If you’re serious about starting a career as a mortgage advisor, you’ll need to study hard, pass examinations and gain the essential recognised qualifications to practice. From the courses you need to take and where you can complete your training, to how much you can expect to earn, you’ll find everything you need to know right here to get on the right track.
You’ll also discover what you’ll learn as you acquire your new qualifications, as well as understand what may be asked of you in your role as a mortgage broker.
What is CeMAP?
CeMAP courses (the acronym stands for Certificate in Mortgage Advice and Practice) have been designed to provide mortgage advisor hopefuls with the crucial qualification required to legally practice their new profession. Separated into three parts, CeMAP 1, 2 and 3 are courses that can be completed in any order, although most delegates opt to tackle them sequentially.
CeMAP classes designed to get you qualified
The Financial Conduct Authority (FCA) insists that all mortgage advisors must possess an appropriate qualification in order to practice their trade as a broker. The CeMAP course is the perfect solution and is seen as a mark of distinction by employers seeking to hire advisors and clients in need of advice.
The first step to becoming a mortgage advisor is to understand your industry and ensure you have all the knowledge and skills required to issue effective advice to your clients when seeking a mortgage. Completing the three CeMAP courses is a great way to begin your journey to become a professional mortgage advisor.
Finding the right training company for your UK CeMAP courses
It’s always wise to train in the city where you plan to work. While training, you’ll get to know your local area and make useful contacts and colleagues. At Beacon Financial Training, we aim to make CeMAP training easily available to all.
Where to find CeMAP training courses
While most CeMAP courses involve travel to London, Beacon has developed convenient courses based in the North of England with training centres in major cities such as Manchester and Liverpool. These locations provide candidates with an excellent launch point for their careers, with many future employers to choose from and great links to the wider region to meet new clients.
Taking a CeMAP Training Course at home
For those requiring greater flexibility, you’ll also find CeMAP home study courses. Learning at a distance can be more convenient if you’re already working or live in a remote location.
What’s involved in CeMAP training?
CeMAP training is completed in special training centres in small classes of up to 14 students. This has proved the ideal amount, providing a good number of peers but a small enough group that everyone benefits from the professional tutor’s attention. Course participants will learn about the regulations that govern giving advice on mortgages, as well as managing their clients. They will also learn how to complete all the necessary documentation involved to assist those they are advising. All the courses are completed with examinations that include multiple-choice style questions. The CeMAP 3 course also has case studies to complete.
Which CeMAP course is right for you?
If you’re a beginner, a CeMAP 1 course is an ideal starting point, giving you a solid foundation in your new profession. CeMAP 2 and 3 are suitable for those at the next level looking for in-depth knowledge of being a mortgage advisor.
Who will recognise a CeMAP qualification?
CeMAP qualifications are recognised by clients and employers alike. Candidates who have this qualification to their credit will be accepted as having an extensive knowledge of their field and the necessary skills to offer professional mortgage advice.
Putting your CeMAP training into practice
Once qualified, those with a CeMAP qualification will be able to find work at banks and building societies as well as specialist mortgage brokers. They can even work freelance for themselves with many firms taking on advisors in this fashion.
Practising as a mortgage broker after your CeMAP training course
Once qualified, you’ll typically work between 35 and 40 hours a week, which may involve weekends and evenings to suit your clients’ needs. As a professional mortgage advisor, you’ll have many responsibilities. These will include liaising with not just your clients, but estate agents, lenders, and valuers. You’ll need to advise your clients step-by-step during their mortgage application and help them complete any paperwork required. At all times you must follow the industry rules, giving appropriate and impartial advice.
Salary expectations for a CeMAP mortgage advisor
The basic salary for a mortgage advisor starting out is typically between £22,000 and £25,000. Any commission due will then be paid on top of this base amount. With a few years’ working experience to their credit, mortgage brokers can command a greater salary of between £45,000 and £60,000 including commission. Those with a high level of experience as a mortgage advisor will be able to secure the largest salaries, which can be around £70,000 with commission included.
These figures offer a rough guideline for salary and commission only, as each bank, building society and mortgage firm will have its own individual pay scale. Plus, as with all sectors, they are affected by inflation and direction of the market.
Why choose Beacon Training for a CeMAP mortgage advisor course?
With a 90% pass rate, we’re proud to announce our success running CeMAP courses. With easy-to-follow course materials, we supply our students with everything they need to achieve their goals.
At Beacon Training, you’ll only ever pay for a course once. This means you can take your exams again and again until fully satisfied with your score at no extra charge.
Support after you complete your CeMAP mortgage advisor training
Our assistance doesn’t stop when you pass your exams. At Beacon Training, we’re committed to our students even when they’re up and running as a qualified mortgage broker. While we can’t secure a job for candidates at the end of their training, we possess a wide selection of industry contacts we make readily available to students completing CeMAP courses with us.