A mortgage broker acts as an intermediary in the process of home buying between the borrower and the lender of the amount. Mortgage brokers either work independently or as a part of a real estate agency. On the other hand another role in the mortgage field almost performs similar functions is of a mortgage advisor. An advisor like a broker can help you find the best companies and other sources of finance. He also caters to the need of the application process and other specialized service in the process of finding the best deals of the house. They offer you with different mortgage options so that you weigh the pros and cons and then choose the option which suits you the best. Another important aspect for which the services of the mortgage advisors are always weighed is the expert advice which they render for the protection of mortgage, repayments and the advice on refinancing.
Another differential factor between a mortgage advisor and a mortgage broker is the qualification which they need to acquire, the advisors do not require any professional training and on the other hand the broker has to take up a professional training to become eligible. The mortgage advisors are involved more with the customer relations. As far as the experience path which is required to become a mortgage advisor is that a person can start of his/her career as a customer service representative in a bank or even a role in the finance department. But incase they are intending to pursue an intensive approach then it would be better to take up a professional training. The training will help them to derive better output in every stage of their business.
Under the notification of the financial services authority, this says that any person intending to pursue mortgage has to acquire a certain level of proficiency. There are two levels from which the mortgage advisor has to be proficient in either of the two: A certificate course in the chartered insurance institute or the trainees can go for the popular course offered by the Ifs School of Finance in Mortgage advice and practice (CeMAP). It is always important that as a user you need to look in for these qualifications. As a person who has passed the exams you can be assured that he can handle your services well, he can also handle all the financial services like the pension, insurance. It would be useful to you as you will not have to deal with different people every time for your financial services.
It is always essential that you take the services of the most experienced and qualified mortgage advisor so that they can help you to get the best of their deals.
