Are you wondering about CeMAP?
Have you heard CeMAP being discussed and are wondering what CeMAP actually is? CeMAP is an acronym that stands for Certificate in Mortgage Advice and Practice and is the qualification that a person must obtain in order to become a recognised mortgage advisor. The certificate once gained will enable the holder to be recognised by the Financial Services Authority and will allow him or her to place the letters CeMAP after their name so that employers and customers will be able to see that they are a qualified professional mortgage advisor.
To obtain a CeMAP qualification a person must sit and pass three exams on the following subjects: UK Financial Regulation, Mortgages and Assessment of Mortgage Advice Knowledge. These exams must be passed with a minimum 70% pass rate, but applicants are able to re-sit the exams if they have not achieved the required pass rate.
Gaining this qualification will open the door to a new exciting and rewarding career as a mortgage advisor. The rewards available are both financial and emotional; a mortgage advisor can earn an extremely good income but also has the emotional satisfaction of knowing that they have made a difference in their customer’s lives. Buying a property is the biggest purchase most people will ever make and more and more people are seeking professional advice to find their way through the minefield of products and providers offered in the modern financial market. A professional mortgage advisor will obtain the satisfaction of knowing that they have helped their clients to purchase a property and obtain a mortgage that is perfectly suited to their needs. Mortgage advisors can also help customers who are in financial difficulty to retain their homes and make their financial obligations more affordable by finding a mortgage that will consolidate all of the customer’s debts and reduce their total repayments. Many people who have obtained their CeMAP qualification cite knowing they are really helping people is extremely rewarding and motivating.
Once a person has gained their CeMAP qualification there are numerous avenues they can pursue for employment from working for themselves as independent mortgage advisors to working as an employee in companies as varied as financial institutions, banks, building societies, real estate agencies and even the new providers such as internet based lenders.
There is a huge and growing demand for CeMAP qualified people as our financial market becomes more complex and varied. The amount of mortgage providers and individual mortgage products available to consumers has increased dramatically in recent years and will continue to do so. Consumers are a lot more aware of the number and variety of products on offer and are shopping around for mortgages more than they ever have historically. They are seeking professional assistance to ensure that they purchase the most suitable and inexpensive mortgage and are aware that CeMAP qualified mortgage advisors are fully trained, recognised professionals that can assist them in the search for the right mortgage.
CeMAP is a qualification that is necessary to become a recognised mortgage advisor, and studying to obtain a CeMAP qualification is the first step to a new rewarding career for many people.
