Legal, finance and accounting

Mortgage advisor

View occupational standardView occupational progressionExplore courses linked to this occupation

Giving clients advice on appropriate mortgages and related protection products, such as life insurance or sickness and unemployment insurance.

Summary

This occupation is in the financial services sector, specifically within organisations that provide mortgage advice to individuals seeking to purchase property or remortgage existing properties. These organisations range from large national estate agency chains with in-house mortgage services and major high street banks and building societies, to smaller independent mortgage brokerages operating locally or nationally. Employers can vary significantly in size and scope, from sole practitioners to large corporations employing hundreds of mortgage advisers. The work involves assisting customers in navigating the complex process of securing a mortgage, understanding various mortgage products, and ensuring compliance with relevant regulations. 

The broad purpose of the occupation is to provide expert, regulated advice and guidance to customers on mortgage products best suited to their individual needs and circumstances, ultimately enabling them to achieve their property ownership goals or secure appropriate remortgaging solutions. To achieve this, a Mortgage Adviser gathers detailed information about a customer’s financial situation, assesses their affordability and borrowing capacity, researches and considers the most appropriate recommendation from the range of mortgage products available to them, explains complex product features and terms clearly, and then guides customers through the application process. Mortgage advisers will also provide recommendations to customers in line with product suitability and their affordability criteria.  They typically engage with customers through face-to-face meetings, telephone conversations, and increasingly through digital communication channels. Mortgage advisers may also be required to provide help and support for customers in a call centre environment holding telephone mortgage meetings with a diverse range of customers. They will be required to build knowledge to be able to effectively handle a wide range of mortgage related enquiries and ensure all advice is accurately documented. Mortgage Advisers may work exclusively with their own organisation’s mortgage products whilst some may work with mortgage products across the wider mortgage market.

In their daily work, an adviser in this occupation interacts with a diverse range of individuals and organisations. They regularly communicate with prospective and existing clients, building rapport and trust to understand their needs. They also interact extensively with mortgage lenders, business development managers to gather product information, submit applications and resolve queries. Internally, they may interact with administrative staff for processing support, compliance officers to ensure adherence to regulations, and potentially senior mortgage advisers or team leaders for guidance and support. The level of interaction with different functions can vary depending on the size and structure of the employing organisation.

An adviser in this occupation will typically be responsible for managing their own caseload of clients, from initial enquiry through to mortgage offer and completion, typically working with a degree of autonomy within established procedures and regulatory frameworks. However, in some organisations they will be dealing with ad-hoc queries on mortgages and additional products available to the customer. They will usually report to a senior mortgage adviser, team leader, or compliance manager. The level of direct supervision may vary depending on the size of the organisation and the individual's experience; however, many Mortgage Advisers will be self-employed, work independently and will be responsible for their own caseloads. This is a regulated occupation and mortgage advisers must be authorised by the Financial Conduct Authority (FCA) to provide advice. They are responsible for ensuring the accuracy and completeness of client information and mortgage applications, adhering strictly to FCA regulations and ethical guidelines. Key requirements include maintaining up-to-date knowledge of mortgage products and the wider housing market, acting with integrity and professionalism at all times, and prioritising the best interests of their clients.

Typical job titles include

Knowledge, skills and behaviours (KSBs)

• Knowledge
• Skills
• Behaviours