A bursary program is being launched to support people from underrepresented groups to start a career in mortgage advice.
It is being developed by mortgage broker The Mortgage Mum, in partnership with financial education provider LIBF, in an effort to remove the barriers for talented individuals who do not have the financial resources to fund an education in a mortgage career.
The grant will fully fund three places in LIBF’s industry-leading CeMAP programme.
The selected candidates will also receive mentoring and career support from The Mortgage Mum, supported by Mortgage Advice Bureau, which recently secured an investment in the business.
They also receive LIBF membership for the duration of their studies. The program will initially start small, so that applicants can receive individual, tailored support. However, there is potential to grow if it is successful.
It is for anyone who has the ambitions and potential, but cannot afford to invest in themselves financially.
The Mortgage Mum is an all-female team of advisers based in the UK who are committed to educating Britain about all things finance and providing a service that delivers empathy, trust and deep connections with their clients. Sarah Tucker, founder and CEO of the company, set up The Mortgage Mum after qualifying as a mortgage broker in 2015, when her daughter was just 18 months old.
Tucker explained that she came up with the idea for the fair after being “deeply affected” by a female speaker at an annual industry dinner. The woman was promoting the work of Making the Leap, a social mobility charity.
Over the past thirty years it has helped 78,000 young people from disadvantaged backgrounds by offering skills training, school programs and mentoring programmes, and working with companies to organize business workshops.
The young woman explained that without the help of Making The Leap, she saw no way out of work. However, with their support, she found her way, found a job and is now thriving.
Tucker said: “I’m so excited to see this vision come to life! We are an industry that is passionate about diversity and inclusivity, and yet for many people and communities in the UK there are huge barriers to entry, largely due to the costs involved and the commitments they have in their lives.
“Some people simply cannot afford to invest in themselves. I believe this is overlooking exceptional talent and limiting the diversity this sector so desperately needs. We know that the cost of living limits the risks our future entrepreneurs can take, and hopefully this initiative can help close that gap.
“The average first-time buyer is 33 years old and the average age of a mortgage broker is in the mid-50s. We want our first-time buyers to be much younger when they come up the ladder, and this could change that too. By attracting diverse, younger minds they can appeal to younger buyers and know what consumers need, especially with the technology that is coming!
“And from a personal perspective, everyone deserves someone who believes in them.
“I’ve seen firsthand the life-changing impact of that. Once someone else believes in you, you start to believe in yourself – and THAT’s where magic and innovation lie. With the help of LIBF, we’re so excited and committed to being the ones to 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.’”
Applications for the new scheme are expected to open in January 2026. A selection process will then take place to choose the three people who will receive the new LIBF X Mortgage Mum grant.
Unsuccessful applicants will also receive feedback and be put in touch with charities that can help them. The people chosen for the scheme are expected to start work in the spring of 2026.