Is CeMAP module 1 being replaced with FSRE?

August 19, 2025 by Mark

CeMAP

For anyone who wants to train as a mortgage advisor, the CeMAP course represents the industry standard. Gaining that qualification will mean that everyone in the UK recognises that you have the right to offer mortgage advice on a professional basis. This course has always consisted of three modules: CeMAP 1, CeMAP 2 and CeMAP 3. Now that is set to change though.

What is happening to the CeMAP 1 module?

The CeMAP 1 module is set to be replaced by a new module called ‘Financial Services, Regulation and Ethics’ (FSRE). For those who are unfamiliar with the subject, the title of the existing CeMAP 1 module is ‘UK Financial Regulation’. That should make it clear that what is happening is not a wholesale change so much as a revision. The focus of the new FSRE module will be the regulatory framework for the financial services sector, just as it was with CeMAP 1. There are key differences between the two though, which justify the change.

Qualification level

The FSRE module is set to be a Level 4 qualification, whereas CeMAP 1 is a Level 3 qualification. In the financial services sector, Level 4 qualifications are equivalent to year one of a degree. By contrast, Level 3 qualifications are equivalent to A-Levels. That means people can expect the new module to cover the main topics in more depth.

The decision to make the change has come from the London Institute of Banking and Finance (LIBF). The reasoning behind it is that CeMAP 1 is considered to be out of date for the modern financial services industry. FSRE will provide students with greater real-world practical guidance, including case studies that focus on common scenarios. It will also feature updated regulatory information and spend more time on industry ethics.

When does the change happen?

The FSRE module will replace CeMAP 1 from September of 2025. People will have until September 29 to register under the existing system and until January to complete the examinations. If you have already completed CeMAP training, your qualification will still be valid. You will not be required to replace your CeMAP 1 qualification with the new one.