Continuing demand for Certificate in Mortgage Advice & Practice

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by Lin Freestone

Despite the recent problems that have been affecting the mortgage market, the Head of Financial Regulation at the ifs School of Finance, Mark Roberts, has reported that the number of people registering to take the Certificate in Mortgage Advice & Practice has remained constant.

The certificate, CeMAP, is the benchmark qualification for the UK mortgage industry, and 80% of mortgage advisers in the UK hold CeMAP.

With the number of mortgage products down from 15,000 a year ago to just over 3,000 today, it might seem surprising that the number of people registering to take CeMAP remains so healthy.

Mark Roberts considers that, with some consumers struggling to find an appropriate mortgage product, the help and advice of a qualified adviser is likely to be more important than ever.

Figures from the Association of Mortgage Intermediaries confirmed that 10% more first time buyers have sought professional mortgage advice this year than in 2007, with a similar figure for the re-mortgage market.

There has been a slight reduction in the number of people registering to take CeMAP during the first six months of 2008 compared to the same period in 2007, which was a record year.

If registrations continue at the current rate, the year should prove to be another successful one for the industry, with a healthy influx of newly qualified people able to give competent and knowledgeable advice to consumers.

The ifs School of Finance works closely with the financial services industry to provide tailored learning for some of the world’s best-known financial services providers.

CeMAP meets FSSC requirements, and is accredited by the Qualifications and Curriculum Authority and incorporated into the National Qualifications Framework at Level 3.

CeMAP, or an equivalent qualification, is a legal requirement for anyone giving mortgage advice in the UK.