Mortgage adviser working under a network

Home buyers, people remortgaging, landlords, and sometimes estate agents or solicitors who pay for nothing but send you clients. Lenders pay you commission, and clients may pay an adviser fee.

Procuration fees from lenders when a mortgage completes, plus client fees where you charge them. The network usually takes a share or charges a fee. Income arrives when cases complete, which can be weeks or months after the first chat.

• Clear explaining of money topics
• Careful paperwork and attention to detail
• Building relationships with agents and clients
• Willingness to study for exams

• Advising on mortgages is regulated by the FCA, so check you are properly authorised or appointed before giving any advice
• Check the network's contract for fees, commission splits and what happens to your clients if you leave
• Income can be uneven because you are paid on completion, so plan for a few lean months
• Check which professional indemnity cover is provided by the network and what you need to add
• Working from home may need permission from your landlord or lender, and client data must be handled in line with GDPR

Startup costs are typically around £1,500 to £5,000, depending on what the network charges and the equipment and cover you need. Check the network's contract for fees, commission splits and what happens to clients if you leave.

Monthly revenue is typically estimated at around £1,000 to £5,000, depending on how many clients you find and complete. You are paid on completion, so income can be uneven and it is worth planning for a few lean months.

Mortgage advice is regulated by the FCA, so check you are properly authorised or appointed before giving any advice. Also check which professional indemnity cover the network provides, and how GDPR applies to client data and working from home.