The Certificate in Mortgage Advice and Practice (CeMAP) is the industry standard qualification for becoming a mortgage advisor, and it is one that more people are choosing to complete online – particularly with the COVID-19 pandemic. So, what should you expect if you choose to pursue this qualification via an online provider?
Typically, CeMAP training courses will consist of seven units that must be completed successfully and will be split into three different modules. The first of these concentrates on subjects such as mortgages, pensions, investments and tax, as well as regulatory issues that are relevant to advisors, like money laundering and data protection.
The second module details how to handle applications for mortgages, types of mortgage products, ways of paying back loans and what to do if a client has fallen into arrears with their mortgage. This module also deals with legal, policy and practice matters relevant to the mortgage industry. The final module assesses mortgage knowledge and advice, and is frequently studied alongside module two due to the amount of overlap in the subject matter.
Crucially, mortgage lenders are involved in the development and maintenance of CeMAP, making sure that the qualification is regularly adjusted to ensure it stays relevant to the industry as it changes.
Once they are qualified and pursuing their careers, advisors are encouraged to continue educating themselves through continuous professional development. This is to ensure that their grasp of all aspects of mortgage advising, from the latest criteria to regulations, stays up to date and razor sharp.