Should I join a large mortgage firm or start my own brokerage?

If you are a mortgage broker deciding between joining a large mortgage firm or starting your own mortgage brokerage, you are not alone. This is one of the most important career decisions in the mortgage industry, and it can shape your income, work-life balance, and professional growth for years to come.

Both paths have strong advantages and potential drawbacks, and the right choice depends on your experience level, risk tolerance, and long-term goals. In this guide, we will explore the pros and cons of each route, answer the most common questions mortgage brokers ask, and give you resources to help you choose the right path for your career.

Before we dive in, if you want in-depth strategies on mortgage lead generation, sales tips, and client retention, check out my YouTube channel here for free, practical videos designed specifically for UK mortgage brokers.

What Are the Benefits of Joining a Large Mortgage Firm as a Broker?

For many mortgage brokers, especially those starting out, joining a large mortgage firm offers structure, training, and stability.

Key benefits include:

Brand recognition and trust – Large firms have an established reputation, which can make it easier to win clients.
Pre-qualified mortgage leads – Many companies provide a steady flow of leads so you can focus on advising instead of prospecting.
Structured training and mentoring – Being part of a firm gives you access to experienced managers and support teams.
Compliance handled for you – The firm takes care of FCA compliance, freeing you to focus on clients.
Team environment – Learn from other mortgage brokers and share ideas in a collaborative space.

If you are considering this route, you might also want to watch my video on Mortgage Marketing That ACTUALLY Works to see how you can still build your own client base even when working within a big firm.

What Are the Disadvantages of Working for a Large Mortgage Brokerage?

While large firms offer security, they also have some restrictions.

Lower commission splits – You will earn a smaller percentage per case than you would running your own business.
Less control over your diary – You may need to work set hours or meet fixed targets.
Limited personal branding – The company’s brand takes priority, which can slow the growth of your own profile.
Lead competition – You may not control how many or what quality leads you receive.

If you want to see how to break free from relying on company leads, check out my video on Getting More Mortgage Referrals Than You Can Handle.

What Are the Advantages of Starting Your Own Mortgage Brokerage?

Running your own mortgage brokerage gives you total control over how you operate and grow your business.

Key benefits include:

Higher earning potential – Keep more of the commission from every mortgage and protection sale.
Build your own brand – Create a business identity that reflects your values and unique selling points.
Flexible working – Choose your hours, clients, and work location.
Specialise in a niche – Focus on areas like buy-to-let, self-employed clients, or first-time buyers.
Business asset – Over time, your brokerage becomes a valuable business that you can sell or pass on.

If you are interested in scaling an independent brokerage, my video on Mortgage Business Growth Plans walks you through the steps to build a sustainable business.

What Are the Challenges of Running Your Own Mortgage Broker Business?

Independence brings freedom, but also responsibility.

Lead generation is on you – Without a firm supplying enquiries, you must market yourself consistently.
Compliance is your responsibility – You must ensure your advice and processes meet FCA standards.
Initial investment – Technology, marketing, and compliance support require capital.
Income variability – Without a base salary, earnings can fluctuate with the market.

To avoid common pitfalls, check out my guide on Mortgage Sales Tips That Skyrocket Income.

How Can a Mortgage Broker Decide Between a Large Firm and Independence?

When making this decision, ask yourself:

Do I prefer stability or flexibility?
Large firms offer a safety net, while independence offers freedom.

Am I confident in marketing and generating my own leads?
If yes, independence could be lucrative.

Do I want to build my personal mortgage broker brand?
Independence makes this easier.

Am I ready to handle financial uncertainty?
Self-employment can be highly rewarding, but comes with risk.

Can You Start in a Large Mortgage Firm and Go Independent Later?

Absolutely. Many brokers start in a large firm to gain experience, then launch their own brokerage once they have a client base and confidence.
This hybrid approach lets you enjoy the stability of a salary early on and transition to higher earnings later.

If you are planning a career move like this, my 30-Day Mortgage Broker Boost email series is packed with actionable marketing tips to help you attract and convert more leads.

Should You Be an Appointed Representative or Go Directly Authorised?

If you choose to start your own brokerage, you will need to decide whether to operate as an Appointed Representative under a network or go Directly Authorised with the FCA.

AR model – Compliance is managed for you, but you will share commission and pay network fees.
DA model – You keep more commission and have total control, but you handle compliance yourself.

If you want to explore these options in more depth, we cover them regularly on my Instagram — feel free to send me a message there with your questions.

Final Thoughts: Which Path Should a Mortgage Broker Choose?

There is no one-size-fits-all answer.

If you value security, training, and ready-made leads, joining a large mortgage firm could be best.
If you want freedom, control, and maximum earning potential, starting your own brokerage may be the right move.

Either way, your success will depend on your ability to generate consistent leads, build strong client relationships, and deliver high-quality advice.

If you are just getting started in the industry and need to pass your CeMAP exams, I recommend Future in Finance. Use my code ASH50 for £50 off any course.

Pro tip: Whichever path you choose, invest in your marketing skills and personal brand. The brokers who succeed long-term are those who can consistently attract the right clients, regardless of market conditions. If you are ready to take that seriously, you can work with me 1:1 here to scale, streamline, and grow your mortgage business.