Mortgage adviser

What does a mortgage advisor do – tasks and work environment

A mortgage advisor primarily guides individuals and companies through the process of applying for and managing mortgages. The role involves analyzing clients' financial situations, providing personalized advice on loan terms, interest rates, and amortization, as well as explaining various financial products related to home loans. Mortgage advisors are also responsible for collecting and reviewing necessary documents, conducting credit assessments, and collaborating with other bank departments. The work is almost exclusively performed in an office environment, often at bank branches or via digital meetings, characterized by a fast pace, customer contact, and high demands for accuracy and confidentiality.

Salary development over time

The salary for mortgage advisors has shown a clear positive trend over the past three years. In 2022, the average salary was 42,500 SEK, followed by an increase to 44 200 SEK in 2023. Over the past year, the salary has continued to rise to the current level of 47 400 SEK, representing a total increase of approximately 11.5% during this period. This development reflects increased demand for qualified banking professionals and a generally higher salary spiral within the finance sector. Factors such as digitalization, increased regulatory requirements, and changing customer behaviors contribute to the higher valuation of specialist skills, which is reflected in salary development. Meanwhile, the job market for mortgage advisors has been relatively stable, benefiting experienced advisors' salary growth.

Mortgage advisor salary – complete overview

• Average salary: 47 400 SEK/month
• Lowest salary: 40,700 SEK/month
• Highest salary: 59,900 SEK/month
• Hourly wage (average): 285 SEK/hour
• Women: 43 600 SEK/month
• Men: 52 800 SEK/month
• Women's salary as % of men's: 83%
• Regional differences: Larger cities tend to offer slightly higher salaries

Education and qualifications

The path to becoming a mortgage advisor usually involves a post-secondary education in economics, finance, or banking and insurance. Many employers require relevant university-level education, but internal trainee programs or additional certifications are also common. Practical experience from the banking sector or customer service can be advantageous, and some banks offer opportunities for further internal training.

• Economic post-secondary education: Usually 2–3 years
• Certifications in mortgage advising: For example, Swedsec license
• Trainee programs at banks: 6–12 months
• Practical experience: Meritorious, especially from customer service or banking
• Online courses and self-study: Supplementary deepening in credit assessment and regulations

Common benefits and compensation

Mortgage advisors often have access to a wide range of benefits beyond the base salary. Common examples include occupational pension, generous wellness allowances, bonus systems linked to performance, and opportunities for skill development. Other advantages may include extra vacation days, employee discounts on bank services, insurance solutions, and flexible working hours.

Competition and challenges

The job market for mortgage advisors is characterized by a balance between supply and demand, with approximately 550 available positions in the banking sector. Competition for the most attractive roles can be significant, especially in larger cities where salaries and career opportunities are higher. Challenges in the profession often involve staying updated on changing regulations, digital tools, and customer expectations for quick, digital solutions. Additionally, the role demands high levels of integrity and responsibility, as advisors handle sensitive financial information.

Tips for aspiring mortgage advisors

To succeed as a mortgage advisor, it is important to combine analytical skills with a genuine interest in customer needs. Clear communication and pedagogical ability are essential, as complex financial products need to be explained understandably. Accuracy and integrity are crucial, as the work involves handling sensitive financial data. Being flexible and quick to adapt to new digital tools provides a competitive edge, as does working in a structured manner under time pressure. Good teamwork skills are also valuable, since the role often involves contact with other departments. Finally, curiosity and a willingness to continuously learn new regulations and market trends benefit those who want to develop in the profession.

Key facts about mortgage advisors

• Education level: Post-secondary education of 2–3 years is most common
• Work environment: Office-based, often in a high-paced setting with much customer contact
• Employment type: Full-time permanent employment dominates
• Demand: 550 available jobs within the banking sector
• Special skills: Credit assessment, mortgage products, and regulatory requirements

Career paths and future prospects

After three to five years as a mortgage advisor, it is common to move into specialist roles, such as credit assessment, risk analysis, or as a team leader at a bank branch. Some choose to deepen their expertise in private banking or switch to roles within real estate brokerage and financial advisory. The employment agency's forecast shows that opportunities are moderate and demand for bank employees is expected to be unchanged over the next five years. The recruitment situation is considered balanced, meaning there is neither a shortage nor an oversupply of competent mortgage advisors. However, digitalization and changing customer behaviors may influence future skill requirements and create new career paths within the finance sector.

Frequently asked questions about mortgage advisors

• What does a mortgage advisor earn?
  - The average salary for a mortgage advisor is 47 400 SEK per month, but this varies based on experience, education, and location.
• What education is required to become a mortgage advisor?
  - A post-secondary education in economics or finance, often 2–3 years, is most common. Certifications and internships are advantageous.
• Are there gender differences in salary for mortgage advisors?
  - Yes, women earn on average 83% of men's salaries in the profession.
• What is the job market like for mortgage advisors?
  - There are 550 available positions and the job market is considered balanced with moderate opportunities.
• What career paths are available for mortgage advisors?
  - After a few years, one can move into specialist roles within credit, become a team leader, or work in private banking.
• What are the duties of a mortgage advisor?
  - Advising on mortgages, credit assessments, client meetings, document handling, and collaboration with other bank departments.
• What benefits are usually offered?
  - Common benefits include occupational pension, wellness allowances, bonuses, employee discounts, and opportunities for skill development.