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Back-to-Basics: Working as a Mortgage Broker Part-time

By 21st December 2023January 17th, 2024Mortgages, Business Growth, Blog
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The life of a mortgage broker can be a demanding one, but it is often just as or even more rewarding. At PRIMIS we like to think of mortgage brokers as the gatekeepers to aspiring homeowners’ dreams, playing an essential role in making it happen and being a support to customers along the way. If you are a broker in training, or are in fact a newly qualified adviser having recently passed your CeMAP qualification, and are attracted to this sort of role but aren’t sure about how to balance working hours with your home life then perhaps working as a part-time adviser could be your solution.

To give you a better idea of this unique way of working, we have put together this article which will give you a flavour what it might be like getting set up as a part-time mortgage broker. As part of our ‘back-to-basics’ campaign, we’re exploring key questions many newly qualified advisers might have, so that you can hit the ground running working the way that suits you and part-time advising might be exactly that.

Why would you want to be a part-time mortgage broker?

There are a number of reasons why a person new to working in financial services, either as a mortgage broker or protection adviser, might want to go part-time. Balancing work, general lifestyle and travel can be a difficult task for anyone, but especially for someone embarking on a new career.

Can you work as a self-employed mortgage broker part-time?

In general, mortgage brokers have two choices when it comes to how they want to work. They can either join a broker firm or they can choose to operate as a sole-trader. Opting for the sole-trader route will see you work as a self-employed representative, which may require more full-time working patterns to build relationships with customers and to support them with their queries.

However, being part of an established firm, with a team of brokers, can sometimes present opportunities for part-time working.

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What qualifications do part-time mortgage brokers need?

If you are an aspiring adviser looking to achieve all the qualifications needed to begin arranging mortgages on behalf of prospective homeowners, you will be required to complete the same Certificate in Mortgage Advice and Practice (CeMAP), as your industry colleagues who are looking to work full time. We have in fact already touched upon how to become a mortgage broker in a previous article, and outlined in detail how necessary it is for a prospective broker to obtain a Level 3 Mortgage Advice Qualification in order to meet the FCA’s qualification requirement, which you can do so in the following manners:

  • Certificate in Mortgage Advice and Practice (CeMAP) obtained from the London Institute of Banking and Finance
  • Certificate in Mortgage Advice obtained from the Chartered Institute of Insurance

What jobs are available for part-time mortgage brokers?

There can be plenty of opportunities available for mortgage brokers who wish to work part-time, either on a temporary or permanent basis. If you’re an aspiring adviser looking to take your first steps in financial services, then reach out to hello@primis.co.uk to express your interest.

You can also kick start your journey in the industry with support from our team at Linear Financial Solutions, who offer in-depth and exclusive CeMap courses designed to equip you with the knowledge need.

‘’Linear Financial Solutions help with taking the first step to becoming a mortgage adviser, whether it be part or full time. By offering exclusive CeMap academy courses, hosted by The London Institute of Banking and Finance, individuals are able to train and gain their CeMap qualification with ease. With the courses being hosted via a virtual classroom, it has never been easier to become CeMap qualified, without impacting any other commitments. The academy is hosted once every quarter and split into two courses for each qualification – CeMap 1 and then CeMap 2 and 3 combined.’’

Daisy Richards – Interim Operations Manager at Linear Financial Solutions

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