The proportion of young people studying to become mortgage brokers has nearly doubled since 2008, according to the Institute of Financial Services.
The past five years have seen a steady rise in young mortgage brokers. Registrations from those aged 30 or under to take the Certificate in Mortgage Advice and Practice represented 46% of all registrations in 2013, compared to only 25% in 2008.
IFS chief executive Anne Kieam said: “The growing number of young people choosing to enter the mortgage advice industry is highly encouraging, and something that stands to benefit both the long-term future of the industry and the consumer seeking advice.
“Since its introduction 15 years ago, CeMAP has played a crucial role in raising standards and offering new opportunities for mortgage practitioners, as well as encouraging new entrants to the industry.”
Coreco adviser Asad Khan, who began studying for CeMAP as an apprentice, said the trend could be down to the fact many brokers left the industry after the credit crunch.
He said in difficult economic times young people appreciated the flexibility the qualification offered:
“Would you rather go to university and pay £9,000 per year or pay at most £1,000 to gain your CeMAP and become a mortgage broker?
“It is a good entry into the financial services. With your CeMAP you can do so many things.”
