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Certificate in Mortgage Advice and Practice (CeMAP)

CeMAP is the benchmark qualification for the mortgage industry, any individual who advisers customers on mortgages & re-mortgages is required to pass the CeMAP course and exams

CeMAP comprises of three modules:

• UK Financial Regulation

  Uk Financial regulations focuses of the purpose and structure of the UK financial services its main focuses are the financial services environment and regulation of the environment respectively.
  
  Covers:

  • UK financial services industry structure
  • Financial asset classes
  • Financial services products
  • Financial advice and regular reviews
  • Legal concepts
  • UK taxation and social security systems
  • Inflation, interest rate volatility
  • Non tax laws
  • FSA regulation
  • FSA's conduct of business rules
  • Anti-money laundering rules
  • Complaints and compensation
  • Data Protection Act 1998

• Mortgages
  
  

  The Mortgages module is split into four units and focuses upon, law, practice policy and markets, application, payments methods and products and post completion issues.

  Mortgage Law, Policy, Practice and Markets
  
  
  • Definition of a mortgage
  • House buying process
  • Common types of borrower
  • Mortgage Contact of Business (MCOB) rules and the legislation
  • The role of the mortgage adviser
  • Additional security
  • Fees and charges
  • Value of property
  • Valuation and surveys
  • Repayment options
  • Mortgage products and interest rates
  • Mortgage associated insurance
  • Raising additional money
  • Transferring mortgages
  • Debt consolidation
  • Breaches of the Mortgage Deed
  • State provisions
  
  Mortgage Applications
  
  
  • The role of a mortgage advisee and the importance and principles of providing advice, including the key factors affecting the advice given;
  • The implications for consumers of 'gazumping' and 'gazundering';
  • The fees and charges involved in arranging a mortgage, where these apply, the services they cover, when they become due, which are refundable and how the opportunity for refunds diminishes as the process nears completion;
  • The principal factors affecting the value of property, including their implications for consumers seeking mortgages and when consumers should be referred for specialist advice;
  • The different forms of valuation and survey and which might be appropriate for different properties and/or the borrower's circumstance;
  • The need to obtain Local Authority planning consent for house developments/extensions.
  
  Mortgage Payment Methods and Products
  
  
  • The key features of the different types of mortgage repayment options and their benefits for different types of borrower;
  • The key features of the common types of mortgage product and interest rate options;
  • The structure and features of other types of mortgage and when they might be suitable for borrowers;
  • The main features and functions of different forms of life assurance and other insurance (e.g. mortgage payment protection insurance (MPPI); life; accident; sickness and unemployment (ASU) insurance; building insurance; contents insurance) associated with arranging a mortgage.
  
  Mortgage Arrears and Post-Completion Issues
  
  
  • The principles and procedures associated with raising additional money and the circumstances when further borrowing might be appropriate;
  • The principles, procedures and costs associated with transferring mortgages;
  • The principles of using mortgages within debt consolidation arrangements;
  • The implications for the borrower of the non-payment of mortgages, other breaches of the Mortgage Deed, non-payment of building insurance and the options available;
  • The legal rights and remedies available to lenders in respect of non-payment from borrowers;
  • The main provisions made by the State to assist consumers in the difficulties over the repayment of mortgages.
  • Assessment of Mortgage Advice Knowledge
    
    
• Assessment of Mortgage Advice Knowledge syllabus

  The final knowledge assessment module requires you to apply the knowledge and understanding of modules UK Financial Regulation & Mortgages by applying suitable mortgage solutions within the regulatory and ethical framework.
  
  Analyse consumers circumstances

  • Apply mortgage solutions
  • Identify consumers needs and make suitable recommendations
  • Understand the advice process, UK Finance industry and the different types of mortgage solutions

CeMAP has been reviewed and updated to meet the needs identified by the Financial Services Skills Council (FSSC). CeMAP is accredited by the Qualifications and Curriculum Authority (QCA), and incorporated into the National Qualifications Framework

All Ocean Mortgage Advisers have passed the Certificate in Mortgage Advice and Practice (CeMAP) and are fully qualified to give help and advice when arranging your mortgage .

All help and advice are under absolutely no obligation

A Simple Four Stage Process >>

1. NO OBLIGATION ADVICE   Submit enquiry form on-line. Your Personal Mortgage adviser will then discuss your requirements with you and recommend to you a mortgage from our panel of lenders.

2. MORTGAGE DETAILS SENT   Details of your mortgage are sent out to you usually within 48 hours, with pre-completed forms for you to read, sign and return to us by post.

3. APPLICATION PROCESS.   Ocean will process the application for you, dealing with any third parties on your behalf including surveyors. Our solicitors will send out a new mortgage deed to you, which you sign and return to enable completion.

4. COMPLETION   Upon completion, your previous mortgage company is paid off, you receive any extra monies due and your new mortgage begins with your new lender.

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