Becoming a mortgage advisor (cemap qualification)

MARKMAKAVELI

Hi,

Firstly, I am aware that experience is the main thing, the qualification is just the start Also I read the thread from 2008 about cemap.

I have decided I want to be a mortgage advisor. Only background I have is customer care, I'm 24, good communicator blah blah blah.

I have seen courses such as Beacon Finances, that say 90% first time pass rate on their 10 day courses, free re-sits if you do fail. £850 all in.

I am aware that alot of these places make their money through financing their courses to you at a high rate, this doesn't concern me.

I want to know, from people in the trade, are these types of courses worth doing? I plan to go for a mortgage advisor job as soon as quals are achieved. I'm prepared to start on a very low basic wage etc. Would anyone want me? Or like alot of companies now, do they want the experience as well as the qual? Or are companies happy to employ someone who they can mold from new?

Please please reply anyone!!!!

VIGILANT22

Qualify as a Financial Adviser, mortgage adviser waste of time....only the most experienced mortgage advisers will survive, particularly after 2012...go away and read about RDR....

MARKMAKAVELI

"will make individual investment advisers more personally accountable for their knowledge, skills, and professional conduct"

Is this what you were refering to Vigilant?

Would you be able to explain to me a little bit more as I'm not clear on the problem that you are alluding to. Thanks

VIGILANT22

Many exisiting IFA's will choose not to upskill and consequently change their status to a mortgage adviser...Many many mortgage advisers have left the industry as they have been unable to keep their head above water during the crunch...But the truth be known they needed to reduce the number of mortgage advisers...Dont restrict yourself to mortgages if you're looking for a career........



http://www.cii.co.uk/cii/membership/RDR/rdrchallenge.aspx

http://www.thepfs.org/pages/memberservices/RDR/professionalism.aspx

MARKMAKAVELI

To be honest Vigilant, my maths is ok, I could do percentages, ratios etc very comfortably but feel that with being a Financial anything, you would have to be A* at Maths, is that the case?

Thrugelmir

MARKMAKAVELI wrote: »

Hi,

Firstly, I am aware that experience is the main thing, the qualification is just the start Also I read the thread from 2008 about cemap.

I have decided I want to be a mortgage advisor. Only background I have is customer care, I'm 24, good communicator blah blah blah.

I have seen courses such as Beacon Finances, that say 90% first time pass rate on their 10 day courses, free re-sits if you do fail. £850 all in.

I am aware that alot of these places make their money through financing their courses to you at a high rate, this doesn't concern me.

I want to know, from people in the trade, are these types of courses worth doing? I plan to go for a mortgage advisor job as soon as quals are achieved. I'm prepared to start on a very low basic wage etc. Would anyone want me? Or like alot of companies now, do they want the experience as well as the qual? Or are companies happy to employ someone who they can mold from new?

Please please reply anyone!!!!

Check that the course fees include the exam costs.

VIGILANT22

MARKMAKAVELI wrote: »

To be honest Vigilant, my maths is ok, I could do percentages, ratios etc very comfortably but feel that with being a Financial anything, you would have to be A* at Maths, is that the case?

No..If you want to make a career don't go on those unknown courses......... study through the CII The Chartered Insurance Institute

http://www.cii.co.uk/financialservices/trainingandlearning.aspx

MARKMAKAVELI

Thrugelmir wrote: »

Check that the course fees include the exam costs.

I already have an they don't, exams are 3 x £135. Price isn't the issue for me, it is whether it is going to be worth it. Thanks for your reply Thrugelmir.

Leon_W

To be honest, if you are good at study and can learn from reading then the courses are a complete waste of time and money. I would go straight to http://www.ifslearning.ac.uk/ and get the course material and exam entry for CeMAP and do it at your own pace.

I also wouldn't worry to much about what Vigilant says above either. Yes, there are a lot fewer mortgage brokers about, but that is probably just because they were poor in the first place.

There is a pretty decent living to be had if you are good. Take it from one who knows.

Regards

Thrugelmir

MARKMAKAVELI wrote: »

I already have an they don't, exams are 3 x £135. Price isn't the issue for me, it is whether it is going to be worth it. Thanks for your reply Thrugelmir.

Often people are surprised by the cost of professional examinations, in any field. And sometimes feel duped when it comes on top of expensive course fees.

VIGILANT22

Take it from one who knows their is a much more interesting career to be had and a higher earning potential as a Financial Adviser than a Mortgage Adviser....

Mortgage advisers will become less and less and many who had IFA status will downskill to mortgage adviser come RDR.

Your earning potential is limited to proc fees somewhere in the region of 0.35% of the loan, commission on insurance products that can be clawed back if for whatever reason clients cancel...They scratch around trying to bulk up income on referral fees to solicitors, surveyors etc...

Then they have to compete with Dual Pricing.....lenders are offering products direct to consumer cheaper than if customers go through a broker