Newly Qualified Cemap

[Malik1]

Hi, I recently passed my Cemap Qualifications. I am new in this industry as I have no Mortgage or Financial Services experience.

Can you please give me any advice what should be my first step forward in getting experience and gaining CAS status.

I have seen people have talked about joining Networks.

I would appreciate your suggestions to kick start my Mortgage career.

Thanks

 

[KAC]

@tony84 may be able to give you some advice

 

[tony84]

You could potentially join a network on a self employed basis, but you will be on your own which is basically throwing yourself in at the deep end. You will spend a lot of time on relatively easy cases and you will spend a lot of time on cases with no hope, but it will give you experience if nothing else. The network will help with compliance, but that is it. They wont provide leads and wont help you place cases - expect to pay out 25-35% of your turnover but could be a lower cut and a monthly fee instead.

You could look at joining an existing firm. You will probably pay a bigger cut, but you might get leads provided and you will have someone on hand to speak to when you get a nightmare case (which will be every case for the first 6 months). Maybe 25-50% of turnover.

You might be able to find a self employed role with an estate agent or bank, but those will be harder to find and get with no experience. They will also work you like a dog and you might have to lower your morals.

Have a look for which-network, could be useful.
Other than that, you just have to do whatever you can to get your first steps and get CAS. Once you have CAS the world is your oyster so to speak. Just have a think if you are giving up an employed position if it is a good choice at the minute. All expectations of the housing market are negative or at best, neutral.

I am not sure now is the best time to be taking your first steps.

 

[Malik1]

Thanks Tony so basically with joining network I have to find clients my self which is very hard as I have no experience

You could potentially join a network on a self employed basis, but you will be on your own which is basically throwing yourself in at the deep end. You will spend a lot of time on relatively easy cases and you will spend a lot of time on cases with no hope, but it will give you experience if nothing else. The network will help with compliance, but that is it. They wont provide leads and wont help you place cases - expect to pay out 25-35% of your turnover but could be a lower cut and a monthly fee instead.

You could look at joining an existing firm. You will probably pay a bigger cut, but you might get leads provided and you will have someone on hand to speak to when you get a nightmare case (which will be every case for the first 6 months). Maybe 25-50% of turnover.

You might be able to find a self employed role with an estate agent or bank, but those will be harder to find and get with no experience. They will also work you like a dog and you might have to lower your morals.

Have a look for which-network, could be useful.
Other than that, you just have to do whatever you can to get your first steps and get CAS. Once you have CAS the world is your oyster so to speak. Just have a think if you are giving up an employed position if it is a good choice at the minute. All expectations of the housing market are negative or at best, neutral.

I am not sure now is the best time to be taking your first steps.