Mortgage Broker Kaitakawaenga Pūtea Taurewa
Mortgage brokers offer financial advice to people wanting to buy a house or property and help them apply for a home loan.
To practice as a mortgage broker, you must be registered as a financial adviser under your employers or your own Financial Advice Provider license. This involves registering on the Financial Services Provider Register (FSPR) and joining a Dispute Resolution Scheme (DRS).
Mortgage brokers may do some or all of the following:
- research the mortgage market to find options for clients
- advise clients on mortgage options, the home-buying process and the property market
- help clients structure their loan, use funding options and calculate repayments
- help clients complete a mortgage application
- organise building reports, home valuations and insurance.
Useful experience includes:
- work in real estate, finance, accounting or banking
- sales experience
- valuation and property management work
- managing others.
Mortgage brokers need to be:
- motivated and organised
- able to work under pressure
- good communicators
- able to pass a criminal convictions check.
Mortgage brokers need to have:
- knowledge of different mortgage options and processes home-buying
- negotiation and sales skills
- communication and relationship-building skills
- the ability to interpret financial reports and statements
- computer skills, including accounting software and Microsoft Office.
- may work regular business hours or in evenings and weekends to meet clients
- spend most of their time working in an office environment
- may travel to clients' homes or workplaces.
There are no specific secondary education requirements to become a mortgage broker. However, useful subjects include maths, economics, accounting and business studies.
Mortgage brokers may progress to buy their own franchise or move into property management roles.
Years Of Training<1 year of training usually required.
To become a mortgage broker you need to be registered as a financial adviser under your employers or your own Financial Advice Provider (FAP) licence.
To get a financial advice provider licence you need to:
- join and register with a dispute resolution scheme (DRS)
- register on the Financial Service Providers Register (FSPR).
Licensing and registration for financial service providers is provided by the Financial Markets Authority (FMA).
Financial advisers need to meet the personal requirements listed in the Code of Professional Conduct for Financial Advice Services.
You can meet these requirements by gaining the New Zealand Certificate in Financial Services – Financial Advice (Level 5).