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Planning on becoming a mortgage advisor?

A mortgage advisor is someone whose is qualified to help others to find, apply for, and obtain a suitable mortgage that is best suited to meet their personal circumstances. A good mortgage advisor should have the ability to listen and communicate properly so that he or she will be able to build a rapport with a client.

The ability to listen and communicate properly is of utter importance because a mortgage advisor will need to understand what a client is looking for. If that client is unable to make his or her requirements clear, a mortgage advisor will need to know what questions to ask so that he can understand exactly what the client needs. Only then will he be able to provide appropriate advice and to find the best mortgage source.

Some of the responsibilities of mortgage advisors include: giving the client advice on home purchases, determining the financial position of his client, find a number of mortgages that fits with the budget of the client from which the client can make a choice, and inform and explain repayment possibilities and mortgage protection to the client. The client needs to be properly informed on all aspects of a mortgage. Based on the recommendations of the advisor, the client will make a decision.

As a mortgage advisor, you may find a job in a bank, with mortgage or insurance brokers, in building societies, or with real estate agents. Your earning level will be highly dependent on commission which will depend on the financial institution that you are working for as well as your performance as a mortgage advisor.

On the other hand, you can choose to become an independent mortgage advisor. This means that you will not be bounded to one fixed financial institution which means that you will be able to work flexible hours and you will be able to represent many different products instead of having to represent one specific line of products from one specific institution. Your profits will also not depend on a specific financial institution. You will be free to grow your client bank which will result in a proportional growth of your profits.