Qualifications Mortgage Brokers Should Consider After CeMAP

While the average income for a mortgage broker is around £43-50k, it’s possible to make much more than this. One factor that can aid in increasing your income to an above-average level and help you advance in your career is adding further qualifications to your name.

We look at which niche areas of continued learning in the mortgage industry can complement your CeMAP and increase your appeal to future employers and broker networks.

Which qualifications most enhance your career prospects?

While the Certificate in Mortgage Advice and Practice (CeMAP) is considered an industry standard qualification, certain niche areas of lending require greater knowledge, such as advising about later-life lending and specialist finance.

Here are some examples of qualifications that will sit alongside your CeMAP, give your career a welcome boost and allow you to convert more than just mortgage leads:

Certificate in Advanced Mortgage Advice

If you want to advance on your CeMAP, the level 4 Certificate in Advanced Mortgage Advice is the next step, focusing on clients with complex needs and circumstances. It’s currently the highest qualification level available to mortgage brokers, so it is likely to have a significant impact on your career prospects.

There is some crossover with the lower-level certification; however, the units covering financial services, regulations, and ethics, as well as the unit on mortgage advice, are taught in greater detail.

Certificate in Equity Release

If you’re looking to advise on later life lending products, such as equity release, you’ll need to pass the Certificate in Regulated Equity Release (CeRER). This qualification arms you with a full understanding of equity release regulation and knowledge of the individual products available.

It also covers market practice and customer needs, enabling you to meet FCA requirements to advise on all equity release and later-life products.

There are no entry requirements for this qualification, which includes a mortgage advice section. In theory, you could, therefore, do this qualification in isolation, for example, if you’re in a non-advisory role. However, this would not allow you to advise on mortgages outside of the later life lending industry.

CPSP

If you’re interested in advising on specialist products, such as bridging loans, development finance, commercial mortgages or buy-to-let, you could consider the Level 3 Certified Practitioner in Specialist Property Finance (CPSP).

This is a fairly new qualification, created in 2023 as a joint initiative between the Bridging & Development Lenders Association (BDLA), the Financial Intermediary and Broker Association (FIBA), and the London Institute of Banking and Finance (LIBF).

The qualification aims to enhance your skills and knowledge in specialist finance products, enabling mortgage brokers to work more effectively with lenders, solicitors, and valuers. It provides further insight into how to analyse lending propositions and how to structure suitable solutions and exit strategies.

CPD

As you’ll have learned during your CeMAP qualification, mortgage broker training is an ongoing process. The mortgage industry is in a constant state of flux, with regulations and best practices liable to change at any time.

Continuing Professional Development (CPD) allows brokers to continue their professional development, as well as maintain the validity of their original qualification. To continue operating within the mortgage market, you’ll typically need at a baseline of at least 15 hours per year.

However, there are plenty of opportunities to improve your skills and further your knowledge within the profession through CPD. Additional training courses and other educational events will both contribute towards your CPD requirement and improve your employability.

Those brokers who consistently stay up-to-date with the latest developments in the industry are likely to be first in line for additional responsibilities, promotions, and future opportunities to enhance their careers.