Transitioning from an Employed to a Self-Employed Mortgage Advisor

Transitioning from an Employed to a Self-Employed Mortgage Advisor

Transitioning from an employed to a self-employed Mortgage Advisor can seem like a daunting decision, but there are many great benefits to becoming self-employed! There are several things you should consider before and after making the transition to becoming self-employed.

You can increase your earnings – Becoming a self-employed Mortgage Advisor can give you greater control over your income and many see a significant increase in their earnings after becoming self-employed. Your earnings will generally be a direct reflection of the time and work you put in meaning that the harder you work, the more you will be rewarded!

Schedule flexibility – Self-employed individuals often have more autonomy over their working day. You will be able to manage your own diary and plan to work when best suits you. This can be especially beneficial for those who are seeking a greater work/life balance that cannot be satisfied by traditional employed working hours.

Reducing daily expenses – Being self-employed means you are able to claim back expenses that are related to your work and business. This can potentially help to save money and reduce your daily expenses in the long term.

Support from employers – People often assume that if you become self-employed, you will not receive support from your employer. However, many companies do offer support in different ways for example by offering support packages. Support packages can make the transition to self-employment less daunting by providing you with an initial monthly draw whilst you build up your pipeline of business. You will usually pay this money back once you start earning more, although some companies will agree to write off the money if you are achieving your targets.

Is transitioning to self-employed right for you? – To successfully transition from employed to self-employed, you must be certain that it is right for you and that you have the right skills to support you. Consider your personal circumstances and take into account how self-employment might affect your life as well as those around you, such as your family and friends. Though there are many benefits to becoming self-employed, there can be some negative aspects that you will need to consider carefully.

Identify your personal strengths and weaknesses. What skills do you have that will support you as a self-employed Mortgage Advisor? What skills do you need to develop further? Identifying these areas before you decide to become self-employed will be hugely beneficial to ensure a smooth transition.

Lead generation – A key aspect of being a self-employed Mortgage Advisor is being able to generate your own leads. Before making the transition, consider what your strategy will be for attracting new prospective clients.

Social media is a great option for lead generation due to its large user base. You could make use of platforms such as LinkedIn or Facebook to reach potential clients and advertise your services. You could also consider creating your own website and deploying SEO tactics to increase your ranking on search engine, meaning you will be more visible to users searching for a Mortgage Advisor.

For more helpful tips and tactics on generating leads as a Mortgage Advisor, read this blog post on our website!

Finances – Unlike employed Mortgage Advisor roles, income for self-employed roles can take some time to build up as you develop your pipeline. Before you transition from an employed to a self-employed Mortgage Advisor, take a look at your finances. You will need to ensure that you have sufficient funds to support yourself and cover your expenses until your income starts to stabilise.

Create a business plan – Creating a business plan will help you to define your business and working, focus on your market background, and identify how you will make money. Your business plan should be concise, specific, and clearly identify your intentions as a self-employed business. Your business plan should include:

  • A summary of your plan including goals, aspirations, and growth plans.
  • The opportunity open to you for example the market gap you will fill, who your audience is, and what service or product you will be providing.
  • Your strategy for sales and marketing activity and for measuring the success of your efforts.
  • A summary of your business that includes any legal details, where you are based, how you will provide your service, and any future development plans.
  • A detailed financial plan which includes a sales forecast, cash flow statement, income statement, and a balance sheet.

For more information on what to include in your business plan, take a look at this blog post which offers more detail. There is also a wealth of free resources available to you to support you further, such as this article from the Prince’s Trust that offers advice and provides free templates to get you started. The government website also has a helpful article on writing your business plan which includes links to templates and business plan examples.

The key to success – The key to succeeding as a self-employed Mortgage Advisor is staying focused and being persistent, provided you are certain that being self-employed is the right choice for you. You might find the initial transition tricky especially whist you are waiting for your income to stabilise but trust the process. It will likely not be a straightforward journey and you could face some difficult periods, however there will be good things to look forward to.


Transitioning from an employed to a self-employed Mortgage Advisor offers many great benefits including an increased income and greater flexibility. Being well prepared for the transition and staying persistent will ensure you succeed despite any initial difficulties you may face.

To learn more about becoming self-employed and the options open to you, have a read of this guide or this article for more information on what being self-employed involves.

Interested in becoming a self-employed Advisor or looking for your next career move? Take a look at the job opportunities we currently have available on our website!