CeMAP stands for the ‘Certificate in Mortgage Advice and Practice’. It is the qualification that you need if you want to become a mortgage advisor, able to give advice on mortgages to the general public.
The CeMAP qualification is awarded by the Institute of Financial Services. The mortgage market is regulated by the Financial Services Authority (FSA) and the CeMAP qualification is recognised by the FSA. All recognised practising mortgage advisors must have their CeMAP.
The CeMAP qualification consists of three parts or modules:
CeMAP 1: UK Financial Regulation
CeMAP 2: Mortgage Advice & Knowledge
CeMAP 3: Assessment of Mortgage Advice & Knowledge
You may think the titles of CeMAP 2 & 3 seem to be the same thing and you would be right. The syllabus for CeMAP 2 and 3 is exactly the same, i.e. the knowledge and information you learn for one is the same for the other, but the two modules are assessed in a different manner, which we will talk about in a later article.
To achieve your CeMAP qualification and become a mortgage advisor, you must pass all three modules. Many people find the information provided by the Institute of Financial Services difficult to read and understand, so many turn to CeMAP courses and CeMAP training to help them pass and there are many CeMAP training courses available throughout the UK.
When choosing a CeMAP training course, be sure to find a reputable company with a proven track record.