CeMAP module questions

cs95aam

Hi everybody,

I need to train as a mortgage advisor. I have no previous experience in the field. I'll be working with somebody who wants to start this is a new business.

I've just started reading module 2 which contains mortgage law knowledge.

Do I need to do module 1? Also, should I do module 1 first before module 2? I understand module 1 is more about general financial knowledge.

Thanks

ACG

I would say get number one out of the way.
Its soooooo dull its untrue. Get that out of the way and the rest arnt too bad to do.

Alternatively go down the CII route and do CF1 and CF6 (only 2 exams then).

cs95aam

Thanks for the response. I appreciate it.

How does going down the CII route differ? Are the two exams more difficult?

Sorry I don't know much about this area. I've just been asked to pass CeMAP.

Mike3

I'm not a mortgage adviser but like you decided to complete the CeMap 1,2 & 3 - good luck. do CeMap 1 first, it makes sense and its the most boring IMO. I strongly recommend you buy (off an auction site or a mate) the Competence Development Tool - without that I dont think I would of passed.
Good Luck, I qualified 3 years ago and never sold a mortgage developing houses is far more fun

ACG

CII route is for financial advisors with a bolt on exam (CF6) for mortgages.
CF1 and Cemap1 and going to be pretty much the same. CF6 i believe is a mixture of Cemap 2 and 3. I dont think it will be any more difficult as such.

I spent 2 weeks reading CF6 and sat the exam. Read the book, sit some mock exams, have another read and you shoudl be fine. Theyre not rocket science but you do need to read the book.

holly_hobby

Yes you need module 1 or CF1/RO1 for CII - as this is regarding regulation and the foundation under which you will/must be providing compliant advice.

IFS CeMAP is coming more from the lenders point of view, and is a more detailed study route (3 exams, mods 1-3 ) but provides what is largely considered within the industry the more rounded qualification. (you'll find that mge adviser posts advertised frequently request the applicant to be CeMAP qualified).

CII Mortgage Certificate, is a an altogether less intense route, and is achived by just 2 exams CF1 or RO1 plus CF6 - as such, and in my opinion, this is more suited to those individuals whom already have some experience and knowledge of the mge industry and underwriting process. to apply in addition to the basic knowledge gained from CF6 study, and probably looking to go self emp when qualified (given the typical CeMAP requirements of employed positions).

The secret to understanding what the examiners are looking for, and becoming familiar with how the questions are phrased, are past papers.

Of course both IFS and CII offer study aids and intensive courses (which may help if you have absolutely no expereince of FS or mortgage sales/underwriting/processing).

Hope this helps

Holly

opinions4u

I can't think of many things tougher to succeed in the setting up a new business giving mortgage advice when times are so tough.

Good luck.

Me? I'd seriously consider other career paths.

kingstreet

Seconded.

ACG

Haha thirded? :P
Ive been doing this job for 18 months. I earnt more 10 years ago doing my first part time job than i did in my first year of trading. This year is looking more promising - its very very difficult to get in front of people but when you do there is money in it.

Thankfully i had my girlfriends wage to rely on. I would say if you dont have clients to go at or your solely relying on your own income then you will struggle in the first 2 years. Without my girlfriends income and doing another job on the side i would have had to give up and get a "proper" job.
This is something ive wanted to do for the last 8 years or so and it took me a kick up the backside and a redundancy package to take the leap. I absolutely love my job and would be very reluctant to give it up but it is very difficult to get on your feet. The easiest bit is sitting the exams, the hardest bit is finding a network who will accept you and getting in front of clients.

samcarroll00243

Does anyone have the cf6 coursework they could let me have?
Returning to work after a career break and need to keep my outgoings down as much as possible?

Thank you so much
Samantha

amnblog

Fourthed - if there is such a thing.