Are you looking to kickstart your career in the finance industry? This standard features a great opportunity to start your journey with a Level 3 Mortgage Adviser apprenticeship.
There are multiple different businesses that provide advice when it comes to mortgages. Whether it’s via intermediaries in the form of an independent broker, or direct from a bank to consumers. Due to recent regulation changes, the role of ‘mortgage adviser’ has become more technical with an increase in regulatory requirements leading to a higher demand for qualified professionals within the field.
The Role: Mortgage Adviser
The role requires the successful applicant to identify and satisfy customer mortgage requirements and any associated protection needs. This will be done in the form of fully regulated meetings that will take place in a variety of environments. Depending on the type of employer, this could be face to face or over the telephone.
The mortgage adviser is also responsible for advising related protection products such as critical illness, accident, sickness and unemployment, income protection, and building and contents insurance.
Furthermore, this apprenticeship will offer the perfect entry point for a career within the mortgage advice sector. However, this is not limited and may also offer the potential progression into other financial service roles. This is an attractive role for candidates of different backgrounds with a variety of skills and experiences.
The Requirements
Giving clients advice on appropriate mortgages and protection products such as life insurance is one of the main responsibilities for a Mortgage Adviser.
The requirements for this position include:
- Being able to provide excellent quality service with effective questioning techniques and fact finding
- The ability to plan and prioritise workloads whilst delivering all required outputs to customers and colleagues
- High quality written and verbal communication skills with the ability to communicate effectively with colleagues as well as customers and professional contacts
- A basic understanding of regulatory requirements such as compliance and GDPR
- The ability to identify, create, and develop relationships that support the role
- Proficient IT skills to deliver positive outcomes for customers and the business
Level 3 Mortgage Adviser Competencies
The Level 3 Mortgage Adviser apprenticeship consists of a list of competencies that the applicant will demonstrate throughout the duration of the course.
These include:
- A strong awareness of the industry and company
- An understanding of appropriate business and personal conduct
- Knowledge of the purpose and technical content of the products within the role
- An understanding of the systems and tools that are needed to process a mortgage
- Demonstrating an understanding of the roles of other colleagues
- Understand the principles of excellent quality customer service and high company standards
- A commercial awareness of the wider mortgage sector. This can also include customers, competitors, and suppliers
In addition to this, the successful candidate will demonstrate professionalism, adaptability and will be goal-orientated. Other desired qualities also include excellent problem solving skills as well as consistently supporting colleagues and collaborating.
Course duration
The apprenticeship course will take between 12-18 months to complete.
Qualifications
Apprentices who don’t have Level 2 English and Maths will need to achieve this prior to completing the apprenticeship.
The apprentice must complete one of the following qualifications:
- The London Institute of Banking & Finance Certificate in Mortgage Advice and Practice (LIBF)
- Certificate in Mortgage Advice (The Chartered Insurance Institute)
- Mortgage Advice Practical Certificate (The Chartered Banker Institute)
The Takeaway
The Level 3 Mortgage Adviser apprenticeship is an opportunity to take the first step in starting a career in the finance and accounting sector. Further career progression within this industry can lead to discovering a range of new positions and with an increase in experience, a great salary.
To keep up to date on the latest apprenticeship standards, look out for our latest blog posts. If you’re interested in starting a career on a different path, check out the full standards list here.
