The word ‘Mentor’ dates back to Greek mythology, but did not arrive in its present form in

the business world until the 1970s. Since then, mentoring has taken off on both sides of the

Atlantic, though it is most prevalent in the US, where 70% of Fortune 500 firms and 93% of

Fortune 100 companies run some form of mentoring schemes.

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But UK firms are increasingly embracing the benefits of mentoring and the boost schemes

can offer to mentees, mentors, and also to businesses themselves. According to a

government survey published on National Mentoring Day in 2002, experience of and

interest in mentoring is high, with 61% of respondents believing that mentoring’s reputation

among their peers and colleagues had increased over time.

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Recognising the benefits mentoring can bring to individuals and to the wider industry, last

year the Intermediary Mortgage Lenders Association (IMLA) came together with the

Association of Mortgage Intermediaries (AMI) in 2023 to set up a joint mentoring scheme,

to link experienced people working within lender and adviser firms with less experienced

‘mentees’ from across the industry. Take up has been positive, but there are still several

dozen mentors signed up to the scheme, ready and willing to give their time and share their

wisdom. So just what can they offer?

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Some of the positive aspects of mentoring are more obvious than others. An experienced

mentor can share their market knowledge and experience with you, help you to establish or

expand your network by introducing you to helpful contacts, encourage you to apply for

more senior roles, prepare you for interviews, vouch for you and provide guidance and

encouragement.

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But the best mentors can potentially go even further. They can challenge you to think

differently, to step back and look at the bigger picture, to change limiting habits and learned

behaviours and to grow, both within your role and as a person.

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A good mentor can help you identify and develop your strongest skills and improve on your

weaker areas, to set goals, be more aspirational, to stay motivated and focused on your

journey.

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Mentors can be people inside your own organisation or external. External mentors usually

work in the same industry as their mentees, but there are exceptions, who could even be

friends or family.

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So what is stopping more people in the mortgage industry from seeking out a mentor? Well,

you may be afraid to ask, or how to go about it. Just remember, mentorship is a relationship

between humans — and not a transaction. So, it’s best not to simply march up to someone

and ask them to advise you. Take the time to develop genuine connections with those you

look up to and would like to work with.

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Alternatively, a simple route is to sign up to the IMLA/AMI mentoring scheme. The scheme,

run via the Working in Mortgages website, is open to anyone working at a mortgage lender

or insurance provider, and is completely free of charge. A mentor can be an invaluable asset

to you personally, and your working life. So why not visit the website to improve your

future?

See workinginmortgages.onpld.com

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