Connect for Intermediaries held its first academy for trainee mortgage brokers this week, designed to bring new advisers into the specialist mortgage industry.
It’s open to brokers returning to the industry after a period of absence, accountants, estate or letting agents and other individuals experienced in property who want to make the move into advice.
The academy is also open to existing members of Connect’s network to want to grow their businesses by taking on trainees or other new staff.
Liz Syms, chief executive of Connect for Intermediaries, said: “We desperately need to bring new advisers into the mortgage market, and there is an ongoing need to continually raise standards in the specialist mortgage market.
“Even for people with a mortgage qualification, there is an incredible amount a mortgage adviser needs to learn about researching the specialist market and providing advice.
“The Connect for Intermediaries academy successfully achieves all of those things, raising standards, introducing new blood into the industry and helping our existing adviser members to grow their own businesses.”
While there is no regulatory requirement to hold a mortgage qualification or demonstrate competent adviser status in much of the specialist mortgage market, many lenders will not now accept an application from a non-regulated adviser or one who is not part of a regulated environment.
The academy will help potential advisers to develop their mortgage knowledge, covering: core compliance training including money laundering, data protection and treating customers fairly.
It also covers specialist knowledge including calculating buy-to-let rental affordability, HMO and multi-unit properties, bridging finance, commercial and business funding.
There’s how to research the market including how to understand a credit file, accounts and complex income how to use different research tools, presenting solutions and closing the sale.
Furthermore, it also features generating leads covering social media, email marketing and advertising as well as how to generate referrals.
The academy also covers submitting business with the applications process, undertaking risk checks, complying with the highest documentation and customer service standards and tracking cases.
Training and mentoring will continue after the course and all candidates will have access to the Connect for Intermediaries team to help them grow and develop, achieve Competent Adviser Status and become successful advisers.
The first course has eight people on it, with another seven courses planned throughout the year for everyone who couldn’t get on this course and to meet continuing demand, with then next course being held in May.