Mortgage Adviser Apprenticeship

The Mortgage Adviser apprenticeship offers an ideal entry point for a career in the mortgage advice sector or for potential progression into other Financial Services roles and can attract candidates from various backgrounds with differing skills and experience.

Mortgage advice is provided by a number of different types of businesses; direct to consumer through banks & building societies and also via mortgage intermediaries in the form of independent brokers or advisers linked to an Estate Agent or New Homes Developer. Due to changes in regulation, including the ‘Mortgage Market Review’, the role of the Mortgage Adviser has become more technical, with increased regulatory requirements and has led to an increase in demand for qualified practitioners in the sector.

Information for Applicants

What knowledge and skills are covered?

Industry and Company Understanding
A broad awareness of the structure of the Financial Services industry and an in-depth knowledge of the structure of their own company; the purpose of the role in which they work and how this interacts with key roles associated with the mortgage advice process e.g. Customer Advisers, Underwriters, Product Providers and Compliance.

Regulatory, Legal and Compliance
Understands the Financial Services legal and regulatory framework, corporate risk/governance frameworks and can identify how the relevant parts of these frameworks apply to their role. This will include what constitutes appropriate market, business and personal conduct.

Products and services
Understands the purpose and technical content of the products advised (licensed) by the role, including the customer need that is met by the product, including the cost/benefit to the customer

Systems and processes
Understands the systems and tools required to process a mortgage, and to successfully deliver the role outcomes. Has awareness of how these fit within the wider company & industry. Demonstrates an understanding of colleague’s associated roles and how these interact, in order to fulfil a fully compliant mortgage advice process.

Customer Service
Knows the principles/tools of excellent customer service and company standards required in the role in order to fulfil customer needs.

Commercial awareness
Has an awareness of the wider mortgage sector, its customers, competitors and suppliers and the need for efficient and cost effective practices for the company to be successful. Understands the local market in which they operate, how to keep up to date with industry developments and the need to build a network of professional contacts to support the development of their business.

What award will I achieve?

London Institute of Banking and Finance – Certificate in Mortgage Advice and Practice

Level 3 Acknowledgement Apprenticeship framework certificate

What are the entry requirements?

Individual employers will set the selection criteria for their Apprenticeships. Most candidates will have Level 2 Maths and English, ideally as part of 5 GCSE A-C grades. Other relevant or prior experience may also be considered as an alternative. Employers who recruit candidates without English or Maths at Grade C or above must ensure that the candidate achieves this standard prior to the completion of the Apprenticeship

How often do I have to attend college?

Training will take place in workplace with no college attendance required.

How will I be assessed?

Assessments will be carried out by the Line Manager and the assessor. Regular monthly meetings to discuss progress with the apprentice, provide feedback and guidance. Help understand the learning journey; ensuring opportunities and process working and gaps are filled.

CeMAP certificate will be done through online exams

Final Assessment:

The End point Assessment will be measured using 2 assessment methods which together will provide the evidence through synoptic assessment.

  1. Video recorded role play scenario
  2. ii) A portfolio of work (supported by reflective discussion) completed during the end point assessment stage.

Reflective discussion will be used to provide further supportive evidence within the portfolio and will take the form of a structured interview with the Training Provider to explore the content of the portfolio and the learner journey in more detail.

What can I do next?

Successful candidates can progress onto further higher level qualifications

Information for Employers

How is my business going to benefit from an Apprentice?

How is my business going to benefit from a Financial Services Administrator Apprentice?

Regardless of whether you are large or small employer, an Apprentice will benefit your business in several ways:

They will have been trained and assessed against a wide range of specially targeted technical skills that can help you maintain an effective business; and be able to deal a wide range of routine and non-routine problems, completing a professionally recognised qualification.

Attention will have been also paid to developing their behavioural, thinking, team working and communication skills to ensure that the apprentice is able to contribute effectively in the modern workplace.

Once they have started their programme, the apprentice will require mentoring and help in satisfying the requirements for endpoint assessment. This will involve: assisting the apprentice in assembling the portfolio to ensure that it meets the entire standard and is to a good quality.

The final assessment process which is both independent and broad based will ensure that only apprentices that have shown genuine learning and competence across all areas, both technical and behavioural, will have been successful. They will also be graded on their performance adding to the motivation level and will encourage the apprentices to strive for excellence.

What we offer as a company?

  • Monthly face to face visits
  • Online knowledge with access to videos to support
  • Assessors with over 30 years of national and international industry experience
  • Enrichment days and college days to enhance skills if needed
  • Digital portfolios
  • Interview techniques
  • Functional skills teachers based within the college

What will this cost my business?

Since April 2017 the way that government funds apprenticeships in England has changed. All businesses operating within the UK with a wage bill of over £3 million are required to contribute to the apprenticeship levy monthly via HMRC.

  • If the levy applies to your business you will be required to pay 0.5% of your entire wage bill into the levy. This will be offset against a levy allowance worth £15,000 for each tax year
  • You will only be able to use your levy payment for government backed apprenticeships through providers who are registered on the Register of Apprenticeship Training Providers
  • Levy payments will expire after 18 months.

From April 2017 all existing apprenticeship frameworks and new apprenticeship standards (often referred to as trailblazer standards) will be allocated to Government funding bands.

Funding bands determine the maximum amount of money that Government will contribute for the training delivery and end-point assessment of each apprenticeship. All approved apprenticeship standards have already been allocated to funding bandings with maximum funding caps.

If you take on an apprentice who is between 16 and 18 years old at the start of their apprenticeship, you will receive a payment to help meet the extra costs of employing them. This will be paid to you through the training provider in two £500 instalments at 3 months and 12 months  if the apprentice continues in learning beyond this point.

Non-levy paying employers will need to contribute 10% of the maximum funding band as published by the Skills Funding Agency for the delivery of training and assessment for their apprenticeship. Levy paying employers will pay the full cost of the agreed funding band using their Digital Apprenticeship account. Where there are no longer funds in this digital account the Government will co-invest 90% of the funding with the levy paying employer being the asked to contribute the remaining 10% on a monthly basis.

Levy paying employers can estimate their funding contributions through the use of the free Funding Apprenticeship Systems calculating tool.

The agreed funds will be taken from the employer’s digital account to pay the training provider, up to a maximum amount of funding allocated by Government to that particular apprenticeship.

For non-levy paying employers the Digital Apprenticeship Service will not be available until at least 2018. They will need to discuss and agree a price with their training provider.

Does the apprentice have to attend college?

Training will take place in workplace with no college attendance required.

How is the apprentice assessed?

Assessments will be carried out by the Line Manager and the assessor. Regular monthly meetings to discuss progress with the apprentice, provide feedback and guidance. Help understand the learning journey; ensuring opportunities and process working and gaps are filled.

CeMAP certificate will be done through online exams

Final Assessment:

The End point Assessment will be measured using 2 assessment methods which together will provide the evidence through synoptic assessment.

  1. Video recorded role play scenario
  2. ii) A portfolio of work (supported by reflective discussion) completed during the end point assessment stage.

Reflective discussion will be used to provide further supportive evidence within the portfolio and will take the form of a structured interview with the Training Provider to explore the content of the portfolio and the learner journey in more detail.

What about support in the workplace?

Skilled and knowledgeable staff must be available to support the apprentice as they complete work-based tasks.

Why should I choose Colchester Institute to support my recruitment and retention?

Apprenticeships – What we can offer

Colchester Institute is the largest college provider of apprenticeships in Greater Essex. We are expert at connecting the right people, to the right training, to the right business and when it comes to Apprenticeships, our Apprenticeship Advisors can support your business every step of the way.

As part of our service we can support your business with:

  • Advertising the Apprenticeship vacancy
  • Manage the applications received in line with your individual requirements
  • Match prospective candidates already known to us
  • Conduct initial pre-screening for candidates
  • Carry out visits to your premises alongside regular reviews to support you, your staff and your apprentice
  • Advice on any grants or funding where available

Our team will provide:

  • A fee free recruitment service.
  • Personal 1:1 Apprenticeship Levy advice and guidance.
  • A dedicated Account Manager.
  • Industry experienced, professional, technical tutors.
  • Bespoke programmes available upon request.
  • An Essex priority skills focus.
  • Free employer events.

Apprenticeship Reform Events

Mortgage Adviser Apprenticeship
LevelLevel 3
LocationColchester
Duration18 – 24 months however if the applicant has completed a level 2 qualification this is likely to be 18 months.
CampusColchester Institute
Start DateStarting employment as an apprentice can occur throughout the year however the start-date for attending college for training, where required, will be communicated post-employment and sign-up
Apprenticeship Funding Band (Levy paying employers)£9,000
Employer Contribution Fee (Non-levy paying employers)£900
What will this cost my Business?

Non-levy paying employers will need to contribute 10% of the maximum funding band as published by the Skills Funding Agency for the delivery of training and assessment for their apprenticeship. Levy paying employers will pay the full cost of the agreed funding band using their Digital Apprenticeship account.

Apprenticeship Funding Bands

Apprenticeship Funding Bands
Employers with less than 50 employees who are recruiting an apprentice aged 16-18 years old will not be required to pay the contribution fee.
Any associated cost to the individual will be made clear at the interview.

Disclaimer

All Fees and prices shown on the website are for courses starting in the 2018-19 academic year unless stated otherwise, and are correct at the time of entering/printing information, however these may be subject to change. The College cannot accept legal or financial liability as a result of any such changes.

The course information describes programmes offered by Colchester Institute. The College takes all reasonable steps to provide courses as described, but cannot guarantee provision. The information is for guidance and does not form any part of a contract.

The College reserves the right to update and amend information as and when necessary. Colchester Institute will do its best to provide the courses shown, but may have to modify or withdraw a course depending on customer demand and other factors.