THE MORTGAGE BROKER ACADEMY
We are pleased to introduce you to our new Academy, provided by our Financial Services network, Connect for Intermediaries.
The Academy has been designed to help you become a confident and competent adviser in the specialist mortgage market.
In the residential market an adviser must hold a mortgage qualification and be supervised until they can demonstrate they are a competent adviser. There is no such requirement in certain parts of the specialist market, so technically someone could be working as a builder one day and set themselves up as a Commercial, Bridging and BTL broker the next day without a qualification, or for most of the sales, without FCA regulation!
However, most lenders will not accept an application from an adviser who is not part of a regulated environment.
Our Network provides its service to support this type of adviser. In fact, the number of lenders accepting business from non-regulated brokers diminished even further in 2018, even where the lenders are offering non-regulated products, they still have a preference to deal only with regulated brokers.
Assured Funding Ltd's proposition has always been to treat our Clients as though they, the types of properties and of course the funding solutions, are all supported as if under a regulated environment. This adds further protection for all parties including our Client, the bank and our Firm.
Assured Funding, via our Network, normally only accepts experienced brokers, so the Academy is designed to enable those with less experience to enter the market.
Even for those with a qualification, there is an incredible amount that a mortgage adviser needs to learn about actually researching the market and giving advice, especially if they are new to the market. The Academy will help candidates develop their mortgage knowledge, with a focus on their understanding of the criteria and lender offerings in the specialist market.
The Academy will be offered to candidates who are deemed capable, such as brokers returning to the industry, accountants and property experienced individuals such as Estate or letting agents who wish to start a new business.
Requirements:
Qualification is not required (residential loans are not part of this course) Candidates however should have some knowledge of the property market, have the ability to learn and bring a laptop for hands-on learning during their training week.
Content:
Candidates will have the opportunity to review pre-course material, to ensure they have a minimum level of knowledge to maximise their learning during the Academy week.
Curriculum will include:
1. Core compliance training
Money Laundering
Data Protection
Complaints
Understanding the mortgage basics
Treating customers fairly
2. Specialist knowledge training
Calculating BTL rental affordability
HMO and multi-unit property
Bridge finance- refurbishments and other uses
Commercial and business funding
Lender criteria complexities
3. Researching the market
Fact finding
Understanding a credit file
Understanding accounts and complex income
Using Research tools like Knowledge Bank
Creating an illustration in Twenty7tec
Lender resources
Case studies
Presenting solutions and closing the sale
4. Submitting business
Application process
Using OMS for submissions
Using OMS for tracking
Documentation standards
Undertaking risk checks
Customer Service Standards
5. Generating leads
Networking
Social media
Email marketing
Advertising approvals
Existing customers and personal recommendations
Moving forward:
Learning will continue after the course and candidates will have access to the team to help them successfully find solutions for their cases. The team will also mentor the candidates growth and development in the months following the course to help them to achieve Competent Adviser Status in their chosen product areas.
Upcoming Academy dates
LAST DATE OF 2019 - 2nd December – 6th December 2019
Fees and charges. Authorisation and Network training fee > £499 includes 1 week course. Ongoing monthly membership and support fees apply via Assured Funding Ltd
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What's next? To find out more and to secure a place on the next Academy date (subject to availability), complete and send the form below.