The National Consumer Credit Protection Act 2009 (the National Credit Act) places responsibility on credit license holders to ensure that their representatives are adequately trained, as set out in the ASIC Regulatory Guide 206 (RG 206). Kaplan provides a range courses to in for Credit and Mortgage Brokers.
How can I become a mortgage broker in Australia?
To become a mortgage broker in Australia, the minimum education requirement is the Certificate IV in Finance and Mortgage Broking (FNS40815). This is stipulated by the Australian Securities and Investments Commission’s Regulatory Guide (RG 206). Obtaining this qualification is generally the first step to becoming a mortgage broker.
You may also choose to join a professional association. The minimum education requirement for the Finance Brokers Association of Australia (FBAA) is a Certificate IV in Finance and Mortgage Broking (FNS40815). To become a member of the Mortgage and Finance Association of Australia (MFAA), the minimum education requirement is the Diploma of Finance and Mortgage Broking Management (FNS50315).
Once you have obtained either your Certificate IV in Finance and Mortgage Broking (FNS40815) or Diploma of Finance and Mortgage Broking Management (FNS50315), you can apply for an Australian Credit Licence (ACL) or become a credit representative. If you do not have two years’ experience within the financial services sector, you will start your career as a credit representative under a registered Australian Credit Licence (ACL).
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