Advisers yet to register for the Mortgage Code Compliance Board (MCCB) examinations, which must be passed by the end of the year, could miss the final deadline in December, according to the MCCB.
The board is warning advisers that need to re-take either the Certificate in Mortgage Advice and Practice (CeMAP), CeMap Bridge Paper, or the Mortgage Advice Qualification (MAQ) they may miss the final submission on 31 December.
Luke March, chief executive of the MCCB, said: ‘We recommend advisers who have yet to register for the exams do so quickly to leave them enough time to study and re-take exams if necessary. Any further delay, and they risk limiting their options.’
Figures indicate 55,400 advisers have registered for the CeMap or CeMap Bridge papers with around 21,000 qualifying. March believes the qualifications will improve standards in the industry.
‘Past research indicates fully-trained and qualified sales people are more likely to provide a professional service to customers. It is essential for the industry we all maintain the momentum in raising standards,’ he said.
As the final deadline looms, the Institute of Financial Services has noted an increase in the number of advisers registering for the examinations with registrations exceeding 2,000 a month over the last three months.
But Ian Curtis, sales manager at Professional Mortgage Services, said: ‘If people spent less time complaining about taking exams and more time revising, then more people would pass.’