Studying for CeMAP

Legacy_user

I hope this is in the right section. I'm pregnant and due to go on maternity leave in Aug. I don't intend on returning to my job and am keen to look into studying CeMAP (this will be a career change for me). Just want some advice really, is it impossible to do as a mum and without any experience in the finance industry? I'm still young and career driven, I don't have A levels unfortunately but lots of GCSEs and am otherwise a bright, quick learner. I'm currently in a senior marketing position in the retail industry. Am i out of my depth? I don't want to invest my money into a qualification that isn't going to take me anywhere or that I won't be able to obtain.

Advice on where to start and general overviews appreciated also!

Thanks

holly_hobby

If you are not currently (or prev) in a lender or mortgage enviroment, and have absolutely no prev mortgage advice and/or arrangement knowledge or exposure, you will find succesful self study very difficult - although not impossible. And there are various residential/study workshops being offered to aid exam success- just google and they'll all appear for you.

Following succesful examination, I assume you want to enter as a mortgage adiviser ? If so, then again with no prev experience or underwriting knowledge, you will be best to seek a trainee employed position with one of the high street banks or an estate agency - at least until you have had some exposure to basic underwriting requirements, and experience over time of the typical cases and issues that can come up when placing and writing mortgage business (although everyday can be a school day even with yrs of experience, the unexpected can always rear its head to test us !)

CeMAP is an IFS exam - here's the link -http://institute.ifslearning.ac.uk/Qualifications/QualificationsinMortgageAdvice/CeMAP.aspx

The other route is CII - Mortgage Certificate - http://institute.ifslearning.ac.uk/Qualifications/QualificationsinMortgageAdvice/CeMAP.aspx .... but if you have no prev mge experience I do think CeMAP would be the most beneficial and comprehensive route for you, as it has more concentration on the UW side of things - which will help with basic understanding of the overall process.

Hope this helps ... good luck

Holly xx

ACG

Getting CeMap is the easiest bit as it ultimately comes down to you to pass the exam. Personally i sat a different exam but it amounts to the same thing, CeMap 1 is difficult because its boring and nothing to do with mortgages in the main - its all about the financial markets and the FCA etc.

Cemap 2/3 are not so bad as they are about mortgages, if thats what you find interesting then it should be ok... personally i passed the equivalent to 2/3 by just having a quick read through the book (my background was insurance) where as Cemap 1 took me about 3 attempts.

The hardest part will be getting a job and CAS (Competent advisor status) as this relies on other people who are in a position to signing you off as competent.

System

Thanks. Is there any kind of funding for CeMAP or studying in general if i was to leave my employment to study? I have a fianc! and he is obviously in full time work so we aren't entitled to any help benefits wise if i was to be out of work as he earns just over £30k.

I need to weigh all this up before i decide to do it. I'm frightened i wont be able to cope studying at home, working full time and having two young children.

holly_hobby

No, you'll have to fund yourself if you're not in a mge related role where your employer will support your study as part of your position.

Holly

PeacefulWaters

What are your income expectations?

System

From what I've read online, in my city if you were to join a high street lender you're looking at £25-35k + ote, depending on experience.