The first cohort of mortgage adviser students will join the NMBA’s existing financial adviser and paraplanner apprenticeship schemes in the autumn.
The mortgage adviser apprenticeship programme will take apprentices fifteen months to complete and includes the London Institute of Banking and Finance (LIBF) CeMAP Qualification and training on additional soft skills required within the apprenticeship standard.
NMBA joint managing director Janice Laing said: “There is a serious need for new blood in the mortgage advice sector.
“The Association of Mortgage Intermediaries (AMI) estimates that the number of pure mortgage advisers dropped to around 12,000 in 2016, from approximately 30,000 ten years previously; a significant reduction in such a vital business area.
“The NMBA, The SimplyBiz Group and the wider industry are wholly committed to bringing new financial services professionals on board across the industry.”
Martin Reynolds, chief executive of SimplyBiz Mortgages and chairman of AMI, (pictured) added it was essential that a robust advice process remained at the heart of mortgage sales.
“The combination of technical skills and qualifications with vital soft skills included in the programme mean that these mortgage advisers of the future will enter the sector with all they need to trade compliantly and successfully,” he said.