Mortgage Broker
On this page
- What's it like to be a Mortgage Broker?
- How to become a Mortgage Broker
- Latest Mortgage Broker jobs
- Top skills and experience for Mortgage Brokers
What's it like to be a Mortgage Broker?
A Mortgage Broker (Kaitakawaenga Pūtea Taurewa) is a licensed Financial Adviser who works with mortgage applicants (people wanting to buy a house) to secure a loan from a bank. While they act as intermediaries between an applicant and a bank, their goal is to help applicants get the best deal for their financial and life situations. They must have a broad knowledge of banks’ products and services, and relevant financial laws. Mortgage Brokers advise clients on their options, and help them through the process of applying for a mortgage. They usually work regular business hours within an office setting.
Tasks and duties
- Assessing clients' financial situations and personal needs in order to determine their borrowing capacity.
- Researching home loan packages and providing impartial advice to clients.
- Helping clients select a home loan that matches their needs.
- Facilitating and managing the loan application and settlement process.
- Liaising with other key parties such as banks and conveyancers.
How to become a Mortgage Broker
To become a Mortgage Broker you must be a registered Financial Adviser.
Consider completing a Certificate in Financial Services (Level 5) (Residential Property Lending). This will take 16 weeks of study.
Alternatively, you could consider completing a bachelor degree in finance. While this degree isn’t essential to becoming a Mortgage Broker, it may open up a broader range of career options.
Register as a Financial Adviser, either under an employer or with your own Financial Advice Provider license. To do this, you’ll also need to be on the Financial Services Provider Register and join a Dispute Resolution Scheme.