Do mortgage advisors need a Statement of Professional Standing (SPS)?

October 22, 2025 by Brendan O'Neill

Mortgage Advisors

Becoming a mortgage advisor is a career choice that carries real prestige, because it is a qualified profession. Not everyone is clear about precisely what qualifications are needed though. This blog will look at the Statement of Professional Standing (SPS) and whether it is something that a prospective advisor needs.

Do you need an SPS to be a mortgage advisor?

The simple answer to that question is no, you do not. You will need to gain qualifications if you want to offer mortgage advice on a professional basis, but an SPS is not one of them. At least, that is the case if you intend to restrict your professional activities solely to advising on mortgages.

Those who will need an SPS to operate legally are Retail Investment Advisors. That means people who offer advice on matters such as tax, pensions and investments. Setting yourself up in business to do that without having an SPS from an accredited body is against the law. The SPS qualification proves that retail investment advisors meet the necessary ethical and professional standards.

What do mortgage advisors need?

To be a mortgage advisor, you will need a qualification that is recognised by the Financial Conduct Authority (FCA). The FCA is the main financial services regulator. Although it is not the only option, the CeMAP qualification is by far the most common one sought by aspiring advisors. CeMAP stands for Certificate in Mortgage Advice and Practice. The CeMAP course consists of a total of three modules that are followed by exams.

Gaining a CeMAP qualification serves the same purpose for mortgage advisors as the SPS one does for retail investment advisors. It is proof that they can meet the required professional and ethical standards.

When you have successfully completed this course, you will need to register with the FCA. It is not possible to offer advice legally without this registration. You will also be expected to pursue Continuous Professional Development during your career, so that you stay on top of developments in the mortgage industry.

The only situation whereby a mortgage advisor would need an SPS is if they wished to branch out into other areas of advice.