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Mortgage Broker

Kaitakawaenga Pūtea Taurewa

Mortgage brokers offer financial advice to people wanting to buy a house or property and help them apply for a home loan. 

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Secondary education

There are no specific secondary education requirements to become a mortgage broker. However, useful subjects include maths, economics, accounting and business studies.

Study fields

Study levels

  • Up to NCEA Level 3
  • Certificate

Useful experience

Useful experience includes:

  • work in real estate, finance, accounting or banking
  • sales experience
  • valuation and property management work
  • managing others.

What you will do

Mortgage brokers may do some or all of the following:

  • research the mortgage market to find options for clients
  • advise clients on mortgage options, the home-buying process and the property market
  • help clients structure their loan, use funding options and calculate repayments
  • help clients complete a mortgage application
  • organise building reports, home valuations and insurance.

Skills and knowledge

Mortgage brokers need to have:

  • knowledge of different mortgage options and processes home-buying 
  • negotiation and sales skills
  • communication and relationship-building skills 
  • the ability to interpret financial reports and statements
  • computer skills, including accounting software and Microsoft Office.
Pay

Mortgage brokers who are permanent employees usually earn

$70K-$100K

per year

Job opportunities
Good
Chances of getting a job as a mortgage broker is good due to a strong housing market.
Length of training
<1
year of training usually required.

Industry

Property Services

Mortgage brokers offer financial advice to people wanting to buy a house or property and help them apply for a home loan. 

Similar jobs in this industry

Entry requirements

To become a mortgage broker you need to be registered as a financial adviser under your employers or your own Financial Advice Provider (FAP) licence.

To get a financial advice provider licence you need to:

  • join and register with a dispute resolution scheme (DRS)
  • register on the Financial Service Providers Register (FSPR).

Licensing and registration for financial service providers is provided by the Financial Markets Authority (FMA).

Financial advisers need to meet the personal requirements listed in the Code of Professional Conduct for Financial Advice Services.

You can meet these requirements by gaining the New Zealand Certificate in Financial Services – Financial Advice (Level 5).

Chances of getting a job

Strong demand for mortgage brokers

Demand for mortgage brokers is good because:

  • the occupation continues to grow 
  • there is strong demand for housing and houses are being sold quickly
  • banks are competing with each other to loan money to home buyers.

According to the Census, 1,596 mortgage brokers worked in New Zealand in 2018.

Most mortgage brokers work for brokerages

Many mortgage brokers work for national chains of brokers or smaller independent mortgage broking agencies.

Mortgage brokers may also be self-employed.

Find out more about training

Strategi Group
09 414 1300 - www.strategi.co.nz
Skills
0508 754 557 - www.skills.org.nz

Progression and specialisations

Mortgage brokers may progress to buy their own franchise or move into property management roles.

Working conditions

Mortgage brokers:

  • may work regular business hours or in evenings and weekends to meet clients
  • spend most of their time working in an office environment
  • may travel to clients' homes or workplaces.

Useful personal qualities

Mortgage brokers need to be:

  • accurate
  • motivated and organised
  • able to work under pressure
  • good communicators
  • able to pass a criminal convictions check.

Industry

Property Services

Mortgage brokers offer financial advice to people wanting to buy a house or property and help them apply for a home loan. 

Similar jobs in this industry

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