In my opinion, the reality of all this is that most UK mortgage broker franchises either offer bad value for money or they have just not evolved yet to the required standards.

With the Financial Services Authority (FSA) now regulating the mortgage industry, the mortgage broker franchise has become an extremely expensive mortgage franchise to both set up, train individuals and to maintain the standards set out by the FSA. As a consequence of this the market is either shrinking or at best standing still. With the expansion of Mortgage Networks springing up in the UK, a lot of experienced advisers have scurried under their umbrella and newly qualified advisers continue to struggle to find work or to find the best UK mortgage broker franchise to operate under.

With the regulations of the mortgage industry now well on the way, the exodus of the older and under qualified advisers has left a void and there is now a massive shortage of qualified advisers on a national basis. This is all well and good you may say but if you are a newly qualified adviser or considering entering the mortgage industry, how do you get fixed up with work or set up in business in a mortgage broker franchise. Lets look at this below:

Newly Qualified Mortgage Advisers
The key to finding work as a mortgage adviser is to quickly identify the market that you would prefer to work in, e.g. employed or on a self employed contract.

Banks, Building Societies, Estate Agents
As an employee, the starting salary of a trainee mortgage adviser is around £18,000 - £25,000 plus bonuses and in some instances a company car may be supplied.

These positions are ideal for individuals that require an immediate income, security, and have a preference for being looked after and guided on a daily basis as an employee, realising that although their income is assured, their earnings maybe capped .

UK Mortgage Brokerages
There are however individuals who prefer a more flexible working arrangement of not having to turn up for work on a 9-5 situation and prefer to have the flexibility of working evenings and having their destiny in their own hands and not having their earnings caped. Some of these brokerages offer different financial packages and the may range from fully commission only to part salary and part commission and in some instances a car may also be provided. The drawback to this of course is that mortgage brokerages are looking for experienced individuals, not newly qualified

New Entrants and CeMAP Training Courses
Being in the Financial Services Industry for over 20 years, many people have asked me what it takes to become a qualified mortgage broker. As the Marketing Director of Money Marketing Limited, a company that trains hundreds of budding UK mortgage advisers per month, I feel that I am well qualified to answer that question.

It takes dedication, focus, hard work, the ability to strive for success, help from cemap training courses and a continuous training programme.

So what criteria should you use when deciding on your future career direction? Well, try asking yourself a few of the following questions:

· Do you think that you would enjoy helping people with their finances?
· Would you prefer to be an employee?
· Would you like to be self-employed?
· Are you determined to become a high earner?
· Are you intent on being successful?
· Would you like to be in charge of your own destiny?

A 'yes' answer to most of these could mean that you could consider investigating how to become a mortgage broker but before you do, let us look a little further. The start to becoming a UK mortgage broker is passing a mortgage advice qualification and in my opinion the most recognised one in the UK is the Certificate in Mortgage Advice and Practice (CeMAP)

You will not need academic qualifications to be able to pass the Cemap exams but one thing you will need is a strong desire to succeed in a highly competitive industry. Do take care, as the route to becoming a mortgage broker could be fraught with dangers for the unprepared and under researched person, as the journey could be a long and arduous one. Care should be taken when choosing the company for the initial CeMAP training as many organisations are strictly in the business of offering either a two-day revision course or a self-study CeMAP examination course that in our opinion is not enough.

Furthermore, there are unscrupulous organisations that may try to lure individuals into offering cheap CeMAP training courses with the promise of a guaranteed job at the end of it but in reality they are more interested in taking their enrolment fee and offering them little in return.

The mortgage market is a recession proof business, as when times are good and consumer confidence is high, people tend to borrow for cars, holidays, home improvements and many other things. Then, when consumer spending has peaked and the economy slows down, many people experience difficulty repaying their debts and meeting their other financial commitments. In such circumstances, it is often necessary for them to consolidate their debts into one lower monthly repayment by remortgaging.

Remortgaging clients, debt consolidation, raising capital for home improvements, financing the purchase of holiday homes are all solutions that a mortgage advisor will be able to provide and it will keep them very busy in times of recession.

The best mortgage broker amongst us is well capable of dealing with economic changes, as they are well prepared, honed, well trained and have all the sales skills on board to make the difference, but be aware that the income of a mortgage broker can vary from £25,000 to £150,000 pa.

Which Mortgage Broker Franchise?
As previously mentioned, most mortgage advisors working for banks, building societies and estate agents work on a salary plus a bonus system and the employer keeps the bulk of the commission income generated from the sale of mortgages and insurances. The packages on offer to the employed UK mortgage advisor can range from a minimum of £18,000 pa plus car and bonuses, to £35,000 pa plus car and bonuses, dependent upon what part of the country you work in.

The self-employed mortgage broker however can determine his/her own income but this can depend on a number of factors.

· How skilled are they?
· Do they and can they charge a broker fee?
. How well trained are they?
· Do they arrange insurances?

Typical commissions earned from arranging insurance products can range from a few hundred pounds to thousands, dependent on the type of policy sold. The ability to arrange insurances for mortgage protection purposes is a requirement of the Financial Services Authority but as well as that it is another earnings opportunity for the go for it mortgage broker.

For the right person the career of a mortgage broker can be extremely satisfying and for the most successful ones the world is their oyster, as the opportunities are endless. Let your imagination run away with itself and picture the nice house, the quality car, the white sands on holiday and the clothes that you have always dreamed of.