CeMAP (LIBF) vs Certificate in Mortgage Advice (CII)

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Premier Jobs UK - Financial Services Recruitment

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In the UK to provide Mortgage Advice, you must have a qualification recognised by the Financial Conduct Authority (FCA). If you don’t have a recognised qualification, you can’t legally provide regulated Mortgage Advice in the UK.
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Although there are many mortgage qualifications the two main qualifications that are recognised as industry standards come from the two main (CeMAP and The Certificate in Mortgage Advice) Financial Services qualification providers; the London Institute of Banking and Finance (LIBF) and the Chartered Insurance Institute (CII). Both of these providers have an array of qualifications covering Mortgage Advice, Financial Advice, Paraplanning and more! We have covered most of these core qualifications on our blog and KZfaq channel and we will reference any relevant in-depth content throughout this blog.
What is CeMAP?
The Certificate in Mortgage Advice and Practice (CeMAP) is an industry-standard qualification for Mortgage Advisor’s and is awarded by the London Institute of Banking and Finance (LIBF). For more in-depth detail on the CeMAP qualification check out our KZfaq video on the subject.
CeMAP is broken down into three units commonly known as:
CeMAP 1 consisting of…
UNIT 1: Introduction to the Financial Services Environment & Products
UNIT 2: UK Financial Services and Regulation
CeMAP 2 consisting of…
UNIT 3: Mortgage Law, Policy, Practice & Markets
UNIT 4: Mortgage Application
UNIT 5: Mortgage Payment Methods & Products
UNIT 6: Mortgage Arrears & Post-Completion issues
CeMAP 3 consisting of…
UNIT 7: Assessment of Mortgage Advice & Knowledge
Benefits of CeMAP
CeMAP can be the start of a lucrative career as a Mortgage Advisor; the job board reed stated that the average Mortgage Advisor earnings were around £50,000
As an experienced Mortgage Advisor, you can start to build up your bank of clients and as such build up your pipeline of business
Many Mortgage Advisor roles have uncapped earnings. Plus, you could have the option to become a self-employed Mortgage Advisor which typically will provide the added benefit of flexible working
Being a Mortgage Advisor is a fulfilling career whereby you can make a real impact on people’s lives by allowing to get involved in the property market
Many Trainee Mortgage Advisors need some level of CeMAP for entry-level jobs
What is the Certificate in Mortgage Advice?
The Certificate in Mortgage Advice is a level 3 qualification that meets the FCA’s qualification requirements for mortgage advisers. Upon completion, it allows CII/PFS members to provide professional Mortgage Advice in the U.K and also to use the Cert CII (MP) designation in their name.
It is broken down into two units; one compulsory unit which is CF6 (Mortgage Advice) and then an additional unit of either R01 (Financial Services, Regulation and Ethics) or CF1 (UK Financial Services, Regulation and Ethics). For more in-depth detail on the Certificate in Mortgage Advice qualification check out our KZfaq video on the subject.
Benefits of Certificate in Mortgage Advice
Broken down into separate units making it more manageable
Some choice in what units you do
The result is instant when using MCQ
Extra study material is available if you need it
It allows you to access the benefits that come with being a Mortgage Advisor which means:
Uncapped earning potential
Flexible
Costs less than a degree
Cost differences between CeMAP and Certificate in Mortgage Advice
CeMAP = £570 (£190 per module)
Certificate in Mortgage Advice =
Option 1 (R01 + CF6) = Member = £440.40 or Non-member = £573.80
Option 2 (CF1 + CF6) = Member = £376.22 or Non-member = £459.00
Therefore, the Certificate in Mortgage Advice option is the cheaper option by around £193.78 (if you are going with the cheapest option). However, by going with the Certificate in Mortgage Advice you will also incur an annual membership fee of £130 plus a one-off admission fee of £37.
Which qualification is quicker?
CeMAP takes, on average, 12 months to complete and in 2019 the LIBF reported that “the total qualification time for completing CeMAP is 230 hours.”
Whereas, the Certificate in Mortgage Advice has a Total Qualification Time of around 160 hours.
Therefore, the Certificate in Mortgage Advice is quicker by around 70 hours. Although, it should be noted that different students for different qualifications could take longer or shorter depending on various other factors such as personal commitments, their level of understanding and more.

Пікірлер: 13

@sttony7647 Жыл бұрын

Thanks for posting. I am a lawyer dealing with the legals of Equity Release so I come across many ER illustrations, advice from the main players. Being curious, I started to research what quals ER's/mort advisors need and so on............... I've landed here. LIBF or CII seems to be what I have found out. From a personal point of view... I am likely to undertake exams from one of those bodies because I have an interest in learning. Salaries seem to be comparable to lawyers with 4 years plus experience without the 6 years start to finish to become a lawyer/barrister/.solicitor etc. I will stick to being a lawyer though... 😀

@ug1166 2 жыл бұрын

Thank you for your excellent videos. With regard to CII qualifications it appears that you must have R01 . What is the difference between CF1 and R01 . Would it be better to do R01 instead of CF1 so that you can use the pass on R01 on other qualifications of CII-Many Thanks

@PremierJobsUK 2 жыл бұрын

Hi There, You can have either R01 or CF1 for the Certificate in Mortgage Advice so it doesn't matter on that front. I'm not too sure what other qualifications you could use R01 with but if that is an option that sounds like a good idea. Thanks for your comment - I hope this helps. Kind regards, Taylor Maddock Marketing Executive

@the_one1001 11 ай бұрын

Do the R01 it opens more doors

@j.m3620 2 жыл бұрын

Hi! Great video, appreciate the content. I have a couple questions when you have time, I am currently considering a career switch to a self-employed Mortgage Advisor. I will be mentored by a friend, he currently runs his own business with 2000 clients. I would be working alongside him, starting with his training, guidance, and leads. This will be a complete career switch for me (Currently a Personal Trainer). Would you consider this to be a good avenue to start? Even with no experience? Lastly, how much revision/ time is required to pass the CF1 and CF6 exams? Could you pass in months? Years? Providing hours of daily revision. Thanks a lot for your help.

@PremierJobsUK 2 жыл бұрын

Hi J.M, Thank you, means a lot! That sounds a great opportunity for you and seems that it should definitely get you well underway on your journey as a Mortgage Advisor. Often the two obstacles for Trainees is access to leads and mentoring, which sounds like you have both! In respect of CF1 & CF6, with hours of daily revision and opportunity to apply your on the job learning, I would imagine you would have both passed in both within months. Ryan

@j.m3620 2 жыл бұрын

@@PremierJobsUK Thanks a lot for the response! Appreciate it!

@fzia444 2 жыл бұрын

Hi Sir, Im looking to move to canada next year but would like to gain some experience and study while im here in uk.I can not study the Ontario Mortgage agent course as of now as im out of Canada.What best advice can you offer me?(My goal is to land in canada with some sort of mortgage advisor experience),I'll apprecite your response :)

@PremierJobsUK 2 жыл бұрын

Hi There, Thank you for your comment, it is likely that the Canadian Mortgage Advisor market is very different to the UK market so my advice to you would be to look into how you can best tailor your experience to this market as they will not likely accept UK experience. I would suggest making a start on the Canadian qualification(s) so that you have something to show potential employers. Hope this helps. Kind regards, Taylor Maddock Marketing Executive

@Andrew-sz7vh Жыл бұрын

Hi I’m looking on going ahead with one of this course. When I get qualified, do you help me to find a job? Thanks

@PremierJobsUK Жыл бұрын

Yes once you are qualified, get in touch! All our contact information is in the description.

@navneetnirwan2645 2 жыл бұрын

I want to start my career in mortgage advisor..should I have to do both or I can do one

@PremierJobsUK 2 жыл бұрын

Hi Navneet, You should only need one of these qualifications to provide Mortgage Advice. If you are just starting your career, we have a blog that you may find useful "The COMPLETE guide to becoming a Mortgage Advisor in 2021" - bit.ly/3BYMtjd Any more questions please let me know. Kind regards, Taylor Maddock Marketing Executive