Just had to share an experience following the introductory post. I referred to the question of whether you call yourself a mortgage adviser, advisor, consultant, broker or intermediaries ‘ or indeed something else.

Well, one of our team had the whole question ’sorted’ in his local Bank recently. He was standing at the help counter waiting to see someone. Just over to one side was an area with two people sitting facing a desk where a bank ‘Mortgage Consultant’ was seated. In his words, he couldn’t really help but overhear the conversation, and must confess that after a couple of exchanges he became curious and did strain to listen.

As the clients asked a range of questions and sought the Consultant’s advice it seemed that for almost every question the customers asked, the bank ‘Consultant’ said that she (sorry ladies, but it just so happened that she was a ’she’) apologised to the couple and said that she had to refer the question, or check the answer with a supervisor. He was pretty aghast, and curious at how anyone who had passed CeMAP wouldn’t know the answer to some the things she’d been asked.

So he deliberately hung around until after she’d finished dealing with her customers and then politely intercepted her, and asked her if she was qualified as he’d been told that he should only speak get mortgage advice from mortgage professionals who had passed their qualifications. She looked a bit surprised, but then cheerily told him that:

“No, I don’t have CeMAP. I’m just a Mortgage Consultant. I only give information on our products. I don’t give advice. If you want advice you’ll need to speak to one of our Mortgage Advisers.”

Go figure!

So, if you advise, consult on, broker, mediate on or place mortgages, what do YOU call yourself?

I’ve just got back from the USA where credit scoring is everything. It amazed me that most people there seem fully aware of their own credit rating - it’s a subject of everyday conversation. By contrast, many Brits don’t really have a clue if they have adverse information on their credit file and are genuinely surprised (and often indignant) when they are declined for a loan.

In an interesting article Searching Questions for Borrowers Cate Wilson of PA Features shows how even internet savvy borrowers who feel they are doing the right thing by shopping around online can be unwittingly tainting their credit profiles.

Perhaps those sites that encourage borrowers to apply online without professional advice say somewhere: “Warning: Mortgage Hunting Online Can Seriously Damage Your Credit Rating.”