Need advice

[acf]

A friend of mine approached me for my advice on what is required for starting loan broker/intermediary business. Being quite ignorant about the ins and outs of the business I felt that the best forum to ask for the professional advice would be nowhere but this forum. So I shall appreciate if anyone could advise on the following:

1. What exactly is required to start the business i.e. any licence from any authority? Is any professional training needed to start the business?
2. How could be enlised with the lenders?
3. Is there any software available in the market to process loan applications?

Secondly, is it necessary to join any training institute to complete CeMAP to become mortgage advisor? Are relevant books/reading material available in the market?

I am sorry for putting so many questions but I know that my fellow members of the forum are quite generous and always willing to help. I shall be obliged for any PM with professional advice.

Cheers!

Sajjad

[Mwebb]

Refference CeMAP. Google it. I looked into it a while ago. There are places that provide online training for it, then you go to their centre to take the exams. Costs in total Approx £3000 i think.

[Michael]

He could also look into getting a consumer credit licence. It depends on wether he will be working as completely self employed or as an 'introducer' for a finance company.

I know that APS mortgages use introduction agents that work under there licences...

[ajm1966]

Send an email to tony@companionmortgages.co.uk and I will answer any questions that you want to know about getting started in the industry.