Banking & Financial Services

Mortgage Adviser/Broker

Mortgage advisers or brokers act as independent agents to help people to find and apply for a mortgage when they are buying a property.

  • Entry-level education

    VET qualification

  • Job outlook

    1 2 3 4 5

What does a Mortgage Adviser/Broker do?

Mortgage advisers or brokers act as independent agents to help people to find and apply for a mortgage when they are buying a property.

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Work activities

As a mortgage adviser or broker, you would:

  • handle telephone and email queries relating to mortgage enquiries
  • meet with clients to advise them on the homebuying process
  • find out about your client's finances
  • recommend a number of mortgage options for the client to choose from
  • help clients complete mortgage applications
  • ensure all documentation and required paperwork is correct and complete
  • submit & monitor the progress of loan applications
  • manage multiple settlement deadlines
  • meet sales targets
  • deal with estate agents, solicitors and mortgage lenders
  • keep up to date with industry developments and changes in legislation.

Mortgage brokers usually have access to a wide range of lenders and products, and should aim to source the best and most appropriate loan for their clients. You could also be an independent financial adviser, providing information on all types of financial products, including mortgages.

You would need to follow strict industry rules and guidelines, which make sure that you act fairly and are qualified to give appropriate financial advice.

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Key skills and interests

To become a mortgage adviser or broker, you would need:

  • excellent communication skills
  • willingness and passion to deliver excellent customer service
  • the ability to explain complex information clearly and simply
  • good maths and numerical skills
  • good computer skills
  • sales skills
  • to be proactive and self-motivated.
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Working hours and conditions

Working Hours

In a full-time job you would normally work a standard number of hours per week. You might work standard office hours, but also need to be available to meet clients at nights or on weekends. Part-time work should be possible.

Conditions

You would usually be office-based, although some independent advisers work from a home office and travel to meet their clients.

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How to become an Mortgage Adviser/Broker?

Entry Level Education

To become a mortgage adviser you will need to have completed a VET qualification in mortgage broking. To get into these courses, you would usually have to gain your senior secondary school certificate or equivalent.

You will need to either hold an Australian Credit Licence or be authorised under a licence held by your employer. You may also be required to become a member of a professional mortgage industry body.

Mortgage advisers usually either begin their careers in junior finance roles in areas such as lending, and work their way up to more senior roles; or move into broking after longer careers in finance or a related discipline.

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Job outlook

  • 1 2 3 4 5

Employment for mortgage advisers is projected to remain neutral.

There is a continuing steady demand for mortgage loans due to population growth.  As more people move away from the traditional bank model and look for other mortgage options, there is continued demand for mortgage advisers. However with the growth of online technologies available to the general public people are increasingly making mortgage decisions without using a broker.

 

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