Mortgage brokers’ insurance

Why do mortgage brokers need professional indemnity insurance?

You know how volatile the mortgage market can be. You make recommendations to your clients based on the information you have at the time. But anything can happen.

Interest rates could suddenly lower, making your client think they got a bad deal. Or a new product with better terms could be released the day after your client completes. Or your client’s mortgage offer could be revoked because the lender changed their criteria.

Any of these situations could lead to your client losing money. Which they could blame you for.

Mortgage brokers’ professional indemnity insurance has your back whenever a client claims against you. Whether you were at fault or not.

It covers your legal costs and pays any compensation you might owe. Giving you peace of mind that whatever comes your way, you’ll be protected.

How much does mortgage broker insurance cost?

The cost of your policy will depend on what you do and how much of it you do.

Insurers see certain business activities as more or less risky than others. The riskier the activity, the higher your cost will be, naturally. And it works the other way round.

When you get a quote, you’ll be asked what kind of activities you do as a mortgage broker. This will then be reflected in your price.

Other factors like the size of your business, how many locations you have, and your annual turnover will affect how much you pay too.

Looking for an exact price? Getting an online quote only takes a couple of minutes and will give you everything you need.

Do I need any qualifications to get insurance?

Insurers will require that you’re regulated by the FCA. And that you only operate within the UK.

Other than that, you’ll need to demonstrate that you have one of the following qualifications: CeMAP, DipFA, Certificate in Mortgage Advice (CII), or Certificate in Regulated Equity Release (LIBF or CII).

Why choose us?

Because we specialise in professional indemnity insurance. And we know how to get the right insurance for your business, quickly and easily.

Our online quoting process is simple. Plus, it only takes a couple of minutes out of your day to complete. We’ve also got expert advisers waiting to take your call, if you need them.

Looking for more reasons why you should choose us?

• Policy documents delivered to your inbox.
• No hidden costs or admin fees.
• Interest-free monthly payments.
• No insurance jargon – only plain English.
• No call centre or phone menu – just friendly, helpful humans.

Want a second opinion? Check out our customer feedback. We think it speaks for itself.