You are here: Home - News -

Deadline looms for mortgage qualifications

  • 10/08/2001
  • 0
Over 10,000 mortgage advisers have yet to register with an approved examining body where they can si...

Over 10,000 mortgage advisers have yet to register with an approved examining body where they can sit the vital professional industry qualifications, according to the Mortgage Code Compliance Board (MCCB), writes Ben Marquand.

The MCCB, the industry watchdog, has expressed concern that many advisers now have fewer than 18 months to pass either the Mortgage Advice Qualification (MAQ) or the Certificate in Mortgage Advice and Practice (CeMAP), which would mean that those failing to do so would no longer be able to provide mortgage advice.

The latest figures from the MCCB show that around 25% of mortgage advisers have not yet begun the qualification process, although 37,200 advisers have registered with the Institute of Financial Services for CeMap and 15,700 of these have now completed the qualification. In addition, statistics from the Chartered Insurance Institute (CII) show that 6,300 have signed up to take the MAQ, and 2,900 of these have passed.

Luke March, chief executive of the MCCB, said: ‘The introduction of compulsory qualifications sets a new trend in the mortgage industry raising professional standards and increasing customer confidence in the industry.

‘While we are pleased at the steady growth in advisers registering for the examinations, time is running out for those still not registered to take CeMAP or MAQ. The deadline of end December 2002 may seem a long way ahead, but leaving it late in the day to take exams will put advisers under a great deal of unnecessary pressure.’The proposals are aimed at improving customer information and giving a fairer deal to people in arrears


There are 0 Comment(s)

You may also be interested in

Business Skills

In this section, we offer short ‘how to’ guides on harder to crack areas of business. From social media, to regulation or niche product areas, we cover it all.


Our journalists interview key industry entrepreneurs, strategists and commentators for day-to-day market insight and a strategic view of where the industry is heading. We offer lessons for success and explore the opportunities for your business

Success in Practice

Here, we share case studies fleshing out best practice to help you decide what could work for your business. Take a look at how others approached complex tasks like launching a new mortgage lender, advising on a new product area or deciding to specialise in another. Learn from others mistakes and triumphs.


Each week, we ask top mortgage and property commentators with a unique perspective to examine a key news headline, market move or regulatory or political issue.


Vote in our weekly poll here. It’s your chance to tell us what you think and be heard on the top news stories of the week. Review our archive to find out what your industry really thinks and all our coverage of the results.

Top Comments

Be part of the conversation on Mortgage Solutions. We want to hear from you. We have a tool called Disqus to tell us which stories get the most comments each week. Every Friday, the team picks the most thoughtful or opinionated contributions from our readers to enjoy again. Don’t forget to share your favourite stories from the site on social media to keep the conversation going.
Read previous post:
MHBS sees net mortgages rise to 22% of business

Market Harborough Building Society (MHBS) has reported almost a quarter of all their mortgage busine...