Timestamps
0:45 = Module 2 (MORT)
2:45 = What does CeMAP 2 cover?
3:47 = Costs
4:25 = How to study for CeMAP 2
5:45 = Conclusion
A guide to CeMAP 1:
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Mortgage Advisor jobs:
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Mortgage Advisor playlist:
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Contact us:
Email: enquiries@premierjobsuk.com
Phone: 0208 0044 154
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Some of our most popular content here at Premier Jobs UK covered the CeMAP qualification. However, at this point, some of this content is over a year old. As such, we thought it would be useful to revisit this qualification in more detail in 2022 – module by module to provide a more detailed and up to date account of the whole qualification. In this blog, we will cover the second module known as CeMAP 2.
We will release further videos and blogs on the additional modules known as CeMAP 1 & 3. When these are posted we will be sure to link those here:
CeMAP 1
CeMAP 3
The good news is that the hardest part may well be over, as many find CeMAP 1 to be the most difficult module out of the 3.
Even Beacon Financial Training, one of the recognised ALSPs says that, in regard to CeMAP 1 “By doing CeMAP 1 first, you will have done the hardest part for most people and many people find CeMAP 2 & 3 relatively easy after CeMAP 1.”
What is CeMAP?
The Certificate in Mortgage Advice and Practice (CeMAP) is the industry-standard qualification for Mortgage Advisor’s and is provided by the London Institute of Banking and Finance (LIBF). Many businesses and Mortgage Advisors alike view CeMAP as the go-to Mortgage Advice qualification so if you are looking for a career as a Mortgage Advisor this is the place to start!
What is a Mortgage Advisor?
Mortgage Advisors help their clients find the best mortgage deal for purchasing their homes, for many it will be their first time so you will assist them throughout the process. You will build relationships with various clients and learn about their circumstances to provide them with the best available deal.
We have extensively covered the ins and outs of what Mortgage Advisors do and how to become a Mortgage Advisor on our blog and YouTube channel.
Module 2 – Mortgages (MORT)
Mortgages is the second of three modules for the CeMAP qualification commonly known as ‘CeMAP 2’ and consists of four separate units:
Unit 3: Mortgage Law, Policy, Practice, and Markets
Unit 4: Mortgage Applications
Unit 5: Mortgage Related Protected Products (If you have already completed the Certificate in Protection, CertPro, then you will be exempt from unit 5)
Unit 6: Mortgage Payments Methods and Post Completion Issues
We covered Unit 1 & 2 in our last blog, A guide to CeMAP 1, so make sure you check this out if you haven’t already.
How is CeMAP 2 tested?
All units are tested using a two-hour Pearson VUE electronic exam each with 50 multiple-choice questions.
The exams can be taken at a time and location of your choice at over 150 Pearson VUE test centres across the UK with the benefit being that you will receive your results on the same day.
You will have 12 months to complete each module and sit the exam. Your first exam is included in the registration fee for each module. If you wish to retake an exam you will need to pay a resit fee. We will go more into the fees associated with CeMAP two later in this blog.
How long does CeMAP 2 take?
The entire length of CeMAP is 6 – 12 months so it is likely that CeMAP 2 will take around 2 – 4 months to complete.
The beneficial thing with CeMAP, as stated by the LIBF, is that “everything is online, you can study at a pace that suits you” meaning unlike more traditional qualifications where you have to take hours of in-person study, the LIBF allows students to fit the qualification alongside their personal commitments and work life.
What does CeMAP 2 cover?
Clarity Financial Training states that your studies will cover:
The house buying process
Buying property at auction
The Mortgage Conduct of Business Rules
The economic and regulatory context for giving mortgage advice
The role of a Mortgage Adviser and providing advice
Types of security
Fees and charges involved in arranging a mortgage
Property defects and their implications
Principal factors affecting the value of property
Types of valuation and surveys
Types of mortgage and their features
Mortgage related protection
Additional finance and debt consolidation
Mortgage arrears and other breaches of the Mortgage Deed
Legal rights and remedies available to lenders in respect of non-payment from the borrower
How much does CeMAP 2 cost?
Module cost – £190
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