Broker education is out of date, warn industry insiders
The adequacy of mortgage broker education and qualifications has come under renewed scrutiny, with industry figures highlighting gaps between formal training and the realities of the profession.
Brokers interviewed by Mortgage Introducer revealed concerns about outdated course content, insufficient focus on practical skills, and the need for a unified qualification framework—particularly as the market evolves and client needs become more complex.
Scott Taylor-Barr (pictured top left), principal adviser at Barnsdale Financial Management, described his own educational journey as one of continuous professional development, having completed both the LIBF CeMAP and DipMAP qualifications, and now pursuing the LIBF Award in Protection Advice.
He noted the limitations of existing exams, stating: “It’s often raised how much of the CeMAP and, to a lesser extent, the DipMAP were already out-of-date when I sat them over a decade ago; even then we had long seen the end of Unit Linked Life Plans and With Profits Endowments, yet they featured heavily in the course content.
“The market and product innovation in both mortgage and protection has leaped forward since then and anyone taking the exam today should be tested on things they are most likely to see in the current market, and I hope that the latest exam content has been bought up-to-date to make it useful and relevant for today’s mortgage world.”
Taylor-Barr also questioned the lack of a formalised continuing professional development (CPD) requirement for mortgage advisers, in contrast to those working in wealth management and protection.
“CPD is needed for those working in wealth management and protection, but not in mortgages, unless you are signed up to a separate scheme such as with the LIBF,” he said. “It’s a scenario I have always found perplexing as most of us do make a point of staying up to date with the market and product development.
“It would seem simple to formalise this as part of the CPD framework that exists elsewhere and would be another step in the journey to move mortgage advice towards a more professional future.”
Read more: Certificate in mortgage advice vs. CeMAP: what you need to know
Katrina Horstead (pictured top centre), director at Versed Financial, echoed the view that while technical knowledge is well covered, formal qualifications do not fully prepare brokers for the practical demands of the role.
“The technical knowledge gained through CF6 was invaluable for understanding products and regulations,” she said. “However, real world client interactions quickly highlighted that soft skills, such as managing expectations, building trust, and translating jargon into plain English were just as important, yet not fully addressed in formal training.”
She stressed that education should better address the requirements of diverse client profiles, including self-employed borrowers and those with complex income structures.
Horstead also observed that the pace of regulatory and market change often outstrips the ability of formal qualifications to keep up. “The formal qualifications don’t adapt quickly enough,” she said.
“Most brokers rely on ongoing CPD, industry updates, and lender led training to stay current. This means the quality of knowledge can vary depending on how proactive the individual or firm is.”
While she acknowledged the availability of CPD resources and professional development opportunities, Horstead called for greater consistency and accessibility, particularly for new entrants to the profession.
Meanwhile, Charlotte Allen (pictured top right), chief risk and compliance officer at Key Group, advocated for a single qualification to cover all types of mortgage advice, including later life lending.
“Introducing a single qualification to advise on all types of mortgages, including later life lending, would ensure that those over 55 are offered the right options according to their circumstances and be a step towards removing the lottery of outcomes being determined by what type of adviser a customer happens to engage at outset,” Allen said. “That is fully in line with Consumer Duty obligations and should be considered seriously as part of the FCA’s mortgage market discussion.”
Like Taylor-Barr and Horstead, Allen argued that the current qualifications regime does not reflect the evolving product landscape and customer needs, particularly for older borrowers. She suggested that a unified qualification, alongside improved referral mechanisms, would help break down silos and improve outcomes for clients.
As the mortgage industry continues to adapt to regulatory change, product innovation, and shifting client demographics, brokers are calling for a more modern, practical, and unified approach to education—one that balances technical knowledge with the skills needed to serve clients effectively in a rapidly changing market.
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