Mortgage advisors? Qualification question

[A320_phill]

I am currently an Aircraft Engineer but have a lot of spare time due to my shift pattern.

I have always been interested in looking at financial products and saving money (who isn't!) and thought about becoming a part time advisor on my days off as a bit of extra income to see how it goes.

I have found a distance learning website IFSlearning which offer courses at reasonable prices with an exam venue close to me. The qualifications on offer are CeMAP and DipMAP.

My question is, what is the most basic qualification you need to be able to legally and morally offer independent mortgage advice?

And also is this website legit or are the products on offer a bit Mickey Mouse?

Cheers

 

[dans6490]

When I worked in banking, all the bank mortgage advisors had cemap. IIRC, you can't give advice but just give the customer the options. Dipmap, from memory, is the next step up from Cemap. Cemap is level 3 and Dipmap is level 4. Afaik you would have to get cemap before Dipmap.

As for which would be required to be an independent, I have no idea.LOL

I took FPC (financial planning certificate) through IFS and they are reputable. FPC was the predecessor to the current qualifications. Most people I know went down the distance learning route through IFS and the workbooks and past papers they offer are good.

 

[DPG]

As above CeMAP is the most basic but the diploma is the one you want to be aiming for.

 

[prosperitymortgages]

The minimum qualification requirements to become a financial adviser came into effect at the end of 2012. Most financial qualifications are assessed under the Qualifications and Credit Framework (QCF) and QCF grading lies from level 1 to level 8.

I hope you will find this useful. Thanks!

 

[Geezah]

I wouldnt recommend being a part time one man band mortgage broker.

You need to be at the beck and call of your clients when they meed you.

E.g. Problems on completion day, the whole chain is waiting for you to resolve the issues, meanwhile you have your head up a pitot tube because the jet needs to get airborne as soon as possible!

Do you really need the stress?

 

[Anonymous]

There is a guide line on Wikipedia