Financial services sector seeks mortgage advice qualifications

August 26, 2015 by Brendan O'Neill

CeMAP

Recent research indicates that contractors in the financial services sector are studying for additional qualifications, so they can move into the mortgage advice industry.

The study revealed that by seeking qualifications in the mortgage sector, contractors in financial services believe they will excel in the market and remain competitive. The study, which was conducted by financial services recruiter Grovelands, saw 173 contractors take part, of which 75% are in financial conduct risk. A Certificate in Mortgage Advice and Practice (CeMAP) was held by about 15% of the contractors, while 11% of the participants in the study intended to take the exam during the next year.

According to a spokesperson for Grovelands, the Mortgage https://www.beaconfinancialtraining.co.uk/wp-content/uploads/2020/06/cemap-online-and-classroom-training-uk.jpget Review of 2012 has introduced new regulations, which the organisation believes will result in greater demand for the services of a mortgage adviser. Contractors who take the CeMAP Course will ensure their knowledge of the mortgage application process is up to date, making it possible to assist those looking for a product to suit their circumstances.

Contractors from the financial services sector are also discovering that as cases connected to the misselling of PPI reduce, the demand for their services is also dwindling. This means that clients can demand more from contractors, including more relevant qualifications. The influx of surplus financial contractors has also resulted in clients being able to set their own rates and hours of work, reducing flexibility. This demand for relevant qualifications now means increased skill levels help contractors stand out in the jobs market.