In June 2022, the FCA reported that some £76.9 billion was advanced to mortgage borrowers in the first quarter of 2022, and a further £82.5 billion worth of new mortgage commitments were added to the pipeline in the same period.
The opportunities to both progress through the ranks and find a new career in the mortgage sector are plentiful, with no experience needed to get started. Having a great university degree is fantastic, but so are other educational backgrounds and experiences; employers in the sector understand that talent and potential come in many forms. That’s why it is an industry that enables people to better their lives and financial position every day.
For many people, a mortgage will be the single largest financial commitment they ever make, and is a precious decision when it usually involves securing a long-term home for them and their family. Working in this sector means making a real difference to the course of people’s lives, and just as there’s no such thing as a typical mortgage borrower, neither is there a typical mortgage professional.
Like any sector, there is always a host of new terms and acronyms to decipher. We have produced a helpful Working in Mortgages Glossary to help you beat the jargon.
If you are applying for your first job in the industry, understanding what goes on behind the scenes in the mortgage world will help you put together a top-quality job application. The guides below will take you through the mortgage application process from the mortgage adviser’s and the lender’s point of view, alongside helpful tips on the qualifications you may need and how to prepare for an interview. We also have a useful infographic for those who may be considering self-employment, explaining the differences to employment and the pros and cons of owning your own business.
Below is a beginners’ guide to some of the key entry points and job functions in the mortgage industry. Currently the focus is on industry-specific roles, however there are also plenty of opportunities in business areas that are not unique to mortgages such as technology, marketing and communications, human resources, finance and recruitment. Some roles that perform the same function may have different names so we have used ones that we feel are the most common. This is something we will add to over time, so should be seen as more of a starting point than an exhaustive list.
