Mortgage Credit Intermediary License

If you commercially broker or advise on residential mortgage credit agreements, you need a license under Section 34i of the Trade Regulation Act (GewO). This applies to mortgage brokers, independent credit advisers, and anyone arranging property loans for consumers.

The license is issued by the competent trade authority. You must pass the IHK competence examination (Sachkundeprüfung) for mortgage credit intermediaries, demonstrate personal reliability and orderly financial circumstances, and hold professional liability insurance. Certain professional qualifications (listed in Section 4 of the ImmVermV) are accepted in place of the exam. After licensing, you must register in the intermediary register. Continuing professional development of 15 hours per year is required.