Many of those potentially interested in taking their CeMAP training want to know whether the CeMAP is the only qualification they need in order to work as a mortgage advisor and what the CeRER qualification is for.
CeRER stands for Certificate in Regulated Equity release and unlike the CeMAP or the CeFA courses, it does require you to have prior knowledge and qualification – you must already have your CeMAP qualification before you can take the CeRER exam.
In previous years, the area of equity release was not regulated by the Financial Services Authority (FSA). Now that it is, advisors must have their CeRER qualification before they can give advice in this particular area. Equity release is when a person wants to release funds from their property – usually in return for a lump sum or a monthly income. Due to the potentially vulnerable nature of the applicants, equity release means a mortgage advisor must follow additional regulations.
For many mortgage advisors, doing CeRER training is something they should look to take onboard as the UK’s population is ageing and it is becoming a growth area. However, not having the CeRER does not limit work in the mortgage arena as it is still a specialist area at the moment. Perhaps in years to come, CeRER training will become more mainstream and people will look to take it earlier in their mortgage advice career.
When looking for CeRER training courses, be sure that the training provider runs the course over just a few days – two days is sufficient and you should not need a full week.