Is mortgage introducer a profitbale business? which company can I register with and do I need FSA authority?
2007-05-17 23:51:20 · 4 answers · asked by Anonymous in Business & Finance ➔ Personal Finance
Yes, it can be = usually the job is Commission based (so you have to work hard at convincing people to take up a Mortgage through you)
Typically Estate Agents employ Mortgage experts = yes you will need to take appropriate exams and hold relevant qualifications
I suggest you go down to your local Estate Agent and ask to see the Mortgage Adviser = make friends and ask him/her how to get into the business !
2007-05-18 00:00:58 · answer #1 · answered by Steve B 7 · 0⤊ 0⤋
You will need to take the appropriate mortgage qualifications (ce-map). Look on the Chartered Insurance Institute website, www.cii.co.uk for information and course literature. The exams can be taken at the driving licence test centres. You will also need industry experience, so I suggest you write to the Banks and local Independent Financial Advisers to see if they are taking on any trainees. This does work, this is how I got my job and I have been qualified 6 years now. By joining an exisiting firm they will already be registered with the FSA. Setting up on your own could be difficult as you will have large set up costs and no clients. Commission is only paid once a mortgage completes. Good luck.
2007-05-18 01:58:17 · answer #2 · answered by acm1232002 2 · 0⤊ 0⤋
I am a Secured Loan Packager for the largest broker-to-broker packager in the UK! Mortgage introducers can gain a massive extra income simply by passing on second charge (secured loan) leads to myself. I will then deal with the application from start to finish and then pay them comission for simply passing the name over to myself! The average comission we paid PER application last month was £1280! Can you see that there is a huge potential there for earning extra income with very little input. In fact, i do all the work and pay you for it! One of my brokers passed me three leads which I packaged, and he earned £4600 in one month, for simply passing me the names! If you dont believe me you can ask him yourself! All you need is a CCL (Consumer credit Licence). If you are intrested then email me and I will send you a broker pack and you can start gaining massive extra income. There really is no catch
2007-05-18 06:25:47 · answer #3 · answered by Anonymous · 0⤊ 0⤋
But will you be happy trying to "sell" something to someone who could usually do better elsewhere? Is it really likely that the product that you sell - and on which you get a commission - is the best deal? In most cases the businesses are tied to one product?
2007-05-18 00:30:17 · answer #4 · answered by Davy B 6 · 0⤊ 0⤋