| Much like a broker can help you find the best | | | | Chartered Insurance Institute (CII) Certificate in |
| companies and finance, etc, a mortgage advisor can | | | | Mortgage Advice, or the ifs School of Finance in |
| also help you find the best option for you. He or she | | | | Mortgage Advice and Practice (CeMAP). If you want |
| can also help you in the application process, and offers | | | | to use the services of a mortgage advisor, whether |
| an excellent service for anyone buying a house. The | | | | through your bank or otherwise, you should look for |
| main difference between a mortgage advisor and | | | | these qualifications. |
| broker is the training and expertise needed to do each | | | | Once someone has passed the relevant exams to |
| job. | | | | become a specialist mortgage advisor, they can then |
| As well as the advice a mortgage advisor can give | | | | take the next step up, and become a financial advisor. |
| you when it comes to buying your house, they can | | | | The benefit to you is that not only can you then use |
| also offer: | | | | the same person to handle both your mortgage and |
| Â- Different mortgage options for you to choose | | | | other financial details - pensions, life assurance, etc - |
| from | | | | but you won't have to explain everything about your |
| Â- Advice on mortgage protection, repayments, | | | | current situation to a different person every time. |
| re-financing, etc | | | | Another area to consider if you are thinking about |
| Â- Offer building insurance alongside the mortgage | | | | using an advisor to help you with your mortgage is |
| itself | | | | whether or not they are being completely unbiased. |
| Although a mortgage advisor can discuss so many | | | | For example, if you use your bank and they provide an |
| different financial aspects with you, they don't need to | | | | advisor for you to work with, you would only be |
| take any specialised training courses or need any | | | | getting advice on the services that the bank itself |
| professional qualifications initially. This is another aspect | | | | offers. |
| that sets them apart from a mortgage broker. They | | | | However, if you were to use the estate agent selling |
| will need to take a basic training course, but this is | | | | the property, or a mortgage broker, then you would be |
| more in customer service and relations. | | | | offered a far greater choice and benefits from a |
| The route to becoming an advisor is quite a | | | | much larger range of financial companies. This is |
| straightforward one - normally starting off in a bank as | | | | definitely something to keep in mind when working with |
| a customer service representative, or an administrative | | | | a financial advisor, and will make sure that you |
| role within a financial services company. If they decide | | | | eventually get the mortgage and advice that's right for |
| to pursue the more dedicated mortgage advisor route, | | | | you. |
| this is when the additional training will come into effect. | | | | Remember that all advice received is at no obligation |
| The Financial Services Authority (FSA) requires that | | | | until you sign on the dotted line. You should therefore |
| anyone giving specialist mortgage advice needs to be | | | | not feel overwhelmed or pressured when gathering |
| proficient to a certain level. This means that to be a | | | | information from a mortgage advisor. |
| mortgage advisor, a trainee has to study for either the | | | | |