Studying CeMAP, too young?

ShannanLeanneeee

Good Evening, (I would appreciate if any mortgage advisors would read all of this)

I am looking for some advice regarding studying for the CeMAP qualification. I am turning 18 in May so I am aware my age might be a disadvantage, however I have been working as an apprentice as a mortgage administrator in a small brokerage since August (2016).

At the office it's just myself and my boss since it's her own company. I understand a bit about the industry through research carried out in my own spare time, I understand about the FCA , (the old FSA), BOE, LIBOR ect.. I am also very familiar with mortgage bespoke software and use The KEY, Mortgage stream and Mortgage Brain at work. I know that my knowledge isn't a lot however I am committed to learning since I really enjoy working in this industry.

My apprenticeship ends in September and I get every Friday off of work so I would be able to study then and at weekends (I'm not really one for partying haha). I obviously understand that it could take me over year or more to feel comfortable to take the exams however I feel I can easily make the commitment. I also understand this will be costly however I am a good saver and have been saving since I started working. I would also have support from my boss even after my apprenticeship ends in September, I know she would be there if I needed any advice or guidance.

I am just looking for some opinions on this, do you think this could be possible or do you think I'm too young?

TIA:j

minimike2

Good for you.

I wouldn't say that you are too young to study it. It sounds like you have a plan - Very commendable for someone of your age to be so dedicated and taking a sensible approach to your future.

Best of luck.

ACG

You probably have more experience than I did when I became a broker.
I had never heard of libor until I began studying.

Go for it, you are obviously interested in it and are picking it up well. I doubt it will take you too long to be up and running with some support. I went down the CII route (CF1 and CF6) rather than CeMap with the IFS but it took me less than a year with no Mortgage experience at all (my experience was gained from the insurance side).

Your age will be a factor when doing appointments, mine was a little when I started although growing a bit of a beard helped to overcome that, going off your username I am assuming you would probably not be up for that. If you can come across as confident you will be fine.

Getting your exams is the easy bit, getting CAS is the hard bit so try to make as many contacts as you can. If your current employer does not keep you on, you will need someone to take you on to help you obtain CAS.

Best of luck.

Right_bubble

No such thing as too young! I started mortgage advice at 19 and enjoy it as much as when I started.
6 years later I am one of the most respected and experienced advisers in my company.
I work in the city now and I still have people expect me to be new or inexperienced. Only a few times in my years have people mentioned my age negatively but it usually is because they are looking for excuses to try and will always go for an easy option. I've had the same about me being a woman and my race and even my office location! I was asked once how someone like ME could work there haha. Surprisingly enough when I mention my husband or wedding etc attitudes change. This is rare so honestly I wouldn't worry.

Good luck!

Goonie90

You're in the perfect place to succeed. I am 26 and did DipFA last year without any financial knowledge at all and found it immensely interesting and not too difficult. I wish I had been in your shoes at 18. Don't let your age put you off, I am a contractor and have worked on a number of projects and I have always been 10+ years younger than anybody else in my role. Once you are qualified people will be suprised at how young you are to have that much experience and knowledge behind you, take that as a compliment and don't be put off by it! Wish you all the best with it!

tom2205

You're never too young to start. As Right_bubble said, people will judge you based on age thinking you don't know what you're talking about but, in all honesty, even with just CeMAP and no experience, you will know a hell of a lot more than the average client. I've had people say to me 'do you even have your own mortgage' because I'm 20 years younger than them arranging theirs.

Don't be put off by your age at all. If anything pat yourself on the back, a fair amount of broking you will learn from doing the job itself and there is only so much CeMAP will teach you.

LouRich

This has been very useful for me to know. When you say you had no experience, it this none at all? I am looking for a complete career change so wanting to go into mortgage advice. I am planning on doing my CF1 and CF6, and learning this all from scratch. Is this doable working full time along side this?

Very much appreciate your response.

YHM

Sounds like a plan. Always need new blood in mortgages.

Start off with CF1 to give you a good rounded knowledge of the financial industry and then move onto CF6. If you are serious about getting into mortgages, then maybe contact some local brokers, to see if there is any shadowing / mentoring opportunities local to you

amnblog

What is more important is not whether you take CeMAP, or even whether continue your career in mortgages, it is having the foresight to improve your knowledge and skills.

Whatever you decide to do, maintain this attitude and you are sure to have a lucrative and fulfilling career.

David_White

Definitely not too young, this could even be your advantage.

In terms of return on investment I don't think there's many better qualifications than CeMAP.

Ask loads of questions, work really hard and stay focused on what you want to achieve.

You're set for success, good luck.

Ant.Evs

Good for you for going for it!

For anyone thinking of doing it. Do it, no matter your age.

To give you all a bit of an idea... Im an I.T engineer. That is an I.T engineer for a finacial institution.
In order to understand my "customer" better i decided to do cemap and thought it was going to be rock hard... It was in many ways, loads of learning and starting with no understanding of the behind the scenes of mortgages i too felt i was out of my depth.

It took me around 3 months to complete the three elements. I also started on cemap 2 rather than 1 as cemap 1 is extreamly boring in my opinion.

Anyway, what i am trying to get at is if i can do it with no knowledge of the industry at all anyone can and certainly those that already have exprerience.

This may help also. I didnt read the books at all. i used audio books, or rather an audio of a tutor teaching you cemap. It was amazing!

You can get them here http://www.archertraining.co.uk/CeMAP_Products.htm
I have nothing to do with the company there i might add but found them after a bit of googling when the books arrived and felt a bit daunted having to read them!

Anyway.. best of luck!