Online Mortgage Advisor launches broker training academy

Ryan Bembridge

February 20, 2019

Online Mortgage Advisor (OMA) has launched an online training academy accredited by the London Institute of Banking & Finance (LIBF).

The introducer’s programme, ‘OMA Advisor Assessment’, is designed to both train and test CeMap-qualified brokers about specialist areas of the market.

OMA primarily works with specialist residential and buy-to-let customers, while it’s in the process of expanding into commercial mortgages and equity release.

Pete Mugleston (pictured), managing director of Online Mortgage Advisor, said: “Our goal is to help educate our network of brokers on how to help more customers.

“Brokers working for firms tend not to get sales training or training on how to place mortgages in different scenarios.

“We are trying to bridge that gap. We want to make sure the brokers who work with us are experts and they can’t access a borrower until they have a licence to do so.”

Brokers can only work with a customer in a given category once they’ve passed tests on the subject.

For example, they can only work with a client classified as self-employed by OMA after passing relevant exams, which are in the form of multiple-choice questions.

Owing to the LIBF accreditation, advisers can claim their time spent on the system learning and sitting the assessments as time towards CPD hours.

Online Mortgage Advisor currently links up with 170 brokers from 35 active firms.

The firm is an introducer that shares commission on the successful placement of mortgages.

In all OMA has six core modules about advice, understanding the industry and handling customers in the right way.

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