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CeMAP training or the death of a mortgage broker

Regulation of the uk mortgage market has increased in line with the overall trend of consumer protection. 
It is generally felt that hitherto the mortgage market has been under-regulated.

The uk financial scandals of the 1980s resulted in much tighter control over the entire industry, not least self employed 
mortgage advisors. It also resulted in greater clarity and transparency with regard to contractual agreements, with the 
introduction of The Mortgage Code. However, there was still a long way to go. In uk in 1998, banks paid out £1.3 million 
against 12,000 customer complaints - a 35% increase over the previous year. Mortgages represent one of the biggest 
areas of complaint with lock-ins and high redemption costs.

The principal problem facing the uk mortgage broker is increased market regulation. In view of current market trends, 
self employed mortgage advisors are increasingly looking to operate with organisations which provide them with the 
requisite infrastructure, enabling them to be competitive and meet ever more stringent regulatory requirements.

Consequently, Mortgage Networks, IFA Networks are taking an increasing share of the self employed mortgage 
advisor market. It does not end there as a further tightening of mortgage regulations took place from 1st 
November 2004, when the Financial Services Authority (FSA) took over from the Mortgage Code Compliance 
Board (MCCB) and the need for certificate in mortgage advice and practice (CeMAP) qualifications were introduced. 

Because of this expansion, along with the development of e-commerce, websites and direct sales, there has 
never been a greater need for objective, experienced and professional personal advice. Consumers need and 
want objective advice to guide them through the mortgage maze. Self employed mortgage advisors are taking 
an ever-increasing share of the market and there is a continuing shakedown within the brokerage sector, 
with Mortgage Networks expanding their influence. 

However, since October 31 2004, estimates show that that the number of uk CeMAP qualified personnel 
who are qualified to advise in the mortgage market have nearly halved. This loss means that the response 
time for processing mortgage enquiries is likely to increase, along with a rise in administrative difficulties 
and the risk of compensation claims. 

CeMAP Training and examinations

Are you interested in starting a career in the uk mortgage industry?

You will not need to have academic qualifications to be able to pass the CeMAP exams but a strong desire 
to succeed is highly advantageous. The start to becoming a mortgage advisor is getting through the initial 
training programme, successfully passing the exams and then moving on to learning about how to become 
a mortgage consultant or mortgage broker.

We know from experience that the key to the success of a mortgage consultant is a continuous training 
programme that starts with quality CeMAP training and extends well into a mortgage consultants career.

CeMAP training courses, mortgage consultant training, become a mortgage broker training courses are 
all available as the first steps to becoming a mortgage advisor and you could be qualified in just 10 days.

If you are looking to start a career in Financial Services as a mortgage advisor, then let our dedicated team 
of industry-experienced training professionals lead the way. 

Would you like to see how we can fast track you on our CeMAP UK training courses, 
to pass the CeMAP examinations and beyond?

To attain the Certificate in Mortgage Advice and Practice (CeMAP) qualification you must achieve 
examination passes in each of the three CeMAP modules, namely:

CeMAP Module 1 – UK Financial Regulation
CeMAP Module 2 – Mortgages
CeMAP Module 3 – An assessment of mortgage advice knowledge

Do you want to become a mortgage Broker? We know that well trained mortgage brokers earnings are 
between £25,000 - £150,000 per annum.

Our fast track quality CeMAP training couses could help you to be a Qualified Mortgage Adviser in just 10 Days! 
Now is your chance!

The training courses will give you the knowledge and the industry qualification that you need to embark on 
a successful career within the Financial Services sector. Training to be a fully qualified Mortgage Adviser 
starts with obtaining a pass in the Certificate in Mortgage Advice and Practice (CeMAP) papers 1, 2 & 3.

Our training classes are based on groups of between 6-10 people for ease of control and ability to interact 
with the tutor. The courses are extremely focused and prepare delegates for the CeMAP examinations.

We fast track candidates in five days per course, in hotels throughout many regions of the UK ensuring that 
one of our courses will be near to you. 

We recommend that candidates take papers 2&3 together first, as experience has taught us that candidates 
pick up the mortgage terminology on these courses and then successfully apply them to paper 1.

CeMAP paper 2 content: Mortgages (containing 4 units)

- Mortgage Law, policy, Practice and Markets.
- Mortgage applications;
- Mortgage payments methods;
- Mortgage arrears and post completion issues.

The examination is computer based and consists of 25 multiple choice questions on each unit (100 in total). 
You must answer 17 from each unit correctly to get a pass, 20 from each unit to get a merit and 22 from 
each unit to get a distinction.

2 hours are allowed to complete the exam. 

CeMAP paper 3 content: Assessment of Mortgage advice knowledge 

The aim of the syllabus for this study topic is to enable you to:

Demonstrate the ability to analyse consumer circumstances and suitable mortgage solutions, 
taking into account any existing arrangements

Demonstrate the ability to apply suitable mortgage solutions to specific consumer circumstances

Demonstrate the ability to identify consumer needs and demands and recommend suitable and affordable 
mortgage solutions, using your knowledge and understanding of:-

- The advice process
- The UK finance industry, and the regulatory and ethical framework for giving mortgage advice
- The different types of mortgage solution and the criteria for determining their suitability and affordability.

The exam is computer based and consists of 60 multiple choice questions based on 6 case studies. 
You must answer 42 correctly to get a pass, 48 to get a merit and 54 to get a distinction.

We fast track candidates in five days from Monday to Friday

CeMAP paper 1 content: UK Financial Regulation (shared with CeFA) split into two units:

- Introduction to the Financial Services Environment and Products
- Financial Services and Regulation.

The exam is computer based and consists of 50 multiple choice questions on each unit (100 in total). 
You must answer 35 from each unit correctly to get a pass, 40 from each unit to get a merit and 45 
from each unit to get a distinction.

2 hours is allowed to complete the exam.

Depending on the individual, we recommend that candidates take their respective examinations 
between 2 and 6 days after our fast track course, as using this unique formula has allowed us 
to achive a 90% success rate in candidates examination results. 

Interested? Visit our website http://www.cemap-training.org.uk for more information 





About the author:
Joe Kocsis
Marketing Director
Money Marketing Limited






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