The Mortgage Mum has partnered with the London Institute of Banking & Finance (LIBF) to launch a new scholarship scheme designed to help people from diverse and underrepresented backgrounds start a career in mortgage advice.

Under the initiative, LIBF – part of the Walbrook Institute London – will fully fund three places on its industry-recognised CeMAP qualification which is the standard entry route into the mortgage profession.

The successful applicants will also receive mentoring and career support from The Mortgage Mum, alongside membership of LIBF for the duration of their studies.

The scheme, which is being supported by the Mortgage Advice Bureau, is expected to open for applications in January 2026, with the first participants beginning their training in spring 2026.

ONE-TO-ONE GUIDANCE

The pilot will initially fund three students, allowing for one-to-one guidance and mentoring but both organisations say the scheme could expand in future if successful. It is aimed at people who might not otherwise have considered or been able to afford a route into the mortgage advice profession.

The idea for the scholarship came after The Mortgage Mum founder and CEO Sarah Tucker (main picture) attended the Association of Mortgage Intermediaries’ annual dinner, where a speaker from the social mobility charity Making the Leap described how the organisation had helped her find work and build a career after struggling to access opportunities.

Following the event, Tucker approached LIBF to explore a partnership to help open the mortgage industry to people from all socio-economic backgrounds.

BARRIERS TO ENTRY

Tucker said: “I am so excited that this vision is coming to life! We are an industry who is passionate about diversity and inclusivity and yet there are huge barriers to entry for many people and communities across the UK, largely due to the costs involved versus the commitments they have in their lives.

“I believe we are overlooking exceptional talent.”

“Some people simply cannot afford to invest in themselves. I believe we are overlooking exceptional talent because of this, and limiting the diversity this industry so desperately needs.

“We know the cost of living is restricting the risks our future entrepreneurs can take, and hopefully this initiative can help to close that gap.”

YOUNG APPEAL

Tucker points out that the average first-time buyer is 33 yet the average age of a mortgage adviser is in the mid 50’s.

She added: “We want our first time buyers to be much younger when they get on the ladder, and this could help to change that too.

“By attracting diverse, younger minds they can appeal to younger buyers and know what the consumer needs, especially with the tech that could be coming!”

LIFE-CHANGING IMPACT

And she said:  “And from a personal perspective, everyone deserves someone to believe in them.

“I’ve seen first-hand the life-changing impact of that. Once someone else believes in you, you start to believe in yourself – and THAT is where magic and innovation lies.

“With the help of LIBF we’re so excited and committed to being the ones who say: ‘We believe in you, we’re going to invest in you and we’re here to cheer you on every step of the way.’”

ADVICE GAP

John Somerville, director of financial services at LIBF, said the partnership would help tackle barriers to entry and improve representation within the mortgage sector.

“We often speak about the advice gap in financial and mortgage advice and the need to attract a wider range of people into the profession so that it’s better representative of the communities we serve. Scholarships like this are just one way that we can make it a reality.

MENTORSHIP AND SUPPORT

“While we work to ensure our qualifications are affordable, we know that if someone is struggling to make ends meet, education can seem like a luxury.

“By removing that obstacle, combined with mentorship and support, together we can help people enter the profession who would not otherwise have been able to do so.

“While we are starting small at first, this new scholarship should make a huge difference to the individuals who are part of it. We are excited to work with The Mortgage Mum as we continue to develop the programme and are in a position to launch applications in early 2026.”

Further details on how to apply, including eligibility and the selection process, will be announced early next year.