How to Start an Online Mortgage Broker Franchise

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online mortgage broker

Worth a huge £1.3 trillion, the UK’s mortgage market is the biggest in Europe. While most Britons cannot afford to be cash buyers, a large majority of UK sales are made with the help of a mortgage. With 11.1 million mortgages in the UK, 2016 saw more than 300,000 first-time buyers move into their first homes. While the average first-time buyer is 30 years old and has an income of £41,000, interest on the average mortgage payment adds up to £3,154 per year.


Taking into account a client’s deposit, credit history and monthly payment preferences, as well as interest rates, mortgage brokers use their extensive knowledge of the current market and mortgage deals to recommend the best course of action to potential lenders.

While clients should strive to investigate their personal networks to find a mortgage broker whom they trust, brokers must be able to explain the reasoning behind each of their suggestions and avoid giving out unreliable or irresponsible advice.


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Mortgage Broker Course Online


In an industry with such high salary prospects, it is no surprise that many people are interested in gaining mortgage broking qualifications. With many sites pointing towards different courses and qualifications that can all be taken from your own sofa, it seems that there are limitless opportunities to break into the business.


Online resources offering training schemes boast the independence and high returns associated with mortgage broking, as well as the chance to develop your career with further training in similar areas.


Those with minimal experience in the finance sector can gain an entry-level qualification with the Certificate IV in Finance and Mortgage Broking.


The Diploma of Finance and Mortgage Broking Management provides tuition for people with basic knowledge of the sector who are looking to broaden their knowledge and build on their current skills. Enrolment on this course does not require the possession of the Certificate IV in Finance and Mortgage Broking, and, once completed, enables attendees to become a mortgage broker. Those who enrol will gain an insight into many aspects of the business, including commercial lending, broking and risk management.


Related qualifications include the Graduate Diploma in Financial Planning, the Graduate Certificate in Applied Finance, the Master of Applied Finance, and the Diploma of Insurance Broking, all of which can be taken online.


Online Mortgage Broker UK


While there are an abundance of online mortgage broking courses to choose from when trying to break into the business, it can be financial advantageous to invest in a mortgage broking company that is already up and running and offering franchising opportunities. Many businesses searching for franchisees offer their own training scheme tailored to those joining their brand.


These programs often provide comprehensive tuition in many aspects of the financial sector free of charge. At the end of the process, franchisees are the manager of their own branch of an established and successful mortgage broking company, with the potential to generate six-figure revenues.


Point Franchise offers a number of franchise opportunities in the finance sector. Here are some specific online mortgage broker franchises you can get involved with:


Your Mortgage Plus


Become a mortgage, finance and protection specialist with Your Mortgage Plus, an online mortgage broker that offers mortgage and insurance services in the UK. With more than 15 years in the industry, Your Mortgage Plus allows franchisees the freedom to work part- or full-time from home, adapting their work-life balance to suit them.


Prospective franchisees can choose from a selection of franchisee packages starting at £19,995. Payment plans are also available to facilitate investors’ individual requirements, while returns of £25,000 to £60,000 can be expected within the first year, rising to £75,000 in the second, and then to £100,000+.


Those choosing to franchise with Your Mortgage Plus will benefit from an established training scheme consisting of three weeks of business training (available at locations across the UK), before ongoing professional development training involving seminars, webinars and meetings. Franchisees will receive support on a range of services, including website development and marketing.


Franchisees will gain industry-recognised professional qualifications and be supported by a dedicated office team. Enterprising franchisees who intend to broaden their horizons will also have the opportunity to train in related areas, such as equity release and wills and trusts.


Brokerplan


Brokerplan operates a team of finance brokers to provide online financial services such as commercial and business loans and mortgages, development funding, equity release and personal loans. As the UK’s top commercial finance network, Brokerplan works with payments of several thousand pounds up to £10,000,000+.


Franchisees can work from home but must be prepared to invest at least £4,995, but larger payment options are available, rising to £29,995. Recurring monthly costs should be paid, in order to cover Financial Conduct Authority compliance costs, as well as website and email costs and support in marketing and business development. Like Your Mortgage Plus, this online mortgage broker can generate six-figure returns after developing the franchise according to the brand structure.


Franchisees do not need to have experience as a mortgage broker or within the sector or related fields, as they will receive an extensive business launch package which includes a two-day business training course.


Conclusion


If you’re looking to invest in a British franchise, there are plenty of opportunities to develop online mortgage broker companies. With potential franchisees able to work from the comfort of their own home, spend more time with their family and maintain a healthy work-life balance, there are many advantages to launching and managing an online mortgage broker franchise, not to mention the lucrative possibilities after the successful development of the brand model for two or more years.


Business-oriented people who are passionate about offering valuable financial advice to prospective mortgage holders and are dedicated to the future of their chosen business should look no further than the online mortgage broker opportunities detailed above to take their career to the next level.

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