The UK housing market is highly competitive. More than 11 million UK residents have mortgages, and the industry is worth approximately £1.3 trillion (https://www.cml.org.uk/industry-data/key-uk-mortgage-facts/). It is, in fact, the largest in Europe, with many other countries preferring to rent or lease rather than buy.
Not only is the market huge, but it is also fast moving. Major high street lenders, small specialist lenders, and other financial institutions offer access to a wide range of financial products that are geared towards the homeowner, and the choice of mortgages can be overwhelming to the borrower.
This is where mortgage advisers, and mortgage brokers, can prove especially useful, and it also represents a good opportunity for an entrepreneurial mind to be able to profit while also helping individuals and families to buy the dream house that they want.
Establishing a mortgage business is almost impossible. The business owner needs to become licensed and accredited. It also takes a considerable amount of capital even if you only intend to an individual person. There are marketing, administrative, and multiple other costs to factor in, and this means that it really is impossible for all but the wealthiest and most financially experienced groups to be able to set up this kind of business. Similarly, to set up a broker or advisory service, you will need to have a strong reputation for being reputable and for providing reliable advice.
Buying a franchise, rather than attempting to setup on your own, means that you can trade on the existing reputation of an established business. Investing in a mortgage franchise from a company like The Good Estate Agent or Ingard means that you will be investing in a business that has already developed this reputation. Although franchise costs do vary, they cost considerably less than paying to establish and run your own business. Get in touch with us today to start setting up your mortgage broker/adviser franchise.