We have spent time collating some research in our industry, compiling the average salary of various mortgage roles in different areas of the UK. The first role we explored is a ‘Mortgage Underwriter’- the average salary of this position in the UK is reported to be around £39,000. However, this varies from region to region. In Yorkshire, the salary for these employees is typically around £24,500, not including commission or bonuses. This vastly differs with the average salary of this role based in London, which falls between £38k and £40k. However, in other areas of southern England, such as Bournemouth and Portsmouth, the annual salary matches Yorkshire, with an average between £23k and £26k. In the midlands, throughout cities such as Birmingham and Leicester, the average salary is slightly more, at £30,000.
The next role we researched is a Mortgage Broker/Advisor position around England. In areas such as Leeds and Sheffield, Yorkshire appears to have a more parallel salary with other areas, averaging at £45,000. Areas in the midlands such as Birmingham similarly averages out between £45,000 and £47,000 for a Mortgage Broker position. Bournemouth and surrounding cities by the south coast have an average basic salary for a Mortgage Advisor role at around £48,000. The salary for these positions are more comparable to London’s average basic, typically paying their staff between £47,000 and £50,000.
We also looked at Mortgage Administrator/Processor roles, where cities in Yorkshire had an average basic salary of approximately £19,000 per annum. Equally, the salary in the midlands, such as Birmingham, averages between £20,000 and £21,000 per year. In London, the average salary appears to be higher again, at around £25,000- £27,000 for Mortgage Admin and Processor roles. However, the other areas in the south we researched, such as Bournemouth and Southampton, had an average salary between £20,000 and £21,0000, matching the midlands.
The final role in the mortgage industry we explored is a Protection Advisor. In London, we found the average salary for this role was at £30,000. The salary of Northern-based cities falls below this, with Leeds having an average of £25,000. Our findings for the yearly earnings on the south coast were similar, with an average salary between £24,000 and £26,000. Similarly, in the midlands, cities such as Birmingham have an average salary for a Mortgage & Protection Advisor between £25k and £27k.