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Training
Helping to diversify
With many of you looking to diversify into other
areas, here is a look at the ifs School of Finance
course on a couple of areas you may be
considering
Certificate in Regulated Equity circle6 the suitability and affordability of the intermediaries who are looking to broaden the
Release (CeRER) different types of HR plans and their princi- scope of their business in this area. CeCM is a
From 6 April 2007, the sale and marketing of ple alternatives for different types of con- stand-alone certificate, part of the NACFB
Equity Release including Lifetime Mortgages Diploma and Advanced CeMAP®
and Home Reversion Plans has been regulated circle6
sumer;
the advantages, disadvantages and potential
by the Financial Services Authority (FSA). As risks to consumers associated with taking The course
part of these regulatory requirements, anyone out equity release, and when these might Upon successful completion of the module
advising on any form of Equity Release must arise. candidates will be able to analyse customer
attain an appropriate qualification. The entry requirements to do the course are proposition, recommend and apply suitable
If you are not authorised on Lifetime CeMAP or the equivalent and, depending on and affordable mortgage solutions, taking into
Mortgages you will need to pass an appropri- your approach to learning, it should take you account any existing arrangements, using
ate qualification covering Equity Release between 40 - 60 hours for the Equity Release kno
before you can be authorised to advise. module. circle6
wledge and understanding of:
By completing CeRER you will meet these circle6
common types of products and schemes;
the market for commercial mortgages and
regulatory requirements and develop a full and Examinations
extensive knowledge of the fast expanding The module is assessed by a two-hour multiple circle6
related solutions;
equity release environment. choice examination across the two units. The circle6
common types of finance;
The full qualification comprises of the fol- first unit consists of 50 multiple-choice ques- circle6
legal and regulatory framework;
factors affecting the value of commercial
circle6
lowing modules: tions. The second unit consists of three case
circle6
CeMAP® (or equivalent) studies each containing ten multiple-choice circle6
property;
risk management in the various commercial
Equity Release module questions. This is delivered electronically with
results given immediately. The grading is: circle6
sectors;
information gathering, affordability,
The course Pass 70% suitability and breaches of payment.
The Equity Release module is split into two Merit 80% This module will address the specialist
units. On successful completion you will Distinction 90% lending requirements of this sector and the
d
circle6
emonstrate an understanding of: Students must achieve a minimum of 70% range of products that are now available to
the definition of a Home Reversion (HR) in each unit. If students don't gain 70% in any this market.
plan & alternative methods of equity unit/s within a module they will have to resit. The study time, depending on your
circle6
release/capital raising; But upon successful completion of this qualifi- approach to learning, is between 40 - 60 hours.
the principles of equity release, the types of cation you can use the letters “CeRER” after
equity release schemes available and the your name. Examination
applications for which such schemes might The cost of the module is £135.00 per mod- The module is assessed by a two-hour multiple
circle6
be appropriate; ule, registration is valid for twelve months. The choice examination. This is delivered electroni-
types of consumer at whom equity release is fee includes the learning manual and initial cally with results given immediately.
targeted and their personal requirements, examination entry (any resit examinations are Upon successful completion of this
circle6
wants and needs; paid for separately at a rate of £105). qualification you can use the letters “CeCM”
the circumstances in which equity release after your name.
may be appropriate and how these are influ- The cost is £135.00 per module, and
enced by the consumers’ preferences and Certificate in Commercial registration is valid for twelve months. The fee
circle6
financial needs; Mortgages (CeCM) includes the learning manual and initial
suitable equity release solutions to the cir- The ifs School of Finance's Certificate in examination entry (any resit examinations are
cumstances of different types of consumers; Commercial Mortgages satisfies the needs of paid for separately).
July/August 2009 Mortgage Introducer www.mortgageintroducer.com
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