There are still a lot of people who are very interested in getting into the mortgage market and working as a mortgage advisor because we all know that in the long term, house prices rise and it is the British culture that we all want to own our own property.
However, although there are still lots of enquiries coming through for the CeMAP training courses for CeMAP 1 and CeMAP 2 & 3, many people are naturally asking the question “Is doing a CeMAP training course a good idea right now?”
Overall, although you might think we are a little biased in our love of the financial advice market, we believe it is actually a really good time to do a CeMAP course. There are a couple of good reasons for this:
- Property prices have fallen quite a bit recently, however, there are still sales whether they are ‘normal’ sales for normal reasons, sales because people cannot afford the mortgage or property developers trying to release equity, or even remortgages. The reason sales have fallen is that people are panicking, which always happens when things change. People don’t like change. Banks are just starting to build their confidence back up again in lending to each other and that will start the market moving again. Mortgage approvals might be at a low but that is mostly for new sales. There are hundreds of thousands of remortgages going on and mortgage advisors are needed for those mortgages too
- CeMAP training does take a little time. At its fastest, you could take your CeMAP 1 and CeMAP 2 & 3 courses back to back and take both exams straight away, but that would be very hard work and not something we recommend. Ideally, you should do one course and take the exam 10-14 days later. Then plan the next one. If you are putting yourself through the courses, using holidays from work or home study, then it could take you a bit longer. After you have the CeMAP qualification, you then have to get your Competent Advisor Status, which takes usually around 6 months. It could take you a year to complete everything and that should mean you’re coming into the mortgage market at just the right time
- Working as a mortgage advisor is one thing you can do in either an employed position or self employed, so if you are one of the unfortunate ones to have been made redundant, it is a great time to use a few days of what would otherwise be holiday time to gain a new qualification and show employers that you have the initiative and get-up-and-go to do something for yourself and learn something new. Many successful mortgage advice business owners got started because they were made redundant
If you are unsure whether CeMAP training is right for you, then get in touch with a reputable financial advice training provider and they should be happy to answer any questions for you.
