Am I wasting my time doing CeMAP?

inch_high

With everything in the news lately about lack of new mortgages, will there be a surplus of CeMAP trained people, who are fighting for fewer jobs caused by redundancies?I work at the Halifax at the moment dealing with broker applications ( I may have spoken to some of you brokers on here! ), would I be best sitting tight there for a while?Thanks

Perspective

Any qualifications that you acheive are good for you. Entering the mortgage arena now or later will still require CeMAP, you never know when an opportunity will arise. I would say continue with our stuides and good luck!

dunstonh

In the good years, half of all new advisers didnt survive two years. So, in the bad years it will probably be more. However, if prices drop, then first time buyers will increase and remortgages will still be there. The drop in movers will be offset.

The same reason why most of those that fail will still be the same. An inability to get enough clients or a lack of understanding of the business model they have chosen to go into.

There is a misconception that running an ad in a local paper is going to have customers running to you. Advertising does diddly squat. Mortgage business also has a long period from start to finish and you need to have the funds to reflect that. You also have to have the realisation that a lot of these people quoting high income levels are using IFA incomes and not mortgage only incomes.

MortgageMamma

I think its worth doing cemap, it can be useful for a lot of jobs in the industry. It is true there is a big drop out rate from this job but thats for a number of reasons, some people just find it too hard going full stop, some realise the long hours don't fit with family needs, others struggle to survive as they dont know when the next bit of money will be in the bank - if you've started you may as well finish. if you are thinking of giving up now, now the going is uncertain you should really ask yourself if you want to do this job because you will face a lot more uncertainty before you are a success.

judygarland

I passed my CeMAP exams about 7 years ago and have been just been made redundant. I've been offered a job but it is not anything to do with finance. I spent 6 weeks looking for something mortgage related and the problem I found was that most of the jobs I looked at were selling and targets. My experience is processing mortgages but I have not done anything face to face.

If you are in this industry at the moment and your employer is paying your CeMAP fees, you don't have a lot to lose and at least it is a recognised qualification in your profession.

Qual123

it gets said on here alot, but CeMAP is the easy part. Finding people to sell mortgages to is the tought bit!! Go for it, once its done then you dont need to worry about it anymore.

UK007BullDog

Keep on studying and then specialise.

MortgagesInc

I agree with most of the posts on here - keep studying, particularly if Halifax are funding this. There's certainly no harm in having your exams, and there will still be more than enough mortgage business for good quality advisers who do the best job for their clients.

When you do choose to move in to the advice side, just choose carefully who you decide to work for, or how you would find new clients should you wish to work for yourself. As mentioned above, the hardest part of the job is finding new clients, and it takes several years to build up a client/referal bank that would sustain you.

Conrad

In this market you have to be resilient, creative and have a lot of drive.

Many do not understand the nature of the role and think it's all about pushing a few buttons and finding 'the best deal'. If only it were so.......