes !
Really helpful video, thank you. You touched early on on credit history. My credit has always been perfect with only 1 blemish ever which was a CCJ for a £200 parking fine 4 years ago (I actually found out about it when applying for my current job and thought they'd made a mistake at first. I paid it off once I'd tracked it down so it was settled but not fully removed). Would this scupper me or is it a matter of degrees?
Am I too old at 48 to become a Mortgage advisor, looking to work for a company eventually once qualified. I know more about mortgages than "Joe Bloggs" as I have a handful of BTL properties.
Really pleased to hear this! I’m 45 and have just taken the step. I’m currently in the Arts industry, which is so unpredictable at the moment, so I really fancied a change and the chance to learn something new.
I think it’s a big advantage. Especially if you’ve got your own mortgage. I chat about how difficult it was as a first time buyer but now my mortgage is peanuts compared to rent. The same on buy to let side. Someone this week was going to sell their residential and their but to let on 5% mortgage. I’ve given him options. He’s now going the route of releasing money from his buy to let, a let you buy on his residential and releasing equity and buying his new one .... 3 mortgages instead of 1 smallish one !
Great video, good information. Would you please recommend some good networks which take newly qualified advisors working towards their CAS and want to work as self-employed?
Thanks for the videos Sharon. I am partly self employed and part employed and have saved a large deposit. On my self assessment return I often claim as much as possible as expenses to keep tax low so i wanted to know if the underwriter will allow me to use the money when they compare it with my tax return profit? Hope that makes sense. thanks
If you are a sole trader it will be net profit. Non negotiable. If you are Ltd company then they will go by earnings too. If you leave profits in the company some lenders will use these.
@@sharon-startingafreshat50 Thanks Sharon. What i mean is if my tax return is showing that my profit is a fairly small amount yet I have a large amount in the account (due to claiming as expenses that i did not actually have) and plan to use it as my deposit will this be an issue? or am i just overthinking about nothing. A large deposit is a large deposit in the end, right? Thanks
@@heartman3380 it won’t count as anything. Apart from. Deposit. I’m assuming it’s mileage. Any other expenses are true abc are that. Ecosnses. You are gonna have to pay tax
@@sharon-startingafreshat50 Thanks Sharon, No, I do pay tax but because the amount in the account is much more than the profit I recorded in tax return after expenses is higher i just wondered if they would look twice and think, we are not using this deposit.
Hi Sharon, thanks for the great video, what do you think about cold calling clients who already have pre-existing mortgages to source them a better rate, then taking a brokerage fee for that? I have heard of people doing this, I'm really interested to test it out.
I don’t think you can cold call mortgages. You can phone your practices old clients. But not from a list of strangers. Yes of course charge a fee. I would unless it was an easy product transfer.
@@sharon-startingafreshat50 Hi Sharon :) thank you for getting back to me, what makes you think you cannot cold call houses to see what their current mortgage rate is? I know if somebody called me saying they could save me %6 on my total mortgage repayments, I would be happy to pay them a fee for sourcing a changeover that would save me money. How easy is it to switch though? and how would you locate the best prices for somebody? I work in a completely different industry atm, but wanting to try something new, have heard of people creating companies based on this concept.
Hey, really informative video! I'm very interested in becoming a mortgage adviser/broker, however I have also recently considered becoming an estate agent. I will be working in London with either job. My question is that would I earn a lot more as an estate agent in London than a mortgage adviser because of the crazy house prices? Or would a mortgage adviser also earn a lot more in London as well? Reply from yourself would be much appreciated 👍👍
Wow great video, so helpful thank you 👍👍complete career change im looking into completing cemap and then trying to gain some leads (self employed)and do this on top of my current work untill i feel its viable to take the plunge and quit my current job and career. Do you think this could be achievable? Obviously quitting a career and basically starting at the bottom and working as a trainee would be alot riskier and also probably alot less salary to start with so i thought doing it as an extra would be a good way . Providing i can get leads of course. Is there anything else that would hinder me doing this? Thanks so much for the content so helpful 👏👏
No. I doubt if you could do this. I’ve done another video. You would be working through a network and they will want you to do this on a full time basis. I would suggest getting an employed role and then when you have clients or you get a better feel make the leap to self employed. I know it’s not what you wanted to hear. So much to know you really need it full time with some help.
@@sharon-startingafreshat50 thanks so much for responding its appreciated. Ill have to think of a better way to do this then 🙈 i found your part 2 last night and watched that aswell equally as helpful. I hope youve had a good festive break back to the drawing board for me 🙄
Hi Sharon, great video. Can I ask you, would you recommend someone being directly authorised with the FCA or going under a network. I'm in London, cemap qualified and have been selling mortgages for some time with a big lender. Want to go ahead on my own now. What would you do?
Directly authorised will be easier to get into. Intrinsic took about 6 months for all the references. Networks the proc fees are higher. But at least directly authorised you can go to any lender !
Hi! Great video, appreciate the content. I have a couple questions when you have time, I am currently considering a career switch to a self-employed Mortgage Advisor. I will be mentored by a friend, he currently runs his own business with 2000 clients. I would be working alongside him, starting with his training, guidance, and leads. This will be a complete career switch for me (Currently a Personal Trainer). Would you consider this to be a good avenue to start? Even with no experience? Lastly, how much revision/ time is required to pass the CF1 and CF6 exams? Could you pass in months? Years? Providing hours of daily revision. Thanks a lot for your help.
Hiya. I did a 2 week course and sat exams. I would suggest buying a load of mock exam questions and studying for a couple of weeks. I’m sure your mate has to do ongoing cpd for his certificates. It’s a good payer. I’ve stepped away. I started hating it xx
Parts of the job are so fantastic. Ie clients. Using your brain to find a solution the client had no idea about. Teamed with awful online app forms that you need a degree they make them so stressful, endless compliance, some awful clients. You can earn a good living from it, or some people earn very little
Depends how much they are for and why. If it’s s parking ticket you didn’t know anything about it will be ok probably. If it’s a huge credit card you ran up and then didn’t pay they would probably be harsher
Hi Sharon, Thanks for posting! I’m thinking of doing an CEMAP course, once qualified is there much opportunities to work part time for a company? It seems to be fulltime online Thanks in advance
Hey Sharon hope your well. Thought I'd update you from the last time I messaged you. I managed to get an opportunity to work in a award winning mortgage broker. I'll be working there for 3 weeks as a mortgage admin before the principal decides if I'm able to get trained to a mortgage advisor. What I don't like after a week going here is there's no admin so more work for the advisor and there's only one mortgage and one insurance advisor. I managed to get an interview for Just Mortgages so if I do get the role there might take that as this company is more established.
@@allinduetime9506 hey so sadly a few months back the business owner let go of me after he employed another mortgage advisor saying hes doing the work I was doing and so doesn't need me now 🙄. Thing is most of money is coming from his and his wife's properties they have on rent. Several months ago I got an apprenticeship in my local hospital to become a support worker in A&E. I'm thinking to focus on that and finish it then might probably go into accounting and if that backfires hopefully I get a chance to go back to the hospital job
@@zaink7037 ah okay bro I get you, and yeah sounds like a plan wish you well. I wanted to ask, what was the mortgage admin role like in the initial apprenticeship as I have come across an apprenticeship for mortgage admin which later develops to mortgage advisor, so just wanted your thoughts and experience in that role if you have the time, thanks
@@allinduetime9506 I just did work experience there but generally what I did was calling up lenders and solicitors to get an update on the mortgage status and then call the client to let them know the situation. I did do some book keeping creating a spreadsheet showing the customers who paid the broker fee and the proc fee for how much the lender pays the broker after the mortgage is complete. Nice accounting experience I can transfer. I also would call people who made an enquiry through the local surveyors direct as some are looking for a mortgage. Main thing the business manager would always harass me on is my customer service and the way I talk to clients Yeah with the way things are going especially after realising the private sector isn't secure I think it's safe to do the apprenticeship in the hospital then apply for bank shifts when I'm permanent staff so that I can apply for extra shifts for if I do apply for an accounting apprenticeship and if that ends for any unfortunate reason. I did a degree in biomedical science and the laboratory jobs I want to get into sadly don't have any trainee vacancies for me to start in.
@@zaink7037 I appreciate the time u have taken out to write these detailed responses it has helped me a great deal! And yeah keep at it my bro you sound like a bright individual I’m sure things will work out how u want them to in due time, I wish you the best of luck and once again thanks !
Hi Sharon I am a leasehold income officer and I am thinking of leaving the job and train as a mortgage broker. I am over 50 and wander if this is a good idea. Thanks
I want to give up income recovery as it is too stressful and refuse to travel to the office. I am looking for a job giving flexibility and work life balance.
@@annac9766 ah this is not stress free I’m afraid. It’s very very stressful. I’m back at my old company with admin support. Which should help as I can at least switch off when I’m not advising
Great video. If I would work part time (20 hrs ) as a mortgage broker how many hours a day do I need to use computer ? I ask this because I have severe dry eye syndrome and I cannot work on a computer more than 1-2 hours a day . Thank you in advance.
Unfortunately you’ll be glued to your computer. Keying in applications checking criteria checking the property out on rightmove / Zoopla to make sure it fits in with lending criteria etc. Sorry xx
Would you say, working for a bank then moving up to a mortgage advisor role would help to become a mortgage broker is a good route for people thinking of going into this field? Your opinion on this would be greatly appreciated. Thank you in advance.
Yes. Although not much of it. My clients tend to be older. They have stuff in place. If they gave health conditions it takes so much chasing up - it then shoots up in price. I know it’s lucrative. If it goes through straight away then great. Try to find your way through l and g system and you’ll spend ages to find out they are waiting on medical reports that never get chased. Just had one cancel as her husbands cover was ) months ago and still not on risk
Hi Sharon, very informative video. I am only 20 and currently at the beginning of my finance career and I’m working as an accounts assistant studying AAT on 21k. My question is with the CeMAP qualification what is usually the base pay for a mortgage advisor with a few years experience? and is it achievable for me to be hitting 35k+ in the next 5 years? Thanks
Cooking with Sharon plus other shit that sounds great and thank you for your quick reply :) I have been told the base pay is usually 20-25k, is there any chance with experience and qualifications your base rate can be more? And if so roughly how much? Thanks :) xx
Hi. You won’t need a bigger base pay than that. If you are good you will be earning more in commission than your base. Most jobs that are sales based a smaller base with a better commission is better than a higher basic xx
I’ve got a friend who worked a few years for a high street bank as a mortgage advisor- he said his experience was that you’re overworked with rubbish pay. He earned between 25-35k which in my eyes is pretty terrible!
Hi sharon great video and what seems like a real world opinion of the job. I'm looking to do my cemap and become an advisor. I'm currently a Hgv driver earning £38k. I see so many jobs in the Midlands £40k -£80k uncapped commission around. In the real world am I able to earn £40k a year from this job? I'm not deluded in thinking I'm going to earn a 6 figure salary but to make it worth while I would like to see the 35-40k mark. I'm driven and prepared to work evenings and weekends. Just thought I'd ask your opinion. Sounds like the 40-50% cut companies would be a good start. Thanks Sean
Yes definitely achievable. There’s. Lot of investors in the midlands. I’ve had a fantastic year. Am doing a video in more detail and how to top up earnings
I work in sales and you have to be careful with all these misleading adverts that promise £40-80k like you mentioned- what that usually means is that the ones who earn 80k are their top sellers/ who have been in the game for years. So anyone new will be at the bottom end. I was at a car dealership previously that would advertise roles for 60k. The top guys there who have been doing it for a decade are on 55k whereas all the new guys who joined would leave under a year- long hrs, stress, and they would make 24k which is basic and bonus combined. They all learned the hard way. This cycle repeats itself with the next lot of new sales recruits that show up
I’ve started a new position as a protection advisor. I’m going to take my exams in three months and hopefully get promoted to becoming a mortgage advisor. But I find it very hard to find leads. Is there any tips on how I can find leads as cold calls isn’t working for me at all. If anyone who is reading this want protection or already have one and would like to save some money feel free to message me.
No I’m afraid not. I didn’t know you could even cold call. When you do mortgages you might get a few if you are doing first time buyers or young families. If anyone on here wants any protection hopefully they’ll come to me !
I don’t do mortgages yet I’m only a protection advisor until I pass my exams. And my company gives me leads to call up and try persuade them to join a company that we work with. And sorry I didn’t mean to steal your customers. I thought you work only as a mortgage advisor. As I am self employed and new to this role this is the only way I can find customers but it isn’t efficient. Can you suggest other methods which you have used to find customers.
Unfortunately I’m shit at selling protection. Others brag how easy it is. Even with young families and disposable income they don’t seem to be worried they might make their surviving spouse abd kids homeless. Bury your head in the sand. Buy a Costa coffee and a cake and put it on Instagram. If they die people think they can just put a just giving page up. Don’t worry most people reading this or watching the videos are here because of work but because they want a mortgage or protection policy
Protection leads are expensive. About £80. I wouldn’t buy them. I prefer mortgage customers. You get them back every 2 or 5 years or maybe more often. Plus leads etc. I’ve also made some of my best friends through meeting them through work xx
Hey, really informative video! For a mortgage adviser/broker, would being in London drastically increase the salary? How possible would it be to make 6 figures as a mortgage adviser /broker? Keep up the good work 👍
Feasible. If you have the leads. You could get 1 good client and earn that. I don’t work that hard. I’m taking a back seat and just really doing renewals. But a good lead source and yes definitely
That's a great video for anyone to understand about Mortgage Advisor I am Chartered Accountant on India practising Mortgage Advisor here. How can I outsource my services to UK.
Definitely. It’s stressful. Had I been doing the job years I would have so much repeat business. It’s easy money for established brokers. I am still paying for leads. I’ve changed jobs too many times so lost client bank.
Cooking with Sharon plus other shit is it best for me to just buy the cemap and do it myself then, and will it be hard to find work in a brokerage firm of some sort which will give me leads
I think you’ll be fine. That’s exactly what I did. If you’ve passed abc paid for your pen exams that says a lot about how keen you are. Go somewhere that provides leads and an office to get your experience
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Really helpful video Sharon. You should do more of these x
A really refreshing, honest and useful account of the profession by a human being!
Thank you
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Sharon you look great! I used to be a mortgage adviser years ago for a bank. It was stressful then and those were the easy days! I know Hatfield well - I live in Hertford and work in Welwyn Garden City. You really look like you love lost weight - well done!
Wow Hertford is beautiful. I’m in the old town by the train station xxxx yes it’s stressful. You only had 1 set of criteria. It was yes or no ! It’s a nightmare 10 lenders 9 bits of criteria fit but there’s always one that doesn’t ! Buy to let’s now. Different stress tests according to your tax bracket and hoe long you fix. They change them every day it’s hard to keep up xxxxx
Real talk. Love it. 👊
loved this! I can vouch for how amazing you are, totally supportive and going the extra mile for your clients. I also know how much hard work and emotion you invest in your cases so thank you
ps - you look lovely, your hair is fierce xx
Great video Sharon. Really informative and honest, which is probably the most important aspect! I was thinking about doing cemap and dipfa. Not surprised about your "bullshit" comment, that whole industry is full of it! I think I might be rethinking my decision.
Thanks for your video Sharon, I’m a mortgage adviser and I’ve just been offered a job as a broker today, so this is very interesting. Thanks again!
I would only take a broker job with full admin support. You spend all day repeating stuff to underwriters that they don’t understand ! Check the systems. Some are a nightmare. Intrinsic compliance will drive you crazy.
Thank you. I found this quite helpful, honest and informative. I have had a few similar experiences also. Thanks
i probably hate the job much more these days, the network i am currently with is probaby the biggest mistake of my career
You do look well. What an interesting video. Not a job I knew anything about!
Hi Sharon, you look very pretty tonight, not that you do not usually. Very interesting video. Hope you and yours have a good week.
Thanks Sharon very useful info
Thank you Sharon. Very informative. I wish more people would do this,
Yes good and bad with the job !
I've just left a company when you were not allowed a bought cup of coffee. Even got a 100 page booklet on compliance to be signed for.
I'm not in the mortgage trade.
Interesting video though
Wow you are looking at all sorts of videos. Alas compliance is awful. Suitability letters 10 pages long. Who reads them ... nobody
@@sharon-startingafreshat50 I take an interest in lots of things. I like your honest presentation
It is not enjoyable in the slightest. It is dull and stressful, the worst combination.
I'd also suggest the pay is nowhere near it needs to be for that level of commitment, qualification and commitment.
I agreed. Unless you get big cases. Eden the easy lenders are a nightmare. So stressful
What are you doing now. I think the job is getting worse by the week
your honesty is appreciated
Hi Wendy...how are you doing today?
Your honesty!
Great video Sharon...keep smashing it :)
Hi Sharon, that's interesting video, I recently done my qualification and I have to agree it was hard ( I've never gone for a course, just done it myself ). I am lucky enough to have part time job until I will able to make enough profit from mortgages, someone advised me recently that for a start I should focus on insurance side as it might get me some customers for mortgage and I think that's a good idea, can't wait for a new year. Btw, I believe we met virtually on a course recently, it's a very small world :) Kris.
Virtual course. ? With sesame ? X
@@sharon-startingafreshat50 Hi again, yes. How would you describe your first days/weeks with Sesame ? If You want You can answer to me directly @ kris.c@routefinancial.co.uk
Well they pick every case to bits. I’m not liking the system either. But I truly hate this side of the job. Overkill.
@@sharon-startingafreshat50 cor can be annoying, I have noticed that they checking over and over if you haven't done the same error, but they are not consistent as well, they pick certain thing on my case but they never do it on my principal cases. I can't compare system with other networks, why don't you like it? If You need any help with insurance side I am happy to help. I haven't done any mortgage so far. Do You buy the leads at the minute?
I don’t understand what you mean about principal cases. No leads currently. Got a chunky product transfer and some other mortgages to do
This was a good and informative video thank you. To be honest it seems like a tough job to start on your own as self-employed. would you recommend working for a good company as a mortgage advisor as an experienced individual?
I'm 3 years late to your comment but hopefully it helps out other people. Extremely difficult to start out of your own, trying to find a client base for yourself is a nightmare at first, and you really have to different yourself from any of broker in whatever way. Definately recommend starting off with a company, and over time you may earn clients through your own doings. Leaving a company and trying to contact clients can lead to bread of contract, but you may earn some of your own clients over time which is hard to do just by yourself.
This is a ton of great info! I’ve been a mortgage broker in Canada for the past 2 years and loving it. Can someone move from Canada to the UK and become a mortgage broker straight away?
I woujd think you have to do your cemap exams here I’m afraid. But the job is about people so sure you would land a job here
Hi Sharon, very interesting video. Apologies if this has already been covered but how would a newly qualified mortgage advisor wishing to work freelance access lenders? Thanks Paul
You need to work through a mortgage club or a network. It’s not feasible for the lenders to pay thousands of individuals. You get mortgage sourcing software to see which is the cheapest lender
@@sharon-startingafreshat50 Thank you Sharon for the response. Much appreciated
Sharon, why do you have to buy the leads, can you not just print 20,000 leaflets and bang them out or do facebook ads or something. 40 quid a lead seems mega high. Thanks
Yes you can do all of that. I haven’t got time to learn / set up ads etc. Leaflets ... good luck with those. I have no idea. I did advertise on a local paper. Got nothing decent. You might get better results. Great to know how it goes
@@sharon-startingafreshat50 thank you. Just subbed
Ps. I pay 80 a lead !
@@sharon-startingafreshat50 Who is the mob that sells the leads
Try generating your own leads. It’s not cheap or easy. Time is money. Just have to suck it up I’m afraid knowing that 50% will be time wasters / losers
Thank you sharon.
I want to become a morgage adviser and just wanted to ask with your experience do you think morgage advisers are in demand and is there a future in morgage advisers.
Massively in demand. Never be out of work if you are good xx
Hi, great video thanks, would love to see your follow up videos but says unavailable is there a way I could watch them?
I am looking to leave a fairly good career to the world of mortgages but just trying to best research. Any points hugely appreciated . Thanks
Hiya. I’ve uploaded the next video
This was a very good video well done
Helpful thanks
Hello nice video and informative. Is the CeMap exam similar to the mock questions esp for the regulations?
Maxwell E Wilson yes the questions are similar or the same.
Found the CeMap 1 exam very different to the learning content
@@MrGmanVids Same!
Hi
I’m currently studying for CeMap, I find it difficult, I gave the exam and I fail, the questions are so confusing, and no way near the questions to Libf.
Did you said in this video that you have to pay £260 to have access to lenders?
Thanks for providing some really information. I would like to change my profession to become a Mortgage advisor. Would you advise me where I can start ? What courses I should do? Thanks.
HI Shah, the benchmark qualification is the CeMAP course. There are a lot of online courses and sometimes heavily discounted on Groupon, so it's worth checking their page sometimes. Good luck.
@@rukeia3560 Hi Rukia, do you know if the company on groupon are any good as they are not authorised by LIBF? Thanks in
@@oliviagreenfield7475 Hi Olivia, as far as I have seen, the courses were from official institutions and there were several different ones, so have a look and if in doubt, try and contact the institutions for some clarity. Good luck!
A very interesting vid. U work hard bless u. I worked for a mortgage broker years ago as a secretary. Antony Gover I would imagine u do yr job very well as well as being professional u r very kind. Xxxxxx
Sue I’ve booked gary numan 25 October in London. Have you booked xxx
Cooking with Sharon plus other shit oh my fantastic. Yes I will b there. Xxxxx
We’ve booked. Let me know when you have. Standing tickets. Will see you there !
Cooking with Sharon plus other shit definitely think we are seated (hav booked a few dates). Will arrange to meet u before. Xxxxxxx.
Yes just checked we are seated at this date. Will definitely meet u before will b fab. My husband called Garry too lol. Xxxxxx.
Hi there Sharon, great video. I remember watching your video before i started working as an advisor a year ago, are you still in the industry? I can’t lie I became quickly disillusioned after starting the role, not enjoyable whatsoever to me and thinking about going into something else tbh. I feel like it’s incredibly hard to get the earnings in this role and the case checking and having to double back on your cases is a nightmare, not to mention the stress of when an application goes wrong though i’ve been told this happens often and it’s something to get used to. I feel like a lot of what you said resonates with me. I’m going to stick it out for now and then try and get into something relevant using the experience I have, do you have any suggestions on something an ex broker could easily move into that would be more rewarding financially? If you’re not still in the industry would be interested to hear what you’ve moved into? Thanks!
Nope. No longer broking. Company I worked at folded. I started a new role. Hated it. Recorded calls. Picking holes in everything. You started at the wrong time. Interest rates have gone sky high. I imagine people won’t be so willing to pay a broker fee if their mortgage has shot up. I’m living frugally on Btl and air bnb income. Not sure what I want to do. But I grew to hate the job x
Thank you Sharon. Might I ask how to get all the competitive mortgage rate if one decide to self employed as a mortgage broker?
You get the same rates as everyone else. Will need at least 1 years figures - 2 with most lenders
@Mohammed Shajaat very
Well done on being so honest about it. Do you charge for product transfers?
No charge for product transfers x
Hey, Sharon would a CEMAP also qualify you to advise on commercial mortgages or just residential? Or are commercial mortgage brokers totally different?
They are unregulated mortgages. Cemap
Isn’t required x
hi miss at the start of the video you said you got 10-15% of sales so 85-90% goes to the agency I presume ? But after that you said that your cut was atleast 50% which got me confused would you mind explain please
O the network (such as open work etc) grabs small cut. They then send the rest into my company for it to be split. Currently 80% I get
Am doing another video on this
Hi Sharon, very informative video so thank you.
Can I ask if you'd need perfect credit to be a self employed mortgage broker, or only if employed by a firm?
Both. They do allow a bit of leeway. But if your credit profile is a mess - ccj defaults etc it’s going to be difficult. You could ask a potential employer before looking at jobs. I would say a broker who is directly authorised (not a network as the network will have more red tape and no flexibility). Let me know how it goes !
Really helpful video, thank you. You touched early on on credit history. My credit has always been perfect with only 1 blemish ever which was a CCJ for a £200 parking fine 4 years ago (I actually found out about it when applying for my current job and thought they'd made a mistake at first. I paid it off once I'd tracked it down so it was settled but not fully removed). Would this scupper me or is it a matter of degrees?
That should be fine. As long as general money situation is fine.
Thank you - sounds stressful 😊
It was!
Am I too old at 48 to become a Mortgage advisor, looking to work for a company eventually once qualified. I know more about mortgages than "Joe Bloggs" as I have a handful of BTL properties.
I know it’s hard to believe but I’m 51. Trained mid 40s. Ideal background as you can advise on btl too ! Your experiences
I currently run my own building company and have always been good with money but need a change and being a MA seems like a good fit!
Really pleased to hear this! I’m 45 and have just taken the step. I’m currently in the Arts industry, which is so unpredictable at the moment, so I really fancied a change and the chance to learn something new.
I think it’s a big advantage. Especially if you’ve got your own mortgage. I chat about how difficult it was as a first time buyer but now my mortgage is peanuts compared to rent. The same on buy to let side. Someone this week was going to sell their residential and their but to let on 5% mortgage. I’ve given him options. He’s now going the route of releasing money from his buy to let, a let you buy on his residential and releasing equity and buying his new one .... 3 mortgages instead of 1 smallish one !
Great video, good information. Would you please recommend some good networks which take newly qualified advisors working towards their CAS and want to work as self-employed?
Keep watching. Going to do a video Bout this in the next week.
Thanks for the videos Sharon. I am partly self employed and part employed and have saved a large deposit. On my self assessment return I often claim as much as possible as expenses to keep tax low so i wanted to know if the underwriter will allow me to use the money when they compare it with my tax return profit? Hope that makes sense. thanks
If you are a sole trader it will be net profit. Non negotiable. If you are Ltd company then they will go by earnings too. If you leave profits in the company some lenders will use these.
@@sharon-startingafreshat50 Thanks Sharon. What i mean is if my tax return is showing that my profit is a fairly small amount yet I have a large amount in the account (due to claiming as expenses that i did not actually have) and plan to use it as my deposit will this be an issue? or am i just overthinking about nothing. A large deposit is a large deposit in the end, right? Thanks
@@heartman3380 it won’t count as anything. Apart from. Deposit. I’m assuming it’s mileage. Any other expenses are true abc are that. Ecosnses. You are gonna have to pay tax
@@sharon-startingafreshat50 Thanks Sharon, No, I do pay tax but because the amount in the account is much more than the profit I recorded in tax return after expenses is higher i just wondered if they would look twice and think, we are not using this deposit.
Hi, is there any way to just do the consultations and have the network deal with all the admin? Thanks
Hi Sharon, thanks for the great video, what do you think about cold calling clients who already have pre-existing mortgages to source them a better rate, then taking a brokerage fee for that? I have heard of people doing this, I'm really interested to test it out.
I don’t think you can cold call mortgages. You can phone your practices old clients. But not from a list of strangers. Yes of course charge a fee. I would unless it was an easy product transfer.
@@sharon-startingafreshat50 Hi Sharon :) thank you for getting back to me, what makes you think you cannot cold call houses to see what their current mortgage rate is? I know if somebody called me saying they could save me %6 on my total mortgage repayments, I would be happy to pay them a fee for sourcing a changeover that would save me money. How easy is it to switch though? and how would you locate the best prices for somebody? I work in a completely different industry atm, but wanting to try something new, have heard of people creating companies based on this concept.
the fca banned it. you ave ti sbscribe to sourcing software x
@@sharon-startingafreshat50 Do you mind if I email you directly Sharon would love to get more insight x
Dane poore that’s fine
Hey, really informative video! I'm very interested in becoming a mortgage adviser/broker, however I have also recently considered becoming an estate agent. I will be working in London with either job. My question is that would I earn a lot more as an estate agent in London than a mortgage adviser because of the crazy house prices? Or would a mortgage adviser also earn a lot more in London as well? Reply from yourself would be much appreciated 👍👍
I can’t comment as I have no idea what an eatate agent earns. But yes. Both a percentage commission so higher prices are good earnings
Wow great video, so helpful thank you 👍👍complete career change im looking into completing cemap and then trying to gain some leads (self employed)and do this on top of my current work untill i feel its viable to take the plunge and quit my current job and career. Do you think this could be achievable? Obviously quitting a career and basically starting at the bottom and working as a trainee would be alot riskier and also probably alot less salary to start with so i thought doing it as an extra would be a good way . Providing i can get leads of course. Is there anything else that would hinder me doing this? Thanks so much for the content so helpful 👏👏
No. I doubt if you could do this. I’ve done another video. You would be working through a network and they will want you to do this on a full time basis.
I would suggest getting an employed role and then when you have clients or you get a better feel make the leap to self employed. I know it’s not what you wanted to hear. So much to know you really need it full time with some help.
@@sharon-startingafreshat50 thanks so much for responding its appreciated. Ill have to think of a better way to do this then 🙈 i found your part 2 last night and watched that aswell equally as helpful. I hope youve had a good festive break back to the drawing board for me 🙄
Hi Sharon, great video. Can I ask you, would you recommend someone being directly authorised with the FCA or going under a network. I'm in London, cemap qualified and have been selling mortgages for some time with a big lender. Want to go ahead on my own now. What would you do?
Directly authorised will be easier to get into. Intrinsic took about 6 months for all the references. Networks the proc fees are higher. But at least directly authorised you can go to any lender !
Hi! Great video, appreciate the content.
I have a couple questions when you have time, I am currently considering a career switch to a self-employed Mortgage Advisor. I will be mentored by a friend, he currently runs his own business with 2000 clients. I would be working alongside him, starting with his training, guidance, and leads. This will be a complete career switch for me (Currently a Personal Trainer). Would you consider this to be a good avenue to start? Even with no experience?
Lastly, how much revision/ time is required to pass the CF1 and CF6 exams? Could you pass in months? Years? Providing hours of daily revision. Thanks a lot for your help.
Hiya. I did a 2 week course and sat exams. I would suggest buying a load of mock exam questions and studying for a couple of weeks. I’m sure your mate has to do ongoing cpd for his certificates. It’s a good payer. I’ve stepped away. I started hating it xx
What advice would you give to someone who wants to study CEMAP and become a mortgage advisor
Parts of the job are so fantastic. Ie clients. Using your brain to find a solution the client had no idea about. Teamed with awful online app forms that you need a degree they make them so stressful, endless compliance, some awful clients. You can earn a good living from it, or some people earn very little
Hi, im looking for properties. Could i possibly speak to you in regards to that please. Thanks
About mortgages or about what properties to invest in. Can you email me sharonkind02@gmail.com many thanks
Sharon, Ive just recieved my Cemap revision book for the 1st module. Any tips and hows the market right now?
I’ve just received my reversion books today any advice on the revision
Hi Sharon,
Does having adverse credit history (e.g. defaults) completely exclude you from a career as a mortgage advisor?
Thanks in advance.
Depends how bad they are. If they are new then I would say yes I’m afraid
Text him on what_sapp⬇️
+1 8 7 2 9 9 9 7 1 8 8
@@sharon-startingafreshat50 they are from January 2019. I don’t know how new they would be classed as?
Depends how much they are for and why. If it’s s parking ticket you didn’t know anything about it will be ok probably. If it’s a huge credit card you ran up and then didn’t pay they would probably be harsher
Great camera angle x lo9king abfab
Hi Sharon,
Thanks for posting!
I’m thinking of doing an CEMAP course, once qualified is there much opportunities to work part time for a company? It seems to be fulltime online
Thanks in advance
Possibly self employed. However it’s pretty full on learning all the criteria etc xx
@@sharon-startingafreshat50 thanks for answering x
Hey Sharon hope your well. Thought I'd update you from the last time I messaged you. I managed to get an opportunity to work in a award winning mortgage broker. I'll be working there for 3 weeks as a mortgage admin before the principal decides if I'm able to get trained to a mortgage advisor.
What I don't like after a week going here is there's no admin so more work for the advisor and there's only one mortgage and one insurance advisor.
I managed to get an interview for Just Mortgages so if I do get the role there might take that as this company is more established.
Bro I seen u under couple vids now how’s it going ?
@@allinduetime9506 hey so sadly a few months back the business owner let go of me after he employed another mortgage advisor saying hes doing the work I was doing and so doesn't need me now 🙄. Thing is most of money is coming from his and his wife's properties they have on rent. Several months ago I got an apprenticeship in my local hospital to become a support worker in A&E. I'm thinking to focus on that and finish it then might probably go into accounting and if that backfires hopefully I get a chance to go back to the hospital job
@@zaink7037 ah okay bro I get you, and yeah sounds like a plan wish you well. I wanted to ask, what was the mortgage admin role like in the initial apprenticeship as I have come across an apprenticeship for mortgage admin which later develops to mortgage advisor, so just wanted your thoughts and experience in that role if you have the time, thanks
@@allinduetime9506 I just did work experience there but generally what I did was calling up lenders and solicitors to get an update on the mortgage status and then call the client to let them know the situation. I did do some book keeping creating a spreadsheet showing the customers who paid the broker fee and the proc fee for how much the lender pays the broker after the mortgage is complete. Nice accounting experience I can transfer. I also would call people who made an enquiry through the local surveyors direct as some are looking for a mortgage.
Main thing the business manager would always harass me on is my customer service and the way I talk to clients
Yeah with the way things are going especially after realising the private sector isn't secure I think it's safe to do the apprenticeship in the hospital then apply for bank shifts when I'm permanent staff so that I can apply for extra shifts for if I do apply for an accounting apprenticeship and if that ends for any unfortunate reason. I did a degree in biomedical science and the laboratory jobs I want to get into sadly don't have any trainee vacancies for me to start in.
@@zaink7037 I appreciate the time u have taken out to write these detailed responses it has helped me a great deal! And yeah keep at it my bro you sound like a bright individual I’m sure things will work out how u want them to in due time, I wish you the best of luck and once again thanks !
Hi Sharon
I am a leasehold income officer and I am thinking of leaving the job and train as a mortgage broker. I am over 50 and wander if this is a good idea. Thanks
Go for it. Xx
I want to give up income recovery as it is too stressful and refuse to travel to the office. I am looking for a job giving flexibility and work life balance.
@@annac9766 ah this is not stress free I’m afraid. It’s very very stressful. I’m back at my old company with admin support. Which should help as I can at least switch off when I’m not advising
What sort of credit score would an employer be looking for in a mortgage advisor?
not score , just looking to see if you have defaults/ccjs etc , or a lot of debt, so you might be tempted to put in a dodgy mortgage
Great video. If I would work part time (20 hrs ) as a mortgage broker how many hours a day do I need to use computer ? I ask this because I have severe dry eye syndrome and I cannot work on a computer more than 1-2 hours a day . Thank you in advance.
Unfortunately you’ll be glued to your computer. Keying in applications checking criteria checking the property out on rightmove / Zoopla to make sure it fits in with lending criteria etc. Sorry xx
Would you say, working for a bank then moving up to a mortgage advisor role would help to become a mortgage broker is a good route for people thinking of going into this field? Your opinion on this would be greatly appreciated. Thank you in advance.
Do you sell protection as well?
Yes. Although not much of it. My clients tend to be older. They have stuff in place. If they gave health conditions it takes so much chasing up - it then shoots up in price. I know it’s lucrative. If it goes through straight away then great. Try to find your way through l and g system and you’ll spend ages to find out they are waiting on medical reports that never get chased. Just had one cancel as her husbands cover was ) months ago and still not on risk
I'm a self employed broker and it can be real stressful.
It’s an understatement. Continuous battle. Getting info from clients. Compliance. Battling under valuations, underwriters and solicitors.
@@sharon-startingafreshat50 na it's not that bad lol
Are you directiy authorised Or through a network. Do you do your own admin and chasing ? That is where I get stressed
@@sharon-startingafreshat50 DA yer do it all myself. Was hoping to take on an admin this year though.
@@jkwan89
How many applications would one need per week to justify paying for an admin assistant please? Thanks Justin
How much is the average mortgage broker making? is it really £30k?
A good one with a client way way more
Than that - new one. Paying for leads. Small
Mortgages probably way less
Hi Sharon, very informative video. I am only 20 and currently at the beginning of my finance career and I’m working as an accounts assistant studying AAT on 21k. My question is with the CeMAP qualification what is usually the base pay for a mortgage advisor with a few years experience? and is it achievable for me to be hitting 35k+ in the next 5 years? Thanks
Yes that will be easy to achieve xx
Cooking with Sharon plus other shit that sounds great and thank you for your quick reply :) I have been told the base pay is usually 20-25k, is there any chance with experience and qualifications your base rate can be more? And if so roughly how much? Thanks :) xx
Hi. You won’t need a bigger base pay than that. If you are good you will be earning more in commission than your base. Most jobs that are sales based a smaller base with a better commission is better than a higher basic xx
I’ve got a friend who worked a few years for a high street bank as a mortgage advisor- he said his experience was that you’re overworked with rubbish pay. He earned between 25-35k which in my eyes is pretty terrible!
You aren’t really a mortgage advisor working at the bank. You say yes or no. I have to search the market for lenders who will say yes
Hi sharon great video and what seems like a real world opinion of the job. I'm looking to do my cemap and become an advisor. I'm currently a Hgv driver earning £38k. I see so many jobs in the Midlands £40k -£80k uncapped commission around. In the real world am I able to earn £40k a year from this job? I'm not deluded in thinking I'm going to earn a 6 figure salary but to make it worth while I would like to see the 35-40k mark. I'm driven and prepared to work evenings and weekends. Just thought I'd ask your opinion. Sounds like the 40-50% cut companies would be a good start.
Thanks
Sean
Yes definitely achievable. There’s. Lot of investors in the midlands. I’ve had a fantastic year. Am doing a video in more detail and how to top up earnings
@@sharon-startingafreshat50 thank you for your response. That's sounds great I will keep a look out
I work in sales and you have to be careful with all these misleading adverts that promise £40-80k like you mentioned- what that usually means is that the ones who earn 80k are their top sellers/ who have been in the game for years.
So anyone new will be at the bottom end. I was at a car dealership previously that would advertise roles for 60k. The top guys there who have been doing it for a decade are on 55k whereas all the new guys who joined would leave under a year- long hrs, stress, and they would make 24k which is basic and bonus combined. They all learned the hard way. This cycle repeats itself with the next lot of new sales recruits that show up
It depends massively where you are. If you are doing 500k Mortgafes charging £999 or 75k Mortgafes Charing £199 - it’s very difficult to judge
Hi
Is there a way to contact you I’m looking to get mortgage
Sharon@aurumcapital.co.uk
Thank you
Sharon are you in the UK?
Yes
I’ve started a new position as a protection advisor. I’m going to take my exams in three months and hopefully get promoted to becoming a mortgage advisor. But I find it very hard to find leads. Is there any tips on how I can find leads as cold calls isn’t working for me at all. If anyone who is reading this want protection or already have one and would like to save some money feel free to message me.
No I’m afraid not. I didn’t know you could even cold call. When you do mortgages you might get a few if you are doing first time buyers or young families. If anyone on here wants any protection hopefully they’ll come to me !
I don’t do mortgages yet I’m only a protection advisor until I pass my exams. And my company gives me leads to call up and try persuade them to join a company that we work with. And sorry I didn’t mean to steal your customers. I thought you work only as a mortgage advisor. As I am self employed and new to this role this is the only way I can find customers but it isn’t efficient. Can you suggest other methods which you have used to find customers.
Can I email you about all of this so we can have a more private chat?
Unfortunately I’m shit at selling protection. Others brag how easy it is. Even with young families and disposable income they don’t seem to be worried they might make their surviving spouse abd kids homeless. Bury your head in the sand. Buy a Costa coffee and a cake and put it on Instagram. If they die people think they can just put a just giving page up. Don’t worry most people reading this or watching the videos are here because of work but because they want a mortgage or protection policy
Protection leads are expensive. About £80. I wouldn’t buy them. I prefer mortgage customers. You get them back every 2 or 5 years or maybe more often. Plus leads etc. I’ve also made some of my best friends through meeting them through work xx
What is the software you pay £15 P/M for? cheers
I think 240 a year. Not sure. It’s fantastic value anyway
@@sharon-startingafreshat50 Sorry, I'm asking what the software is called
Yourknowledgebank I prefer it to criteria hub
I have a follow up video that shows the software
Hey, really informative video! For a mortgage adviser/broker, would being in London drastically increase the salary? How possible would it be to make 6 figures as a mortgage adviser /broker? Keep up the good work 👍
Feasible. If you have the leads. You could get 1 good client and earn that. I don’t work that hard. I’m taking a back seat and just really doing renewals. But a good lead source and yes definitely
Are you still a mortgage advisor ?
Nope !
I still do unregulated stuff and pass leads over for the regulated. But I don’t do any of the other stuff
Why did you quit? Is the industry worse these days?
That's a great video for anyone to understand about Mortgage Advisor
I am Chartered Accountant on India practising Mortgage Advisor here. How can I outsource my services to UK.
Accountancy services or mortgage services. What are you looking to do ? Place U.K. mortgages from India. Or accountancy services ? Many thanks
Well I am Looking for accounting assignments. We have a team of 20 professionals here in India and working since past 10 years.
i'm 18 and thinking about taking cemap and becoming mortgage broker is it worth it ??
Definitely. It’s stressful. Had I been doing the job years I would have so much repeat business. It’s easy money for established brokers. I am still paying for leads. I’ve changed jobs too many times so lost client bank.
Cooking with Sharon plus other shit is it best for me to just buy the cemap and do it myself then, and will it be hard to find work in a brokerage firm of some sort which will give me leads
I think you’ll be fine. That’s exactly what I did. If you’ve passed abc paid for your pen exams that says a lot about how keen you are. Go somewhere that provides leads and an office to get your experience
Hi Sharon
How can I contact you I really need a mentorship
Hi I’ve quit mortgages. But email me and I’ll help x
@@sharon-startingafreshat50 still I would need your advice can you please send me your email
Thank you
@@edenthatwasamazingfikitor9415 sharonkind02@hotmail.com
@@sharon-startingafreshat50 Thank you