What’s the Difference Between Being an Employed vs Self-Employed Mortgage Broker?
One of the biggest career decisions you’ll make as a mortgage broker is choosing whether to be employed or self-employed.
It’s a question I hear all the time from both new and experienced mortgage advisers:
“Which is better for me — being an employed mortgage broker or going self-employed?”
The truth is, there’s no one-size-fits-all answer. The right choice depends on your career goals, your appetite for risk, and how much control you want over your business.
I’ve personally worked as both an employed mortgage broker and a self-employed mortgage broker, so I’ve seen first-hand how each model works. In this blog, I’ll break down the pros and cons of both routes so you can make an informed decision about your career in the mortgage industry.
If you want a deeper dive into the skills you’ll need whichever path you choose, check out my YouTube channel for mortgage brokers, packed with tips on mortgage lead generation, sales training, client retention, and business scaling.
What does being an employed mortgage broker involve?
When you’re an employed mortgage broker or mortgage adviser, you work for a bank, estate agency, or brokerage firm. You’re usually paid a basic salary, and sometimes you earn commission on top for completed deals.
Most of your clients are provided by the business you work for, and the company takes care of compliance, marketing, and admin.
Advantages of being an employed mortgage broker
Financial security – A regular salary gives you predictable income every month, which is especially helpful if you’re just starting out or have family commitments.
Leads provided for you – You don’t have to worry about marketing or lead generation, as most clients come through the company’s existing channels.
Less operational responsibility – Compliance, case tracking, and administration are usually handled by support staff or the company’s systems.
Training and mentoring – Many firms offer structured training, which can help you build confidence and improve your technical knowledge quickly.
If you want to see how I help brokers increase conversions even in employed roles, my video Mortgage SALES Tips That SKYROCKET Income is a must-watch.
Disadvantages of being an employed mortgage broker
Capped earning potential – Your salary and commission structure set a limit on how much you can earn, no matter how hard you work.
Less freedom and flexibility – Your diary, working hours, and sometimes even your advice process are dictated by the company.
Building someone else’s brand – Your efforts contribute to the company’s name and reputation rather than your own personal brand.
Limited client choice – You may have to work with the clients you’re given, even if they’re outside your preferred niche.
What does being a self-employed mortgage broker involve?
A self-employed mortgage broker runs their own business, either as a directly authorised adviser with the FCA or as an appointed representative under a mortgage network.
You’re in control of finding your own clients, marketing your services, and building your personal brand. You also have more freedom in how you work but more responsibility for keeping your business running.
Advantages of being a self-employed mortgage broker
Unlimited income potential – Your earnings depend on your performance. With the right systems, you can significantly out-earn an employed role.
Control over your business – You decide who you work with, how you run your client process, and how you market yourself.
Flexibility – You can set your own working hours and location, which is ideal for work-life balance.
Personal brand building – Every piece of marketing you do strengthens your own name in the industry, giving you long-term business value.
If you’re serious about going self-employed, my Mortgage Marketing That ACTUALLY WORKS video will show you how to consistently generate your own clients without relying on introducers.
Disadvantages of being a self-employed mortgage broker
You must generate your own leads – Without a clear marketing and lead generation strategy, it’s hard to grow consistently.
Income can be unpredictable – You won’t have a guaranteed salary, and early months can be lean while you build your client base.
More responsibility – You’re in charge of compliance, admin, accounts, and business decisions.
Self-discipline required – Without a boss to answer to, you need strong motivation and time management skills to succeed.
How does lead generation differ for employed and self-employed brokers?
This is one of the biggest differences I see when coaching mortgage brokers.
Employed brokers usually have a steady stream of leads from the business, often from estate agents, inbound enquiries, or bank customers. While this is a huge advantage for new advisers, it also means you’re reliant on the company for your pipeline.
Self-employed brokers must create their own lead generation systems. This could mean building a personal brand online, using social media, running paid ads, creating local partnerships, or asking for referrals from past clients. It requires time, effort, and often investment, but once you crack it, you own your client flow.
If you want to start building that pipeline, try my free 30-Day Mortgage Broker Boost, 30 quick-win email lessons to help you grow your business.
Which type of mortgage broker earns more money?
While employed brokers have a safety net, self-employed brokers generally have higher earning potential because they’re not tied to a fixed salary or restricted commission structure.
However, income for self-employed brokers can be unpredictable, especially in the early stages. Many brokers take 6–12 months to build a reliable income stream.
To see how some brokers I’ve coached have scaled rapidly, watch Mortgage Business GROWTH Plan for strategies you can implement right away.
How should you decide between employed vs self-employed mortgage broker roles?
Ask yourself:
Do I want stability or control? If you value predictable income and structured support, employed may be better.
Am I willing to learn marketing and lead generation? If not, self-employment will be challenging.
Do I want to build my own brand? If your long-term vision involves independence and brand recognition, self-employed is the way to go.
If you’re just entering the industry, you’ll also need to pass your CeMAP exams. I recommend Future in Finance for learning CeMAP the smart way, and you can get £50 off with my code ASH50.
My advice for mortgage brokers making this decision
If you’re brand new to the mortgage industry and don’t yet feel confident in generating your own leads, an employed role can be a great training ground.
If you’re confident in your skills or you’re willing to invest time and money into learning marketing and sales, self-employment offers more freedom and higher earning potential in the long run.
Either way, the more you develop your ability to generate and convert mortgage leads, the more control you’ll have over your income. My videos on Mortgage Referrals and sales strategy are a great starting point.
Got a quick question? Leave them in the comments or drop me a message on Instagram.
Want direct, personalised help? My 1:1 coaching programmes help mortgage brokers scale, streamline, and grow without burning out.
For more free training, check out my YouTube channel.
