Why mortgage advisers should study CeMAP Diploma

19 March, 2021Gordon Reid

The Financial Conduct Authority (FCA) requires mortgage advisers to hold only CeMAP to practise. This hasn’t changed since mortgages became regulated in 2004. So why bother with CeMAP Diploma if you don’t have to? Here are three reasons to upgrade your qualification.

Learn how to deal with the complex ever-changing mortgage market

House key ringGone are the days when the choices open to mortgage customers were limited to two or three relatively simple product types and a small panel of potential lenders.

The financial needs of the modern consumer are far more varied.

People live longer, have different hopes and expectations, and face different pressures. Financial life stages are not as clear as they were, with unforeseen changes in circumstances becoming more common.

Add to this the impact of the coronavirus pandemic and government policies, such as the stamp duty holiday and recent introduction of the new mortgage guarantee scheme.

The need to understand a wider range of options, solutions, risks and implications, has never been greater for a mortgage professional.

CeMAP Diploma will help you:

  • better understand the financial impact of both global and personal changes on your mortgage customers
  • assess the risks which might apply to them and their attitude to these, and
  • provide tailored, skilfully communicated advice.

You’ll develop your knowledge and skills to ensure that your business not only survives, but positively thrives in this challenging environment.

Get ahead of the competition

According to the latest Financial Conduct Authority (FCA) figures, there are approximately 5,200 directly authorised mortgage intermediary firms. These employ 34,000 approved people and 14,100 appointed representatives.

But Covid-19 has changed the way we shop for goods and services.

Before the pandemic, most customers would have only considered speaking to a local mortgage adviser. Now, advice is offered remotely – sometimes by advisers hundreds of miles from the customer.

That means mortgage customers have never had so many advisers to choose from and you need to differentiate yourself.

Completing CeMAP Diploma will show customers why they can trust you to advise them on some of their biggest ever financial decisions.

Use it as part of your personal marketing strategy, and it could support a significant increase in your business.

You can add CeMAP Diploma to your emails, your website and your LinkedIn profile, to demonstrate your professional worth to colleagues, networks and competitors.

Invest in your CPD while meeting regulatory requirements

Developing your skills, knowledge and behaviours, is essential to maintaining professional standards. And it’s a clear expectation of the FCA.

However, keeping up with changes in products, best practices, and technological advancements requires a personal investment in your continued professional development (CPD). And if you sell insurance-related products, you’re required to complete a minimum of 15 hours CPD each year.

Studying CeMAP Diploma can contribute to your CPD and will refresh and expand your understanding of:

  • the UK mortgage marketplace
  • UK financial services regulation, and
  • the house buying process.

It will also expose you to more complex real-life mortgage scenarios and develop the research and analysis skills which are essential in staying up to date – even after you have completed your studies.

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Find out more and register for CeMAP Diploma