New Zealand Mortgage Brokers Qualifications
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A mortgage broker offers advice to people looking to buy a house. This includes advising them on the home purchase process and helping them arrange financing for the home purchase. She could give the client information on the various mortgage options available to him and explain the products offered by different banks. To become a mortgage broker in New Zealand, you will have to meet certain requirements.
To start off as a mortgage broker in New Zealand, you need to have a car and a driver’s license, according to Career Services, a New Zealand government affiliate that offers career advice. Further, you must not have any criminal convictions. There are no formal educational requirements to get into this field. However, it is helpful to have some education in the subjects of math, economics, accounting and English. Any college-level course work in property valuation and property management is also useful. Real estate industry experience will likely give you a leg up in the industry.
Professional Association Membership
While it is not mandatory, the New Zealand government career services affiliate recommends that you become a member of the New Zealand Mortgage Brokers Association. This organization holds its membership to some standards in terms of professional and ethical conduct. The NZMBA also offers training and provides representation in the legislative and regulatory processes for its members. As well, you will have a forum to discuss and develop common interests with other members. And the NZMBA also seeks to increase awareness about mortgage brokers among the general public.
Career Services recommends other skills that will be helpful for you to succeed as a mortgage broker. These include an understanding of the mortgage and homebuying process, an awareness of the different mortgage products and payment methods, an understanding of financial statements, math and computer skills. You will have to communicate well with your clients, be a good salesperson and organize yourself well.