The ifs School of Finance, today confirmed that the number of individuals registering to take CeMAP® has remained buoyant despite the current troubles in the mortgage market.
Mark Roberts Head of Financial Regulation at the ifs School of Finance said;
“As the mortgage industry endures relatively tough times, with the number of mortgage products down from 15,000 a year ago to just over 3,000 today, some might be surprised that the number of people registering to take CeMAP® remains so healthy.
However, with some consumers struggling to find an appropriate mortgage product, the help and advice of a qualified adviser is likely to be more important than ever. Consumers increasingly recognise this. Figures from the Association of Mortgage Intermediaries confirmed that 10% more First Time Buyers have sought professional mortgage advice this year than last, with a similar figure for the re-mortgage market.
There is a slight reduction in those registering to take CeMAP® during the first 6 months of 2008 compared to the same period in 2007 but when you consider 2007 was a record year for CeMAP® registrations this is not surprising. Our figures for 2008 remain buoyant and, if registrations continue at the current rate, the year should prove to be another successful one for the industry - with a healthy influx of newly qualified individuals able to give competent and knowledgeable advice to consumers.”
CeMAP® meets FSSC requirements, is accredited by the Qualifications and Curriculum Authority (QCA), and is incorporated into the National Qualifications Framework at level 3. CeMAP® or an equivalent qualification is a legal requirement for anyone giving mortgage advice in the UK. More than 80% of mortgage advisers in the UK hold CeMAP®.
