The UK Mortgage Industry and CeMAP Qualifications
Regulation of the UK mortgage market has increased in line with
the overall trend of consumer protection. It is generally felt
that hitherto the UK mortgage market has been under-regulated.
The financial scandals of the 1980s resulted in much tighter
control over the entire industry, not least self employed
mortgage advisors. It also resulted in greater clarity and
transparency with regard to contractual agreements, with the
introduction of The Mortgage Code. However, there was still a
long way to go. In 1998, banks paid out £1.3 million against
12,000 customer complaints - a 35% increase over the previous
year. Mortgages represent one of the biggest areas of complaint
with lock-ins and high redemption costs.
The principal problem facing the uk mortgage broker is increased
market regulation. In view of current market trends, self
employed mortgage advisors are increasingly looking to operate
with organisations which provide them with the requisite
infrastructure, enabling them to be competitive and meet ever
more stringent regulatory requirements. Consequently, Mortgage
Networks, IFA Networks are taking an increasing share of the uk
self employed mortgage advisor market. It does not end there as
a further tightening of the uk mortgage regulations took place
from 1st November 2004, when the Financial Services Authority
(FSA) took over from the Mortgage Code Compliance Board (MCCB)
and the need for CeMAP qualifications were introduced.
Because of this expansion, along with the development of
e-commerce, websites and direct sales, there has never been a
greater need for objective, experienced and professional
personal advice. Consumers need and want objective advice to
guide them through the mortgage maze. Self employed mortgage
advisors are taking an ever-increasing share of the market and
there is a continuing shakedown within the brokerage sector,
with Mortgage Networks expanding their influence.
However, since October 31 2004, estimates show that that the
number of CeMAP trained personnel who are qualified to advise in
the mortgage market have nearly halved. This loss means that the
response time for processing mortgage enquiries is likely to
increase, along with a rise in administrative difficulties and
the risk of compensation claims.
As a consequence of the uk regulations taking hold, there has
never been a better opportunity to look at becoming a mortgage
broker.
The uk mortgage market is a recession proof business, as when
times are good and consumer confidence is high, people tend to
borrow for cars, holidays, home improvements and many other
things.
Then, when consumer spending has peaked and the economy slows
down, many people experience difficulty repaying their debts and
meeting their other financial commitments. In such
circumstances, it is often necessary for them to consolidate
their debts into one lower monthly repayment by remortgaging.
Remortgaging clients, debt consolidation, raising capital for
home improvements, financing the purchase of holiday homes are
all solutions that you will be able to provide and it will keep
you very busy in times of recession.
Would you like to become a mortgage broker?
* Are you intent on being successful? * Are you determined to
become a high earner?
* Would you like to be in charge of your own destiny?
* Do you think that you would enjoy helping people with their
finances?
Well then .. this may just be the opportunity that you have
been looking for!
Become a mortgage broker and enjoy all the trappings of being
self-employed. Are you looking for the best CeMAP training as
the first step to become a mortgage broker?
To attain the CeMAP Qualification you must achieve examination
passes in each of the three CeMAP modules, namely:
CeMAP Module 1 - UK Financial Regulation
CeMAP Module 2 - Mortgages
CeMAP Module 3 - An assessment of mortgage advice knowledge
Train to be a mortgage broker
Would you like to see how we can fast track you on a CeMAP
training course to pass the CeMAP examinations and more?
Receive our CeMAP training and you could be a Qualified Mortgage
Adviser in just 10 Days! Now is your chance!
Our CeMAP training courses will give you the knowledge and the
industry qualification that you need to embark on a successful
career within the Financial Services sector. Training to be a
fully qualified Mortgage Adviser starts with obtaining a pass in
the Certificate in Mortgage Advice and Practice (CeMAP) papers
1, 2 & 3.
Our CeMAP training classes are based on groups of between 6-10
people for ease of control and ability to interact with the
tutor. We hold monthly courses on a national basis in various
parts of the UK.
CeMAP papers 2 & 3
We recommend that candidates take papers 2 & 3 together first,
as experience has taught us that candidates pick up the mortgage
terminology on these courses and then successfully apply them on
paper 1.
We fast track candidates in five days, Monday to Friday in a
hotel throughout various venues in the UK. One of our fast track
centres is bound to be in your area.
CeMAP paper 1
We fast track candidates in five days, Monday to Friday in a
hotel throughout various venues in the UK.
The most successful way to pass the exams is to study in a small
group, away from all the distractions of the home, family and
the television. We will help you to focus your mind on study,
with the clear goal of giving you the knowledge and technique of
getting you through the exams.
So what other things are important and why?
* What CeMAP training will you receive to help you to get
through your exams?
* Will you need to self study or be in a group?
Yes the opportunities are endless after CeMAP training and the
only restrictions are you and your desire to work hard and be
successful. The earnings of a mortgage and insurance consultant
can vary from £25,000 pa to £150,000 pa dependent on the
individuals ability and aspirations but one thing is for sure,
the ability to earn is in your own hands.
In partnership with you, our continued success depends on your
success, so we will be there to help and guide you every step of
the way.
If you're the calibre of person who can strive to succeed in
your own business then Money Marketing Limited is right for you.
One word of caution however, we do not guarantee to accept your
application if we do not consider you to be of the required
calibre.
Visit our website at http://www.cemap-training.org.uk for
further information
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