How to become a qualified Mortgage Adviser

Are you looking at becoming a qualified Mortgage Adviser but unsure on how to obtain your qualifications? In this blog, we are going to cover the 2 main routes to obtain your mortgage qualification – The London Institute of Banking & Finance and The Chartered Insurance Institute.

The London Institute of Banking & Finance

The London Institute of Banking & Finance enables you to gain the CeMAP qualification which is an industry benchmark qualification for becoming an authorised Mortgage Adviser. You can complete the course to become a qualified Mortgage Adviser in as little as six months.

The qualification has three modules which provide you with an extensive knowledge of UK regulated mortgage policy and practice, and how to apply this when providing mortgage advice. The modules can be completed one at a time.

Benefits for you

  • Study at your own pace
  • Book your exam date when you are ready at one of the 150 Pearson VUE test centres
  • Access your exam results the same day
  • You can use the ‘CeMAP’ designation after your name once you qualify

Registration fee

£180 per module (£540 for 3 modules)

Time to complete

This qualification can be completed in 12 months

Study type

Self-study, distance learning

Study material

Study texts are provided online and in hard copy for Modules 1 and 2. Module 3 does not have a study text, however, an information booklet and a free synoptic paper available on the course website to help you. You will also get access to a student-led discussion forum, study tip videos, a weekly study planner and syllabus updates.

Study support

Additional study support is available to purchase at any time: CeMAP 2 Module Support, CeMAP Revision Tool (CRT), Specimen Papers (paper copy) & Ask The Experts (online tutor support).

Assessment provider

Pearson VUE test centres nationwide.

Certificate

Your certificate will be posted to you once all three modules are successfully completed.

Modules

CeMAP consists of 7 compulsory units contained within 3 modules. You will have 12 months to complete each module and sit the exam.

Module 1: UK Financial Regulation (UKFR)

  • Unit 1 – Introduction to Financial Services Environment and Products.
  • Unit 2 – UK Financial Services and Regulation

Module 2: Mortgages (MORT)

  • Unit 3 – Mortgage Law, Policy, Practise and Markets
  • Unit 4 – Mortgage Applications
  • Unit 5 – Mortgage Payment Methods and Products
  • Unit 6 – Mortgage Arrears and Post Completion Issues

Module 3: Assessment of Mortgage Advice Knowledge (ASSM)

  • Unit 7 – Assessment of Mortgage Advice Knowledge

Assessment

Each module is assessed through a 2-hour objective exam.

Module 1 – 50 multiple-choice questions per unit

Module 2 – 25 multiple-choice questions per unit

Module 3 – 6 case studies with 10 linked multiple-choice questions

The Chartered Insurance Institute

The level 3 Certificate in Mortgage Advice meets the FCA’s qualification requirements for Mortgage Advisers. It develops an understanding of the sector and the mortgage process, enabling Mortgage Advisers to meet individual client needs.

Before studying, check to see whether any of your previous academic qualifications or credits from other professional bodies and institutes can be carried towards completion of the Certificate.

Study time

Specific study time guidelines are provided for each unit on its webpage and in the CII qualifications brochure. The estimated Ofqual ‘Total Qualification Time’ for this qualification is 160 hours. This represents the time a student might typically take to complete the qualification.

Core units

The certificate is made up of two units from a choice of three, providing a total of at least 35 credits on successful completion. There is no specific order in which units must be taken, but it is strongly recommended that you sit the required core unit first (R01 or CF1) as these provide foundation knowledge upon which the others build.

Unit

Credits Level

R01

Financial Services, regulation & ethics

OR

20

4

CF1

UK Financial Services, regulation & ethics 15

3

CF6 Mortgage advice 20

3

For more information on either route click the links below.

Chartered Insurance Institute (CII)

The London Institute of Banking & Finance (DipFA)

Job Opportunities as a Trainee Mortgage Adviser

Many Mortgage Brokerages in the UK are now identifying the need to bring new talent into the industry. At Premier Jobs UK, through our strong relationships we have established with our client companies across England, Scotland, Wales and Northern Ireland, we regularly are in discussions with business owners / hiring managers on recruiting Trainee Mortgage Advisers. This may be on a one-off basis or creating a regular intake of new starters.

Many firms now have structured training schemes in place they can utilise, offering their new starters a clear route into Financial Services. In most cases, you will be taken on initially in an administrative role whilst you learn the ropes through providing support to experienced Mortgage Advisers, alongside studying for your qualifications. As you increase your knowledge via the on-the-job learning and theoretical reading, your duties will transition into becoming more involved with each case. Upon graduation as a Mortgage Adviser, you will then begin to provide mortgage advice to clients and commence a potentially rewarding career.

If you have undergone obtaining your mortgage qualifications off your own back, this can potentially put you in a stronger position as it shows your desire and commitment to become a Mortgage Adviser. Your journey will still require you to undertake a period of training to build your core skills but is likely to allow you to start advising clients much quicker.

Therefore, if you are interested in becoming a Mortgage Adviser or know someone this could suit, give us a call on 0208 0044 154 to find out what current opportunities we have available.

I hope you enjoyed this month’s blog. Feel free to check out previous blogs and let us know what you want next month’s topic to be, by emailing jakeh@premierjobsuk.com with your suggestions. Yours might feature so look forward to receiving your ideas.