Hi,
I was wondering if you could help me with some questions I have in relation to becoming qualified in the Mortgage Brokering Area. I was also wondering if you need any qualifications to become an Investment Property Advisor/Consultant and if so what are they?
I can be contacted on [email protected]
Thanks
Hi YoungGun,
I’m back and have emailed. I can certainly help with the Broker side, but others in the Property Advisor area can probably give you more input on that side of the triangle … [
]Cheers,
MelHi younggun,[8D]
Contact me on the link below with your CV and phone number and I will see if I am able to advise you.Bryce Inglis
[email protected]
http://www.ipal.com.auHi all
Reading the messages posted I realised you may be able to help me out.
I’m currently looking at what it takes to become a mortgage broker. The Australian Securities Institute seems to offer the best course, however what about employment within the industry.
How does someone with no experience in the field gain employment? Who are the best companies to seek employment with? How do you increase your chances of gaining employment?
Basically any information you could provide on gaining employment (increasing your chances of) would be greatly appreciated.
CheersCarbloke.
It shouldn’t be too difficult finding employment. The securities institute course looks good, and if you had that it should make it easier. A lot of companies employ brokers on commission only, so if you may be able to start doing broking on a part time basis while working elsewhere.
Terryw
[email protected]Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
To work as a finance broker you really need to belong to a group. The mainstream lenders require that as an individual you supply say $1M to $2M per month in business which many brokers don’t do anyway.
The advantage of belonging to a group is that the group has already established ties with the banks and collectively they normally have no difficulty in producing sufficient business to keep the accreditation with the mainstream lenders.
In return for that (and other advantages) management will take a percentage of the brokerage you earn.
However joining a group is something else. They will most likely insist that you either have already had some experience or that you have passed a course like Certificate III in Mortgage Lending (which is a 13 week parttime course at Tafe).
Once you have joined a group you need to attend seminars which each bank runs from time to time
before you can obtain your individual accreditation with the different banks.Perhaps it is worthwhile to establish a relationship with a group right now whereby you may be able to attend the banks’ seminars whilst you are still in the middle of doing your course at Tafe so that you don’t lose any time once you have completed your course.
There are also some exams you can immediately sit for, run by the MIAA (Mortgage Industry Association of Australia) and these exams (which don’t take more than a couple of days to study and finish) will give you some exemptions for the Tafe course (as well as a discount on the Tafe price).
Before starting to write business you will also be required to take out Professional Indemnity insurance.
Note that many groups have a special arrangement whereby the cost will be less than half of what you would be paying as an individual.
Pisces133
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