Becoming a self employed Mortgage Adviser

[Copperwood]

Thanks for reading this, to give a bit of background I worked for one of the large high street banks as a general adviser for seven years before starting my own sign business which I had been running for the last 10 years before accepting an offer to sell up recently.

I decided that I wanted to return to finance and be a mortgage adviser so I paid myself through CeMAP 1,2 & 3 and the equity release qualification CeRER.

My plan was to go back to working for a bank full time but I would quite like the option to work on a more part time basis giving myself a bit of time at home with the family.

I'm happy to generate my own leads and I don't really need an income anytime soon so i'm fine to start small and grow but as I don't have CAS (Competent Adviser Status) i'm struggling to find out my options - there seems to be a surprising lack of information on the subject.

If there's anyone that has been in the same situation as me or anyone who can help me gain CAS within Sheffield or the surrounding areas please let me know.

I appreciate any responses, Matt.

 

[tony84]

Getting the exams is the easy bit by comparison. CAS is reliant on someone else signing you off and is pretty difficult. I had 1 person trick me in to doing their admin on the promise of getting CAS and another who gave me a very raw deal but eventually I did get CAS. Sometimes you just had to take the proverbial to get to where you want to be.

A couple of options would be to look for a DA (directly authorised) firm who can allow you to trade under their name whilst you gain CAS and beyond if you are happy there. In exchnge they will take a cut of whatever you earn (typically between 35-50%) - that was the route I went down.

Another option like you say is to go and work for a bank. Its a very different job to being a "proper" advisor though.