The CeRER (Certificate in Regulated Equity Release) is an important aspect of being able to survive in today’s market, not simply because it helps a mortgage advisor diversify their business, but also because of the current tighter lending criteria required by many mortgage lenders.
Deposit requirements are much higher at the moment. 100 percent mortgages no longer exist and 95 percent mortgages are rare and only for those with an immaculate credit history.
First time buyers are watching in dismay as house prices have fallen, however, although the price might be more affordable, few can afford the ten percent deposit.
As a result, we are seeing more guarantor mortgages and many parents and grandparent are choosing to release equity to fund both their own retirement and to help their loved ones with the deposit they need to get on the property ladder.
In CeMAP training courses, delegates learn all about guarantor mortgages, however, equity release is a specialist market and mortgage advisors need their CeRER qualification as well as their CeMAP qualification in order to work in this market.
The CeRER qualification is relatively new and amazingly, less than 1000 UK advisors are qualified to operate in this area. A good CeRER training course should take no more than two days and allow you to quickly take your exam and qualify.