For anyone interested in working in the mortgage industry, the Certificate in Mortgage Advice and Practice (CeMAP) is the preferred qualification. Meeting the requirements for education set out by the Financial Conduct Authority (FCA), it is a Level 3 Qualifications and Credit Framework (QCF) certificate, allowing its holders to work as a mortgage adviser.

Developed over many years by employers in the financial industry, the content of the course ensures that the right knowledge and understanding to provide mortgage advice is achieved. It also ensures that individuals working in the sector are able to meet current and future regulations in the industry.

Specific to the UK mortgage industry, it comprises a total of seven mandatory units. These are studied and assessed across three separate modules. There are no time constraints in regards to how long the qualification needs to be studied for, but the recommended advice for study is 200 hours.

CeMAP Module 1

The first module explores the financial services environment and introduces the main products provided by the industry. It also looks at the legalities of providing financial advice and how this legislation collaborates with regulation within the industry.

Two units make up Module 1. The first will introduce the financial services environment in the UK, and all associated products, whilst the second will look at the sector as a whole and how it is regulated.

Both unit one and unit two consist of an hour’s objective examination through a paper of 50 multiple choice questions at final assessment.

CeMAP Module 2

The second module looks at property purchase and the processes and legislation which control it. The module explores the mortgage application process, including the effect of ancillary insurance, and develops an understanding of the differing types of products available to customers seeking a mortgage.

It also looks at common issues which borrowers face upon mortgage completion, including the requirement for extra funding and how to approach difficulties in meeting existing commitments.

There are four units in Module 2. The first looks at the legislation, policies and practices in the mortgage markets, the second on the mortgage application process, the third mortgage payments and the final unit looks at arrears and complications.

All four units consist of half-an-hour’s objective examination through a paper of 25 multiple choice questions at final assessment.

CeMAP Module 3

The third and final module for CeMAP focuses on combining what has been studied in the previous two modules. Through the introduction of case studies, it challenges candidates to thoroughly analyse client needs to determine the most effective and affordable solutions available to them.

There is one unit in Module 3 which assesses the candidates’ knowledge and advice giving skills.

Assessment for the final module is a two hour objective examination paper consisting of six case studies, each of which has 10 multiple choice questions.

After CeMAP

Candidates that achieve CeMAP are allowed to use ‘CeMAP’ after their name and are awarded a ‘licence to practice’ for the mortgage advice arena. Those interested in studying further can also progress onto a DipMAP, which is a Level 4 QCF qualification. Showing further commitment and understanding of the industry, this Diploma allows mortgage professionals to improve their skills and knowledge to a higher level.

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