From inspired client to professional mortgage adviser
Rachael Thompson (pictured above), of The Smarter Mortgage Lady, embarked on her journey into mortgage advising a decade ago, inspired by the exceptional client service she received.
“I loved the client experience they provided so much,” Thompson says, reflecting on her transition from client to adviser, aiming to replicate that positive impact for others navigating the complex mortgage landscape.
The evolution of mortgage broking
Thompson views the accessibility of quality advice without additional cost as a pivotal advancement in the industry. This development has demystified the home-buying process for many, providing invaluable guidance to individuals purchasing their first home, next home, or investment property, she says.
“It can be daunting and expensive,” she says, highlighting the importance of expert advice in these significant financial decisions.
Addressing industry challenges
The landscape of mortgage advising is changing, with increased compliance leading some seasoned advisers to exit the profession. However, Thompson sees this as an opportunity for renewal, noting the emergence of a "new breed of adviser" ready to navigate these evolving standards while maintaining high-quality client advice.
A career of memorable milestones
Thompson recounts numerous instances where she's helped clients achieve their dream of homeownership against the odds. From navigating less than 20% deposits to addressing unconsented property work, Thompson's career is filled with stories of perseverance and tailored solutions.
“Many of these occasions resonated with my story,” she says, emphasising that an initial “no” doesn't mean the end of the road.
Advice for aspiring mortgage advisers
For those looking to enter the mortgage advising field, Thompson stresses the importance of early education and hands-on experience.
“Get into your study as soon as possible,” she says, suggesting that working alongside experienced advisers or starting as an administrator can offer crucial insights and understanding of the industry’s challenges and rewards.
For other broker stories, click here and here.
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