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If you’re a mortgage broker, you’re in the fortuitous position of having a flexible career which supports both employed and self-employed individuals. The tough part is deciding which path is the right one for your personal career goals and financial aspirations.
If you’re considering the self-employed route, we look at the pros and cons of being a self-employed mortgage broker, and how to get started.
Should you become a self-employed mortgage broker?
Self-employment is actually the most common employment-style for mortgage brokers, but many brokerships offer full-time employed roles too. However, which form of employment suits you best will depend on your lifestyle preferences, financial goals, and how ambitious you are.
If you have a strong desire to maximise your income and enjoy a more flexible approach to working hours and structures, becoming a self-employed broker is likely to suit you better. There are typically fewer fully employed mortgage broker positions available, but these tend to offer greater security and opportunities to advance in your career.
Key considerations
When choosing to become a self-employed mortgage broker, it’s a good idea to consider the advantages and disadvantages of each working style.
This table helps you to easily compare the key considerations of each career path. Whether or not you will consider these factors to be advantages or disadvantages will depend on your preference:
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Self-employed mortgage broker |
Employed mortgage broker |
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Higher earning potential as you keep most or all of your commission |
Commission is typically split with the brokerage, and you may have a maximum possible capped commission per annum |
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No guaranteed income to cover low seasons |
Baseline salary often received each month, although some employers have a commission only structure |
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More choice of flexible working hours to suit your lifestyle |
Typically a set working pattern of 40 hours |
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Work remotely wherever you choose |
Some brokerages insist upon a certain number of hours per week in their offices |
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Freedom to acquire your own leads, but onus is on you to find them or buy them from an introducer/provider |
Brokerages tend to source the majority of leads for you |
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Business expenses, such as licensing and marketing are payable by the individual |
Employers typically cover all business costs on your behalf |
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Career development is your own responsibility, so you’ll need to ensure you maintain your CPD requirements and organise your own training |
Employers typically provide career support such as training and professional development to advance your career |
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You can choose the types of mortgage support you provide, so long as you have the relevant experience to do so |
You typically have no control over which mortgage products the firm covers, which can limit your earning potential and experience |
How to go self-employed as a mortgage broker
If you decide that self-employment is the right route for you, it’s important to put together a business plan covering the following point:
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Detailed career plan - covering aspirations and goals, including any growth and expansion plans
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Market analysis - Which plans do you plan to assist? Are there any gaps in the market that you can take advantage of?
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Marketing and lead generation - How will you acquire clients, will you pay an introducer or lead generation company to provide leads for you? What is your digital strategy? It’s a good idea to develop a network of lead generators to ensure you always have a good pool of clients. Industry events and professional organisations are good places to grow your network - find out more about how we can supply you with leads here
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Financial planning - A detailed financial forecast for at least your first year of operation should be drawn up and you’ll need to determine how much start up capital you need to get you through the first few months
Last updated 8 August 2025