cefa/cemap advise please.

fairytale1

I worked underwriting mortgage apps for a bank; i decided to do my cemap. I have passed this now. However with the mortgage market slow I have struggled to find a trainee mortgage advisor jobs, I have also now been moved to a basic admin dept. I am only earning 13k pa.

I have decided to do my cefa in hope that I will have a further advantage when the market picks up again. (Plus my new job is so dull in want to keep my mind active and maintain my industry knowledge).

The ifs offer about 10 certificate qualifications and I hope to make my way through them all.

I hope to complete cefa by dec this year and then do the rest nxt year.

I have paid for these exams myself, and this has cost me allot of money & time.

Can anyone tell me if this is worth the effort, and what I will be looking to earn once I have done these? As I cannot afford to live on my 13k pa. (I have some sales exp but not much.

I am used to working 12hr shifts and am not put off by hard work.
My current employer is unable to offer me any opportunities due to the economic downturn. And as a single mum I am now getting desperate.

Thank you to anyone who has taken the time to read this.... Please advise.x

KiKi

Hi Fairytale

Sorry, I can't advise on the qualifications as I have no knowledge. But wanted to say that if it would help you, you could pop over to the Debt Free Wannabe Board (not just for people in debt!) and post a Statement of Affairs (SOA) - your incomings and outgoings - and people there will be able to offer some really useful advice on where you can make some really good savings in the meantime to make your money last a little longer!

I hope that helps a little.

KiKi

Dan_1976

Dont bother!

Get a proper job in a proper industry!

fairytale1

Dan_1976 wrote: »

Dont bother!

Get a proper job in a proper industry!

This is typical of me, when i decieded the cemap business was booming. After all my hard work the sector has flopped big time. (now i cannot find a job) i am now half way through my cefa and feel i have done far too much to drop it..

Dan_1976

I was probably being harsh. I think that governments using our cash to bail out banks and lenders is a scandal. We make mistakes we lose everything!

Finish it off, by the time you are trained you may find things better?

fairytale1

Dan_1976 wrote: »

I was probably being harsh. I think that governments using our cash to bail out banks and lenders is a scandal. We make mistakes we lose everything!

Finish it off, by the time you are trained you may find things better?

I Agree the bank i work for has got into a rite mess with lending too much money to people in debt, Now we are all wondering if our jobs are safe.

the only team thats busy is debt collections and repossessions..

If i do succeed in my career i hope i will advise well on the risks, rather than just "trying to get a sale"

I don't think people consider how much the economy can has an effect of their finances. The banks are to blame. commision should be based on good advice an not just on clinching the deal...

Dan_1976

If I could afford to I wish I could have got in to debt advice, the good kind. But I think the money is poor.

I got out of FS after nearly 10 years. I must say, other than the potential to earn loads as a broker and the guys I work with, I miss it like a hole in the head!

thejoose

fairytale_1 don't listen to the boo boys who tell you to leave the industry. I'm doing just fine and in fact I wish I had more hours in the day to get all the work done.

I'm not sure more qualifications are the answer at this point. Probably better if you can to find an employer who will support you through training. Where abouts do you live as I might be able to help you with this? My firm are recruiting and they support people through cemap and cefa.

C_£44,000

Hi. It would be worth taking your CeFa's if you are interested in a Financial Advisor / IFA type role. £13,000 for a CeMap qualified Mortgage Advisor would be selling yourself short.

If any Lending Institutions are hiring staff, then I would imagine that they would look to take on CeMap qualified staff with lending backgrounds rather than to train a novice from scratch. I would certainly quibble regarding the base salary. If you are not interested in being a Financial Advisor then you could always look at the Advanced CeMap with the Chartered Institute of Bankers. Good Luck!

Ian_Griffiths_Halifax

fairytale1 wrote: »

If i do succeed in my career i hope i will advise well on the risks, rather than just "trying to get a sale"

You redeemed your self there. In your first post you said

(I have some sales exp but not much).

Anybody in this industry who looks at arranging a mortgage as a Sales job should work for a bank and not as a broker. A brokers role is to look after the client.

There are lots of companies going to the wall just now and not all of them are bad, they may just not have the client base to survive.

I personally am looking for more staff on the mortgage and life assurance side but can't find any good advisers. They have either worked for bank's or estate agents. One guy even thought he was a Mortgage Adviser and he'd only ever worked in an incoming call centre for Abbey :rotfl:

Get qualified then approach an Independent Broker who has the time to teach you the ropes of how to give good advice. A lot of the job is down to experience and personality but look after your clients and you'll be ok.

fairytale1

thejoose wrote: »

fairytale_1 don't listen to the boo boys who tell you to leave the industry. I'm doing just fine and in fact I wish I had more hours in the day to get all the work done.

I'm not sure more qualifications are the answer at this point. Probably better if you can to find an employer who will support you through training. Where abouts do you live as I might be able to help you with this? My firm are recruiting and they support people through cemap and cefa.

Thank you for this, I live in Shipley, (about 10mins from Leeds/Bradford)