A guide to Certificate in Mortgage Advice (CII CeMAP equivalent)

What is the Certificate in Mortgage Advice?

The Certificate in Mortgage Advice is a level 3 qualification that meets the FCA’s qualification requirements for mortgage advisers. Upon completion, it allows CII/PFS members to provide professional Mortgage Advice in the U.K and also to use the Cert CII (MP) designation in their name.

Why do you need it?

To offer professional mortgage advice, you must hold a qualification that is recognised by the Financial Conduct Authority (FCA). If you do not hold the necessary mortgage qualifications, you will struggle to become appointed to provide regulated mortgage advice.

What are the benefits?

The benefits of undertaking the Certificate in Mortgage Advice:

  • Broken down into seperate units making it more managable
  • Some choice in what units you do
  • Result is instant when using MCQ
  • Extra study material is available if you need it

It allows you to access the benefits that come with being a Mortgage Advisor which means:

  • Uncapped earning potential
  • Flexible
  • Costs less than a degree

How to seek help with the Certificate in Mortgage Advice?

Additional revision aids are offered through purchasing Enrolment plus for most key units. These range from Key fact booklets and Question packs, to Learn online tutorials.

What are the units?

R01 – Financial Services, Regulation and Ethics

  • 2 hour exam
  • 100 multiple choice questions
  • 20 Credits
  • Level 4
  • The nominal pass mark is 65%
  • The 2020 pass rate for this unit was 69%
  • Member £252.29
  • Non-member £344.30

In this unit you will cover the:

  • purpose and structure of UK financial services;
  • how the retail customer is served by the financial services profession;
  • regulatory framework, powers and responsibilities to protect the consumer;
  • legal concepts and considerations relevant to financial advice;
  • Code of Ethics and its impact on the business behaviours of individuals.

CF1 – UK Financial Services, Regulation and Ethics

  • 2 hour exam
  • 100 multiple choice questions
  • 15 Credits
  • Level 3
  • 70% nominal pass mark (the actual pass mark may vary from one session to another to ensure consistency in pass standards)
  • The 2020 pass rate for this unit was 66%

In this unit you will learn the:

  • purpose and structure of the UK financial services industry;
  • different financial asset classes and product types;
  • process of giving advice and the main areas covered;
  • ethics, regulatory processes, rules and legislation underpinning UK financial services;
  • use of the financial regulators’ powers and responsibilities to protect the market’s integrity and the impact on individuals and firms of these regulators’ powers.

CF6 – Mortgage Advice

  • 3 hour exam
  • 100 multiple choice questions (MCQs), 5 case studies, each comprising 5 MCQs
  • 20 Credits
  • Level 3
  • The nominal pass mark is 70%
  • The 2020 pass rate for this unit was 84%

In this unit you will learn the:

  • house-buying process, from making an offer to completion and the key parties involved;
  • different types of borrowers and how to meet their individual mortgage needs;
  • different types of mortgage product and repayment options and their suitability for the client;
  • legislative and regulatory position of mortgages and the requirements of a mortgage adviser.

How much does it cost?

The Certificate in Mortgage Advice can cost two different prices which are:

UnitMember costNon-member cost
R01£252.29£344.30
CF1£188.11£229.50
CF6£188.11£229.50
Certificate in Mortgage Advice cost

Therefore, the two options are:

R01 + CF6 total cost=

Member = £440.40

Non-member = £573.8

CF1 + CF6 total cost=

Member = £376.22

Non-member = £459.00

How long does the Certificate in Mortgage Advice take?

In total, the Certificate in Mortgage Advice takes around 160 total study hours regardless of what module path you take. However, exams (in the 21/22) are sat from 01 Sep 2021 to 31 Aug 2022

What study material is available for it?

On their website, the CII state “Qualification units are delivered through purchasing an Enrolment, equipping you with the essential materials to support core learning. For a single fee, an Enrolment typically includes study text, assessment and access to RevisionMate, our online study tool. We also offer additional revision aids through purchasing Enrolment plus for most key units. These range from Key fact booklets and Question packs, to Learn online tutorials.”

What assessment types are used?

The CII use multiple-choice questions (MCQ) to assess individuals, the benefit of these being that the result is instantaneous – meaning no waiting around for results to come back!

Conclusion

The Certificate in Mortgage Advice is one of the go to qualifications when looking to start a career as a Mortgage Advisor. It is important that when you pass, that you know what your next steps are and as a business, we have covered the key things like: Writing your CV for Financial Services, Finding a new job and How to transition your career which could be especially useful if you are looking to become a Mortgage Advisor.

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

To view our Mortgage Advisor vacancies, click here: https://www.premierjobsuk.com/index-search_results.html?JobCategory=95​

Email: enquiries@premierjobsuk.com

Telephone: 0208 0044 154