Providing Mortgage Advice

Providing Mortgage Advice

• Employed and working within the financial advice sector
• Visited regularly in your workplace by a Babington assessor
• Working towards the ifs CeMAP
  

These qualifications are focused on the practical skills and knowledge that an employee will need to be a successful mortgage advisor.

QUALIFICATION STRUCTURE – EDEXCEL AWARD IN PROVIDING FINANCIAL ADVICE

To achieve the Level 3 Award you must complete THREE units including the 2 mandatory units:

Mandatory Units (2 Units)
Unit 1

• Gathering information needed to provide financial advice

Unit 2

• Analysing information necessary to provide financial advice
• The optional unit for Mortgage Advisers is:

Unit 4

• Advise on Mortgage Solutions

KEY SKILLS

Application of Number

Communication

These 2 units comprise of a small portfolio of evidence and 2 externally marked tests. You will receive 2 separate certificates for these. If you have recently completed your GCSEs you may find that you are exempt from some or all of the key skills.

TECHNICAL CERTIFICATE

This is usually the ifs Certificate in Mortgage Advice and Practice (CeMAP) which consists of three modules:

• UK Financial Regulation
• Mortgages
• Assessment of Mortgage Advice Knowledge

Modules one and two are usually completed prior to commencing work as a Mortgage Adviser.

The first two modules are assessed by a two-hour, 100 question, multiple choice examination. While the third module is also a two-hour multiple-choice examination, it comprises six case-studies each containing ten questions. These are examined electronically with results given immediately.

What is involved?

On a first visit to an employer we would explain how an Apprenticeship framework functions and what the pros and cons were.

If it were agreed that we would proceed we would make an appointment to return to initially assess the potential apprentice, to check that the job role has sufficient breadth and depth to allow completion of the NVQ standards, to carry out a health and safety check (a requirement in order to access government funding), to talk to the supervisor or manager and to the potential apprentice in order to gauge their commitment to the programme and to formally sign up both the broker and the apprentice. This list can readily be broken into two, or more, visits.

A candidate would then be visited approximately four weekly by their assessor. A visit would typically last about 1½ hours, of which perhaps 30 minutes would be spent with the assessor observing normal work, but the other hour would be ‘down time’ spent, ideally, away from the desk reviewing progress towards the CeMAP and the key skills and planning activities for before and at the next visit.