Retiring as a Mortgage Broker

Being a mortgage broker can be a rewarding career, but the time will come when it’s time to wind things down. That might be when you’re beyond retirement age (due to increase to 67 in May 2026) but it certainly pays to carefully plan how you’ll one day wind things down.

Here you’ll learn how to plan your retirement as a mortgage broker, ways to continue making money when your advising days are over, and how to keep putting your skillset to good use.

Sell your mortgage book

If you are approaching retirement and are keen to step away from the industry, we’ll gladly consider buying your mortgage book from you. This will give you some extra capital to kickstart your post-working years, on top of any pensions and investments you have.

We pay competitive prices for retiring mortgage advisers’ case books and will negotiate a fee with you after reviewing the clients you have - get in touch to find out more.

Cutting down your commitments

Not all veteran mortgage brokers choose to call time on their advising days completely after passing retirement age, and one of the benefits of a career in this field is its flexibility.

If, like the majority of UK mortgage brokers, you are self-employed, you should find yourself in a position to restructure and cut down your work commitments in later life, if you want the option to continue dabbling in mortgage advice on a reduced scale.

This might involve working fewer hours in a more specialised area of mortgage advice so you can increase your fees, or outsourcing leads you’d usually convert yourself.

If you are stepping back from a senior management or leadership role at a mortgage brokerage, be sure to have a succession plan in place to train up your replacement, and seek professional guidance from a corporate finance adviser if you’re selling up.

Taking on a consultation role

The knowledge and experience you have honed throughout your career as a mortgage broker will be of great value to other brokerages, mortgage clubs, networks and other financial businesses long after you’ve closed your final mortgage agreement.

Some will be actively looking for seasoned industry veterans to provide consultancy services to their firm or brokerage, which may include offering input on growth strategy, adviser training, identifying future challenges or one-to-one consultation sessions.

These kinds of roles are often filled on a short-term contract basis or on-demand for an hourly or daily fee, so it’s worth putting the word out among your industry contracts if this is something you’d be interested in pursuing when you’re all done with your clients.

Mentoring budding mortgage advisers

Along similar lines to pursuing consultation roles in the mortgage industry, you could always consider mentoring opportunities as a way to put your knowledge and experience to use.

Coaching a trainee mortgage adviser and imparting your wisdom on them to get them onto the right track in the early stage of their career can be rewarding and is a way to maintain your presence in the industry, if that’s something that’s important to you after you retire, but it isn’t always financially rewarding.

Mentoring roles are often voluntary and the subject of paid ones is a topic of polarising debate, but these positions can be mutually beneficial for retiring brokers as industry newcomers often have things they can teach you in return about an ever-changing market.

Explore pastures new

By the time you retire, you will ideally have taken care of any mortgages and other big financial commitments of your own, which gives you the freedom to pursue new ventures.

If your pension and the sale of your mortgage book or business has given you a decent headstart in your post-advising era, why not pursue a new venture in a field outside of the mortgage industry, one you have always dreamed of trying your hand at?

Perhaps you have a hobby that could generate extra retirement income for you on the side, like painting or writing, or now have the free time to take classes in one of these subjects?

Oh, and don’t forget to relax a bit and enjoy plenty of downtime too.