Mortgage Broker Kaitakawaenga Pūtea Taurewa

Mortgage brokers offer advice to people wanting to buy a house or property, and find mortgage options and finance for clients.

To practise as a mortgage broker you must be listed on the Financial Service Providers Register.

Mortgage brokers may do some or all of the following:

  • assess whether a client is eligible to borrow money for a house/property
  • explain mortgage options and bank offers to the client
  • advise on the structure of mortgages and loans
  • calculate mortgage repayments
  • explain the home-buying process to the client
  • liaise with the bank on the client's behalf
  • liaise with other parties, such as lawyers, valuers and real estate agents, on the client's behalf
  • complete application forms for clients
  • organise building reports and home valuations
  • organise insurance.

Useful Experience

Relevant work experience, such as work in real estate, is important for mortgage brokers. Other useful experience includes:

  • work in finance, accounting or banking (particularly in lending)
  • sales experience
  • valuation and property management work
  • managing others.

Personal Qualities

Mortgage brokers need to be:

  • accurate
  • good at maths
  • motivated
  • unbiased and honest
  • good communicators
  • good at persuading people
  • well organised, with good time management skills
  • able to work to deadlines and under pressure
  • able to keep information private.

Useful Experience

Relevant work experience, such as work in real estate, is important for mortgage brokers. Other useful experience includes:

  • work in finance, accounting or banking (particularly in lending)
  • sales experience
  • valuation and property management work
  • managing others.

Subject Recommendations

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

Mortgage Brokers can earn around $50K-$84K per year per year.

Experienced mortgage brokers can buy their own franchise or move into property management.

Mortgage Broker

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