I am relatively new to the mortgage industry and find it more difficult to get on the first step of the ladder than a first-time buyer does in the housing market. I have completed two months with a mortgage broker and find it almost impossible to get the required training to actually be able to do the job.
I noticed in the article Stacy Hillman, from London recruitment agency Hillman Saunders, states that it is looking for full CeMAP qualified and preferably FPC qualified advisers.
Could somebody possibly tell me how a newly qualified CeMAP adviser is supposed to get the training in this market? It reminds me of the transport industry that I left some months ago, where a new driver would come into the office, the traffic clerk would hand him keys and paperwork and ask him to go out and do a job he has never been trained for and then hold the driver accountable when things go wrong. I find the mortgage industry is no different and I wonder why the Financial Services Authority (FSA) is so hot on ‘Treating Customers Fairly’ (TCF) when new advisers are being exposed to similar practise.
After having four options of employment within the industry and taking one of those, I am no different than an introducer and this is reflected in how commissions are reduced by the company, which expects the adviser to be able to carry out a job they have not been fully trained to do.
I know that I am not alone in this situation, having spoken to several other newly qualified CeMAP advisors that are unable to get jobs. Also, I can see how new mortgage advisers are being taken full advantage of by brokers and training companies that provide the training for CeMAP.
Gabriel O’Doherty
Mortgage Adviser
