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Tips to counter the CeMAP exam stress

Tuesday, October 28, 2008

Exams are worrying for most people, even the word itself carries some stress associated with it; the same is the case with the CeMAP exams. Based on the performance on the day your success and your new career would be decided. Feeling the pressure of the exams is quite natural on the actual day, but there are steps which can give you relief from the stressful scenario:

  • First thing you need to ensure during the exams is do not let your confidence fall. You need to remain calm and composed as you know the subject matter, and there is no need to think about the results during the exams, all this would do is to build the pressure and you would forget the facts and figures which you have studied.
  • In case there are any doubts or any part in your subject matter which you do not understand, then it is essential that you ask someone and get your doubts clarified before the exam. Do not be under the assumption that what you do not understand is not likely to appearin your question paper.
  • The preparation for the CeMAP exams can be stressful, and you can vent your feelings with your friends. Once you share your feelings with someone else you would feel relaxed.
  • It is a known fact that exams are important, but do not pressurize yourself. Some people fail to work under pressure, and some work well under pressure and high targets. But the central idea is to stay focused and relaxed.

Announcement of new appointments by ifs School of Finance

Tuesday, October 21, 2008
The ifs School of Finance announced the appointment of two new board members, both with good industry experience. Cathy Turner, Group HR Director of Barclays and Professor Arnoud de Meyer, former Dean of INSEAD director of judge business school, university of Cambridge have joined ifs board of governors. Phil Hall, Head of Public Affairs at the ifs School of Finance said, "Although our board of directors at ifs are highly skilled and experienced in both financial and educational sector these two new appointments are going to add strength to both board and ifs school of finance."

After the announcement of new appointment, Cathy Turner the new board of governor stated that the position of ifs School of Finance in the financial education is unrivalled. "As a board member I will play my best part to enhance the same success."

Professor Arnoud de Meyer, added the statement, "I have been impressed with the variety of educational provisional been provided by the ifs. I am sure my experience at INSEAD and judge business school will be beneficial for the development and growth of ifs".

How to Become an Expert in CeMAP qualified broker in UK?

Tuesday, October 14, 2008

Becoming a UK mortgage advisor or broker can be extremely easy as the opportunities are endless. But being the best UK mortgage broker depends on how you are trained, the sales skills you have, and how you deal with economic changes. The Financial Services Authority (FSA) now regulates the UK mortgage industry, to help and guide an individual who wishes to become a mortgage adviser. To become a qualified mortgage advisor or broker you need to pass a mortgage advice qualification. The most recognized mortgage advice qualification in UK is the Certificate in Mortgage Advice and Practice (CeMAP). CeMAP training courses were mainly built for individuals who are new to the mortgage industry.

The main problem which the UK mortgage brokers face is increased regulation of the UK Mortgage Market. In the outlook of current market trends, self-employed mortgage brokers work with organizations which provide them with the required infrastructure, enabling them to be competitive and meet more inflexible mortgage regulations. This situation enforced the need for CeMAP qualifications for the mortgage brokers.

The first thing you must do to become a CeMAP qualified broker in UK is to get a CeMAP certification by passing the CeMAP exams. For successfully passing the CeMAP exams it is better you undergo the most professional CeMAP training courses. The CeMAP training makes you a fully qualified mortgage broker along with a Certificate in UK Mortgage Advice and Practice.

The CeMAP Training Courses provide the most comprehensive training using a dedicated team of industry-experienced CeMAP training professionals to train you in the best way. The CeMAP training successfully helps individuals to pass their mortgage advice qualifications in by giving detailed and comprehensive CeMAP training.

The advantage of the CeMAP training courses is that it enables you to learn the course content and the CeMAP exam techniques. This proven training system allows hundreds of people to easily pass the CeMAP exams every year.

But the most important thing is choosing the right company to get the CeMAP training. Many organizations strictly offer either a two-day revision course or a book based self-study CeMAP examination course which is not usually enough to pass the CeMAP exam. There may even be dishonest organizations that may give false promises. So, care should be taken when choosing the company for the CeMAP training.

The Herne Group is a company that offers the best value comprehensive CeMAP Training Course, and it has a track record of over 5 years in CeMAP training. The CeMAP Virtual Training Home Study Programme is one of the most effective courses available. The programme uses the latest techniques and modern computer software to offer the most effective Home Study training to give you the best chance of passing the exams first time. The program also guides you to practice the multi-choice type questions expected in CeMAP exams.

You won’t need academic qualifications but you do need a strong desire to succeed in a highly competitive industry to pass the CeMAP exams. You need lot of dedication, focus, hard work, the ability to strive for success, and a CeMAP certificate in order to become a CeMAP qualified broker in UK.

Improvement of Mortgage Adviser Service

Sunday, October 5, 2008

The mortgage adviser plays a very important role when a customer goes to him seeking advice on mortgages. They have the job of calculating, analyzing and advising the client on the type of mortgage that suits him. They help the client to pay the mortgage according to the schedule. The mortgage adviser serves people who get mortgages from banks and other financial institutions.

The advice that is provided by the mortgage adviser should be in accordance with all the regulations that apply in the UK. They should ensure that all the rules and laws are followed correctly. The mortgage adviser should have the Certificate of Mortgage Advice and Practice (CeMAP). This is a very important certificate that the mortgage adviser must pass before giving mortgage advice.

The mortgage adviser needs to update himself with the market circumstances and keep abreast of changes so that he can inform the client of the latest rules. To improve their services, mortgage advisers should clearly explain the different deals and the mortgage repayment methods to their customers. They should thoroughly check out if the clients can repay the mortgage amount. This will help the clients to better understand the mortgage repayment conditions that they are getting into.

There are three types of mortgage lenders. The first type will recommend a mortgage from anywhere in the market to the customer. The second type will be attached to one lender, for example bank advisers. The third type will give the details from a panel of lenders. The best thing would be to do a bit of research and find the best adviser for your needs.

To improve their services the mortgage adviser should do a thorough check on the affordability for the customer. The mortgage adviser should inform the customer about the rules and regulations of the mortgage. This includes the initial disclosure document which has to be explained and the key facts illustration. They should explain that the mortgage term or the period could be varied. This need not necessarily be for a 25 year period.

The mortgage advisers should not think of the buyers only as the first time buyers and give them advice based on that. They should discuss the pros and cons of fixed rate interest which is suggested for many first time buyers. They should also discuss the repayment methods; repayment mortgages or interest only method. Comparison of costs should also be done for the customer to get the best deal so that they are not paying too much. Too many credit checks on the customer need not be made until the customer decides if he/she wants to go ahead with the deal. The same type of mortgage will not suit everyone. So, the mortgage adviser should deal with each case individually.

Generally the mortgage advisers should look closely into the matter and give advice based on all the facts available to them about the mortgage options open to the customer. This will give the customer the basic facts about the rules and regulations that govern mortgage deals and the best possible deal that is available. With this knowledge the customer can apply for the cheapest and the best deal.

CeMAP training and guidelines of the UK mortgage market

Wednesday, October 1, 2008
If your intention is to embark on a career in Financial Services as a mortgage advisor, then the right thing to do is undergo CeMAP training course.

You will not need academic qualifications to enrol on the course and there no specific eligibility criteria to pass the CeMAP exams but one thing you will need is a strong will to succeed in a highly competitive industry. There are CeMAP training courses available for individuals who are new to the mortgage industry and those that have no mortgage background or work experience whatsoever.

To acquire the Certificate in Mortgage Advice and Practice (CeMAP) qualification, you must achieve examination passes in each of the following three CeMAP modules.
CeMAP Module 1 - UK Financial Regulation
CeMAP Module 2 - Mortgages
CeMAP Module 3 - An assessment of mortgage advice knowledge

If you undergo intensive training course, you can obtain the certificate within a few weeks. The examination comprises of three multiple choice computer based exams. Modules 1 and 2 are assessed in a two-hour exam consisting of 100 multiple choice questions. Module 3 is assessed in a two hour exam, but is made up of only 60 questions. You can take these examinations at your convenience. The examinations are computer based and the results are notified immediately. Each exam has a minimum pass mark of 70% per unit. CeMAP 1 is made up of two units, and a score of 70% must be achieved in each unit to pass the module. Should you fail a specific unit, you have to resit the exam for the specific unit only instead of the entire module.

It is mandatory that you should be CeMAP qualified to offer martgage advice. CeMAP is a nationally recognised NVQ level 3 qualification. CeMAP is a recognised qualification awarded by the ifs School of Finance. The CeMAP qualification has been developed in cooperation with the Council of Mortgage Lenders (CML).

To really prepare yourself for a long term future career, it is important to undertake a comprehensive and thorough CeMAP training course, and not attempt to undergo the crash courses that are widely advertised. It is vital for your future career that your training is total and complete and that you do not just end up with a piece of paper that says you are qualified but woefully lacking in knowledge. The ideal course to choose may be the exhaustive, tutor-supported, home study courses where you can study at your own pace and learn the study material peacefully and thoroughly.

When comparing CeMAP training with other possible career options, the long term market growth situation is a critical factor in deciding whether CeMAP training is the right choice. In comparison with most other markets, CeMAP training does provide the gateway into a career which has shown year on year growth. Even if we assume the growth rate of mortgage industry is slower, there will still be a shortage of CeMAP trained advisers. Thus the employment market for anyone freshly qualified through CeMAP training is expected to continue to be very promising. Yet another encouraging fact is that many existing mortgage advisers are approaching, or indeed have already reached their retirement age, and there is expected to be a serious dearth for qualified CeMAP professionals in the foreseeable future.

It is common knowledge that the mortgage market is currently going through a rough patch because of the financial crunch in the market. But that need not deter the CeMAP aspirants. We need to remember that thousands of mortgages are still being approved every month and many mortgage brokers are still earning handsomely by selling protection products like life insurance, mortgage protection and re-mortgages.

The UK mortgage market offers a very wide choice of around 4,000 products to its customers. It is one of the most competitive markets where there is a growing pressure for lenders to devise innovative strategies to stay and prosper. However in such types of markets constant innovation is one of the determining factors in differentiating the winners and losers. The rating agency Standard & Poor has visited a wide variety of lenders in both the prime and nonconforming sectors. Overall, it appears that the competition within the market has resulted in a variety of product and servicing innovations. In recent times, the U.K. mortgage market has seen a proliferation of product and service innovations within an increasingly competitive lending environment. As a result, borrowers are the beneficiaries as they can now repay their loans on an interest-only, capital and interest, or any other flexible basis. Apart from convenient and easy payment terms, borrowers have the option to choose from a range of fixed, discounted, or capped interest rates.

The Mortgage market in the UK substantially differs in comparison to the markets in other countries because there is no intervention in the market by the state or state funded entities. In the UK Mortgage market, lenders usually charge a valuation fee, which is a very nominal amount for a chartered surveyor to visit the property. Such type of superficial survey is not a full comprehensive survey and it may not identify all the defects that a house buyer needs to know about. Even it does not form a contract or a legal binding between the surveyor and the buyer.

According to the Intermediary Mortgage Lenders Association (IMLA), the UK mortgage market is essentially sound in spite of all the turbulence in the global financial markets. IMLA confirmed that the problems in the financial and mortgage markets are not due to any problem with the credit quality of UK mortgage books, but fears among investors that UK lenders could run into the same problems that have taken place in the USA.



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