Despite the recently publicised issues with the mortgage market, this week the Head of Financial Regulation at the ifs School of Finance, Mark Roberts, confirmed that there has been little change in the number of people registering to take their CeMAP exam.
CeMAP stands for the Certificate in Mortgage Advice and Practice and the CeMAP qualification is the UK benchmark qualification for mortgage advisors. 80% of UK mortgage advisors have their CeMAP qualification. It is a legal requirement that all mortgage advisors must hold the CeMAP certificate or its equivalent.
Many people may be surprised by this news, considering the number of mortgage products has reduced from around 15,000 just one year ago to now only approximately 3,000 mortgage products, however, Roberts believes that as some consumers are struggling to find an appropriate product, the advice and invaluable help that a qualified mortgage advisor can give is more important than ever.
The Association of Mortgage Intermediaries confirmed that, according to their figures, around ten per cent more first time buyers sought the help of a professional mortgage advisor this year than in 2007 and the rise was similar in the re-mortgage market as well.
2007 was a record year for the number of people registering to take their CeMAP examination and this has reduced slightly for the first six months of 2008, however, if the number of registrations continue at the current rate, 2008 should be another successful year for the industry.
The CeMAP qualification is incorporated into the National Qualifications Framework at Level 3, is accredited by the QCA (Qualification and Curriculum Authority) and meets FSSC requirements.
Many CeMAP training companies run CeMAP courses in London, but some companies also offer CeMAP courses in places such as Liverpool, Manchester, Leeds, Birmingham and more. There are also CeMAP courses in Scotland, although anyone interested in studying for their CeMAP in Scotland, should take care to ensure that the CeMAP training company tailors their course for Scottish Law.