CeMAP and becoming a mortgage broker
Discussion
Not sure if this should be in finance or jobs ... but ...
Within my immediate family we have a business that requires the regular use of a mortgage broker.
Said family member is struggling to find a decent, reliable broker who is not just trying to earn as much as possible and is doing their due diligence to provide the best product for specialist clients.
The topic arose over Christmas as my partner is looking for a home based job and this would suit perfectly, so I have started to research the regulatory side of this on her behalf;
Complete CeMAP and qualify
Complete official CeMAP exams and become accredited
Obtain CAS (Competent Advisor Status) - Sticking point and need some advice here
Obtain CCL / DPL (If self employed)
FCA regulation (if Self-Employed)
Another option, I believe, is to work under someone else's FCA "Umbrella" and maybe CCL / DPL.
Professional indemnity insurance (If self employed)
I assume the hardest part is the contacts / network; this is already established and essentially she needs the ability to stand on her own two feet as a broker, I do not think any face-face advice will be given.
The FCA site is quite difficult to understand but I believe it requires an "A19" license, registration fees, licensing fees, again if she was to become self employed.
Within my immediate family we have a business that requires the regular use of a mortgage broker.
Said family member is struggling to find a decent, reliable broker who is not just trying to earn as much as possible and is doing their due diligence to provide the best product for specialist clients.
The topic arose over Christmas as my partner is looking for a home based job and this would suit perfectly, so I have started to research the regulatory side of this on her behalf;
Complete CeMAP and qualify
Complete official CeMAP exams and become accredited
Obtain CAS (Competent Advisor Status) - Sticking point and need some advice here
Obtain CCL / DPL (If self employed)
FCA regulation (if Self-Employed)
Another option, I believe, is to work under someone else's FCA "Umbrella" and maybe CCL / DPL.
Professional indemnity insurance (If self employed)
I assume the hardest part is the contacts / network; this is already established and essentially she needs the ability to stand on her own two feet as a broker, I do not think any face-face advice will be given.
The FCA site is quite difficult to understand but I believe it requires an "A19" license, registration fees, licensing fees, again if she was to become self employed.
Hello Towser, no real rush in all honesty, I am also in the process of setting up my own firm so this is priority 2 
but it doesn't harm to plan in advance.
I assume the easiest way is to qualify and trade under the "umbrella" of another business with all permissions in place and pay them a % of earnings, whilst fully understanding and learning the business itself?
As this would be a house job / 2nd income I think that arrangement would certainly suit in the beginning whilst the potential is under review.
but it doesn't harm to plan in advance.I assume the easiest way is to qualify and trade under the "umbrella" of another business with all permissions in place and pay them a % of earnings, whilst fully understanding and learning the business itself?
As this would be a house job / 2nd income I think that arrangement would certainly suit in the beginning whilst the potential is under review.
Gassing Station | Finance | Top of Page | What's New | My Stuff