CeMAP-Certificate in Mortgage Advice
CeMAP is an acronym for Certificate in Mortgage Advice and Practice. The CeMAP qualification allows those people that have obtained the certificate to be officially recognised by the Financial Services Authority as practicing mortgage advisors.
The CeMAP course of study involves learning three distinct modules, these being: CeMAP- UK Financial Regulation, CeMAP – Mortgages, CeMAP – Assessment of Mortgage Advice Knowledge. Each of these modules is studied separately at the conclusion of which the student sits a final exam. (There is the opportunity of resitting the exam if the student does not pass specific units.)
There is a huge demand for people who have achieved the CeMAP qualification due to factors such as the property boom, the current interest in investing in property and the cost and complexity of mortgages. It is nearly impossible nowadays to look at any form of media without seeing references to home ownership, investing in property or mortgages and mortgage rates; there are even TV shows devoted to buying and selling property, investing in property and developing properties for resale.
Due to factors such as the housing boom and rapidly rising property values, consumers are keen to seek professional advice about how to seek out the best, most affordable and most suitable mortgages available to them. Many consumers who once would have just applied to their bank for a mortgage, are now shopping around for the mortgage product which best suits their needs. Thus, the need for qualified mortgage advisors has never been greater.
Buying a house is generally believed to be the biggest and most expensive purchase a consumer will ever make, and in the current climate, it is more expensive than it has ever been before. As recently reported by the BBC, lenders are lending as much as five times a consumers salary to keep pace with rapidly escalating property market. They also reported that in a recent survey conducted by a Yorkshire Bank, sixty percent of first time home buyers stated that they would be willing to take even greater financial risks and borrow in excess of five times their salary to enter the housing market.
A mortgage is a complex, long-term contract; it is the only contract the average person will sign and commit to that lasts for 20 years or more. Mortgages are also complex and confusing for the average person. This complexity and longevity of the commitment, as well as the amounts of money involved, is what is leading consumers in numbers never before seen to seek out the advice and counsel of trained and officially recognised experts in the field.
There is presently and will continue to be well into the foreseeable future a high demand for people with a CeMAP qualification. In as short a time as six weeks, you can obtain your CeMAP certificate and be well on your way to an exciting new career in which you can really help people to enter the housing market, or make their current financial obligations more affordable.
