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What’s the difference between CeMAP and CII?

To operate in Britain as a mortgage broker, advisors must have a recognised qualification that is accepted by the Financial Conduct Authority (FCA). To meet the regulator’s requirements for practicing mortgage advice in the UK, two main forms of certification have been devised by two different institutions.

The London Institute of Banking and Finance (LIBF) has developed the Certificate of Mortgage and Practice, often referred to simply as CeMAP. The Chartered Insurance Institute (CII), on the other hand, offers the Certificate in Mortgage Advice. This qualification is sometimes called CII for short, after its provider.

While these certifications are both recognised by the FCA as industry standards and share similarities, they also have some differences.

Course structure

Awarded by LIBF, a CeMAP qualification is divided into three different parts. CeMAP 1 consists of two units that give students a background in financial products, services, regulations and legislation. CeMAP 2 has four units covering mortgage, policy, law, markets, practice, applications, payment methods, post completion problems and arrears. Finally, CeMAP 3 assesses the CeMAP learner’s knowledge and ability to provide advice.

The Certificate in Mortgage Advice provided by CII has only two units. The first, CF6, is compulsory and covers mortgage advice, followed by CF1 covering UK financial services, ethics and regulations.

Assessments

CeMAP courses assess students using multiple methods. These involve case studies, objective exams and multiple-choice style questions. CII qualifications also use a multiple-choice format for examination.

Why choose a CeMAP qualification over CII?

CeMAP and CII are ranked equally by the FCA and accepted by employers. However, CeMAP is more widely known throughout the industry. The main reason for this is that it has proven the most popular choice for mortgage brokers to be, with approximately 80 per cent of practicing advisors holding a CeMAP qualification. Undertaking a course to gain the most widely recognised and adopted qualification makes good sense for brokers seeking to streamline their entry into the financial services industry as a practicing advisor.

Tailored ways to become qualified

CeMAP courses are offered in different formats to suit personal needs, circumstances and study habits. At Beacon Financial Training, we provide CeMAP classes at our dedicated training centres. However, we also offer live webinar courses and online courses that can be completed remotely. Offering the same levels of support and high standard of courses materials and tuition, these options are available at affordable prices. Get in touch today to learn more.

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