A guide to the ER1 qualification

A guide to the ER1 qualification

What is ER1?

ER1 is one of the go-to qualifications required to provide Equity Release advice in the UK and is provided by the Chartered Insurance Institute also known as the CII. It is a Level 3 qualification that provides 15 credits upon completion.

What are Equity Release Advisors?

The Telegraph described an Equity Release Advisor as “[Someone who] can recommend the products that protect your estate from additional costs. They will also provide a detailed projection showing how much the plan will cost over your lifetime, so you understand the financial implications of your decision.”

What are the benefits of being an Equity Release Advisor?

  • Earnings – Here at Premier Jobs UK we see that Equity Release Advisors can typically earn between £31,000 – £35,200 with a median salary of £33,100 and when additional on target earnings (OTE) are considered the average earnings range from around £46,250 up to £48,750!
  • Self-employed – Leading on from our last point, the nature of equity release means that many choose to go self-employed and set up their own business. This is a really desirable point for many as this means increased: autonomy, earning potential and stability
  • Leads – Many companies will supply you with leads which means that you will receive referrals for people seeking equity release advice

ER1 requirements

In order to undertake ER1 you must already hold the Certificate in Mortgage Advice which we have covered previously in a blog and on our video:

How long does ER1 take to get?

The CII say that the qualification takes around 70 study hours, but it is worth noting that, like all qualifications, this number can vary from person to person for any reason. At the end of the study, you will have to sit a 2-hour exam.

Where do you sit the exam?

Upon enrolment, you will be given an exam voucher and the option to either sit the exam remotely (online) or from one of their PFI exam centres where they run multiple exams across the country each month.

How much does it cost?

Standard preference (Digital format + Enrolment only which includes study text and assessment entry):

  • Member: £154.00
  • Non-member: £187.00

Costs can also be increased or decreased for various add ons or subtractions in content:

Equity Release (ER1) – Key Facts Booklet (Digital Only)

  • Members: + £26.00
  • Non-members: + £30.00

Digital and print + Enrolment only

  • Member £164.00
  • Non-member £201.00

Assessment Only

  • Member £103.00
  • Non-member £123.00

What is the exam type for ER1?

The only exam technique used is a ‘Multiple Choice Question Exam’ which we think is beneficial as the result is instantaneous for you.

Study tips for ER1?

Like many FS qualifications, you will need to focus your revision on the exam type which for this qualification is Multiple choice questions.

ER1 benefits

The benefits of studying ER1 mainly tie in with the benefits of being an Equity Release Advisors which we covered at the start of this blog. To recap:

  • Fantastic earning potential
  • Ability to go self-employed
  • Potential for provided leads


ER1 is one of the go-to qualifications when looking to start a career as an Equity Release Advisor. When you pass, make sure you know what your next steps are. As a business, we have covered the key things like Writing your CV for financial servicesFinding a new job and How to transition your career which could be especially useful if you are becoming an Equity Release Advisor for the first time.  

View our  Equity Release Advisor jobs now or call / email us to discuss your circumstances and what roles could be suitable for you free of charge at:

Email: [email protected]

Telephone: 0208 0044 154