If you, or someone in your business, is responsible for providing mortgage advice to clients, you'll need to hold a qualification officially recognised by the Financial Conduct Authority (FCA).
The most widely recognised choice is the Certificate in Mortgage Advice and Practice (CeMAP), which is accredited by the London Institute of Banking and Finance (LIBF). It's often viewed as the gold standard in terms of accreditation and is a sign of competency you can show to employers, clients and regulators alike.
CeMAP is not exclusively for mortgage advisors. Other roles that include financial advice can also benefit—whether that’s an estate agent looking to provide their own mortgage brokering service or a compliance officer within the financial sector seeking to stay ahead of changing mortgage regulations.
What is a CeMAP qualification?
CeMAP is an FCA-recognised qualification designed for people who want to give professional mortgage advice. To attain the qualification, you’ll take an online course that can take up to one year to pass. The CeMAP course consists of three modules:
- CeMAP Module 1 (UK Financial Regulation): The first module is split into two units, one of which gives learners a background of the mortgage industry. The second unit teaches financial standards, rules and regulations that govern mortgage advisors.
- CeMAP Module 2 (Mortgage Law, Policy, and Practice): This module is more focused on the idea of mortgages as a product. It covers types of mortgages and policies available to customers, as well as lending processes and elements of property law.
- CeMAP Module 3 (Assessment of Mortgage Advice Knowledge): the most practical module gives learners scenarios and case studies designed to show practical applications of mortgage advice. It not only builds financial knowledge, but helps candidates improve customer service and people skills.
Candidates must pass all three of these modules to successfully obtain their CeMAP and become legally qualified mortgage advisors. Once passed, the CeMAP qualification lasts indefinitely.
How long does the CeMAP course take?
The entire CeMAP training process takes place online and involves a recommended 230 hours of study. Some students pursue this full-time in three months, whereas others may spread the training across a full year.
If you’re an employer and you want staff trained to be able to offer mortgage advice, you could support their study by allowing them to complete some of these mandatory hours as part of their working week.
You can also further support potential students within your business by providing them with access to our CeMAP Competency Refresher Course. It is designed to help candidates understand FCA regulations and how they affect CeMAP, as well as demonstrate the format and presentation of CeMAP case studies.
Our refresher course is also perfect for CeMAP-qualified employees who may be returning to a mortgage advisor role after some time away, which means they may need to catch up on their industry knowledge.
Who needs CeMAP training?
If you intend to offer professional mortgage advice, either as a direct service or as part of a wider financial advice offering, you’ll need a CeMAP or equivalent. Because the FCA mandates a recognised qualification, the CeMAP is a legal requirement – you can’t operate without it.
It’s not just mortgage advisors who may need a CeMAP; other roles include:
- Financial advisors: Wealth management professionals who focus on investments, pensions, or insurance may decide to obtain CeMAP to expand into mortgage advice. Considering the vital role a mortgage plays in most people’s financial health, expanding your qualifications helps you better advise your clients for a more holistic view of their entire financial portfolio.
- Estate agents: Any estate agent who may want to start offering mortgage advice or partner with a mortgager broker will need a recognised qualification. If they do, they’ll need to obtain a CeMAP so they can provide in-depth, legally compliant advice on mortgage products.
- Bank employees: Some banking professionals offer financial advice to clients as part of their role. If that advice includes mortgages, they’ll need to pursue CeMAP. Bank employees who want to upskill and advance into an advisor role should consider CeMAP as part of their plan.
- Compliance officers: With mortgage regulations becoming increasingly stringent, compliance officers need a deep understanding of mortgage law and practices if their role involves any financial aspect. CeMAP training helps you make sure your practices align with legal and regulatory standards.
CeMAP is just one specific compliance requirement for any business providing financial advice. Your business likely has far more diverse compliance training needs, which our course libraries cater to.
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