Becoming a mortgage advisor is one of the most fulfilling career paths available.
You will spend each day helping people to achieve their dreams of owning a home. It is also a career where you get to meet members of the public, so it will suit anyone who is naturally sociable.
You must get the CeMAP qualification to legally offer advice though, and this blog will cover all the main points you need to know.
What is CeMAP?
The acronym ‘CeMAP’ stands for Certificate of Mortgage Advice and Practice. It is the qualification that the Financial Conduct Authority (FCA) requires people to get before they offer mortgage advice on a professional basis. It is a Level 3 qualification, making it equivalent to an A-Level.
How long does CeMAP training take?
People take as long as they need, although the typical time period is anywhere from three to nine months. CeMAP course study can be done online.
Should you study online or at a training centre?
This will purely be a matter of personal preference. Studying online is likely to suit those who have a lot of commitments, because it allows for greater time flexibility. Either way, it is vital that you study with a reputable and accredited CeMAP course provider, to ensure your final qualification is valid.
What study support is provided?
A good online CeMAP course provider will offer various forms of study support. These include planners for each week, videos with tips on better study habits and forums where course discussion and help can be found.
Other useful materials can be acquired too, such as a CeMAP revision tool. This will let you test what you have learned before sitting the exam.
What does the exam involve?
Each of the three CeMAP modules has a separate examination consisting of multiple-choice questions. They can be sat when it is convenient to you, either online or at an examination centre. Your CeMAP certificate is awarded when you pass all three.
Can you become an advisor after that?
You will have to be licensed to practice and will need to work for a company on a supervised basis first to gain experience. Once you have ‘competent advisor status’ (CAS) you will be a fully-fledged mortgage advisor, and free to set up on your own.
