Tag Archives: cemap course

Corona? Why CeMAP Distance Learning makes perfect sense

 

cemap distance learning

With the whole country more or less on lock-down due to Corona Virus concerns the question is how will this impact on your training requirements  to attainyour CeMAP qualification.

Obtaining Certification for Mortgage Advice and Practice (CeMAP) is the starting point  for future mortgage advisers in the UK. This is a necessary qualification to become a licensed mortgage advisor  or work in a mortgage company. Including CeMAP on your resume is a  key requirement for your mortgage career.  As such taking an organised, well thought out approach to your mortgage training and certification is paramount.

The most effective way of understanding the vast CeMAP syllabus is to attend  a classroom  course where you can fully immerse yourself without any distractions. but in the light of whats going on at the moment ;  You may not fancy travelling anywhere or are forced to self-isolate then the next best thing to CeMAP Classroom training is distance learning CeMAP training .

Here are some key advantages of CeMAP Distance learning so that you can decide if this is for you.

– CeMAP  distance learning  is flexible and convenient. Learners have the ability to work any time and at any place both with an internet connection or even without. As we also send you hard copies of  our  core CeMAP training material

– Learners work at their own pace

– Saving of transportation cost (and time) with not having to commute to and from Training location.

–   video explainer’s and MP3 files provide visual and audio learning that can be reviewed as often as needed.

– The ability to communicate with fellow classmates independent of spatial distance (Via our online forums and tutor co-ordinated webinars)

Our distance learning cemap option includes:

  • Coaching by Mortgage industry pro’s (tutor+ option)
  • Support for 1 whole year
  • Telephone/group conference support sessions (tutor+ option)
  • Unlimited email support. (tutor+ option)
  • Free tutorials/webinars (tutor+ option)
  • CeMAP study group
  • Recorded lectures
  • Free guidance on syllabus updates (tutor+ option)
  • CeMAP 1, 2 & 3 classroom slides
  • Full CeMAP 1, 2 & 3 Mock Exam question papers
  • Access to more exams and resources in our Virtual Learning Zone.
  • Our two CeMAP Revision Books; UK Financial Regulations Made Easy and Mortgages Made Easy.

 

So if you are stuck thinking about what to do about this situation you might find that our cemap distance learning option is a more convenient, flexible and in the end, effective training solution.  Find out more about our CeMAP distance learning courses here or call us on 020 8443 2888

CEMAP Study: What is TCF?

TCF (Treating customers Fairly) was introduced to make firms focus on how they treat their customers and in particular ensure customers are treated fairly. If you are a CeMAP student you can expect a few questions to arise from this area

All authorised firms must comply with the 11 principles for Business and while quite a few of them are relevant to how firms treat their customers it is principle 6 that is most associated with TCF and for CeMAP Study and Exam purposes it makes sense to have a good understanding of this. You will normally come across this when you start studying CeMAP 1 unit 2 of UK financial regulations.
Principle 6 states that a firm must pay due regard to the interest of its customers and treat them fairly.

TCF means treating customers fairly, irrespective of how they contact you or what product they have. It needs to be embedded within a firm’s culture

How should firms deal with TCF on a daily basis?

Firms are required to adopt TCF as their guiding principle so it becomes part of their culture. Everyone should be part of it from the board through to the senior management and all the way through the organisation.

The responsibility for implementing TCF lies with a firm’s board and senior management.

Areas where a firm could consider embedding TCF:

– Corporate strategy and culture.
– Product design and governance.
– Financial promotions
– Sales and advice.
– Consumer information and services
– Complaint handling
– Firms need to be polite and professional. They will need to be clear and transparent with customers however, that doesn’t mean a customer will always they always get what they want.

TCF is based on principles rather than rules. The regulator has therefore defined 6 consumer outcomes. It is important to pay attention and learn more about how these outcomes can be applied practically for your CeMAP Study and exams

  1. Consumers can be confident that they are dealing with firms where the fair treatment of customers is central to the corporate culture. A good example is how we reward staff. This should not  just be with pay but with bonuses,  incentives (like health, fitness well-being) etc. If all staff compensation is just based on sales alone for instance, there is a risk that a significant amount of unsuitable sales will be generated as a consequence
  2. Products and services marketed and sold in the retail market are designed to meet the needs of identified consumer groups and are targeted appropriately. Taking customers opinions into consideration during the design process and checking to see if sales, cancellations etc met expectations. Also reviewing different groups of customers to ensure communications are enabling them to buy products which suits their needs and not the other way round.
  3. Consumers are provided with clear information and are kept appropriately informed before, during and after a sale. For example, when a customers fixed rate period ends and their mortgage rate changes. Many customers feel aggrieved that they weren’t given due notice of this by their mortgage broker.
  4. Where customers receive advice; the advice must be suitable and take full account of their circumstances. For instance, It would be ideal to make product literature available in braille format for someone who has a visual impairment.
  5. Consumers are provided with products that perform as firms have led them to expect and the associated service is both of an acceptable standard and as they have been led to expect.. This simply means that firms can’t create false expectations or package things in a way that will lead to the consumer being misled.
  6. Consumers do not face unreasonable post-sale barriers imposed by firms to change product, switch provider submit a claim or make a complaint. For example, regarding switching provider a firm could easily impose long notice periods, onerous information demands, communication difficulties and even administrative delays in order to frustrate the customer

So we have looked at the 6 Consumer outcomes expected from TCF. This should help illuminate this important section found in  CeMAP 1 Unit 2

For further help with CeMAP please see our dedicated CeMAP 123 website and info on our regular CeMAP training courses or  CeMAP Home study support

CeMAP questions from our Virtual Learning Zone (Part 6)

Every month we go through our CeMAP forums at http://www.cemap123.co.uk   and  http://www.futuretrend.org.uk/vle/  to see what interesting queries have been dziners-org-discussionposted.  Students have access to this  as part of their CeMAP Training programme. This is not only a fantastic resource for  post classroom or distance learning CeMAP study but also provides a whole years access to an eco-system of like-minded folk. and if a tutor is too busy (as was the case with the query below…both CeMAP tutors David and Malik were teaching at the time); what you will find is that there are always other students ready to help;

This months CeMAP query comes from Richard currently studying CeMAP 2.

Richards’s Question:

Morning all,

May be I’m being a bit thick here (!!) But I need help understanding the below please.

I need assistance with the deed of postponement, relating to second charges. In the notes it states:-

To set aside a 2nd mortgage, the original lender requires a deed of postponement that MUST be executed. The D.O.P will postpone the 2nd charge, and make it possible for the original lender to “Tack” a subsequent mortgage (third charge) to an original one.

Errm, can someone help my brain comprehend this please?

Thanks,
Richard

James recently completed his CeMAP Fast Track training with us and came to Richards rescue.

James’s answer:

Hi there,

It’s all to do with the order that payments will be allocated in the event of a repossession, the first charge (original mortgage) will be paid first, then the second charge, and if there’s a shortfall then the second charge lender is at more risk of losing their money than the first charge lender.

If the original lender wishes to increase their lending, that will be added to the original loan, and will be repaid in the event of a repossession before the second charge lender receives their money, so they would need a deed of postponement from the second charge lender to make sure that they agree to that happening, if they believe that it would be too much of a risk then they won’t agree to it.

An example:

Original mortgage is £100,000, there’s a second charge loan for £25,000, totalling £125,000 borrowing secured on a £200,000 property.

The customer approaches their first charge lender to borrow an additional £50,000, this would take the total borrowing to £175,000, the original lender can be pretty confident that their £150,000 can be repaid if the house is repossessed, but if property values drop and the house can only be sold for £160,000 then the original lender will have received their money back, but the second charge lender will have lost £15,000. 

The deed of postponement gives the second charge lender the chance to refuse to allow the additional borrowing to be tacked on to the loan that will be repaid before they are able to reclaim their money.

Hope that helps,
Give me a shout if you need any more clarification.

Futuretrend students are crushing CeMAP!

Some inspiring feedback and  excellent results from  some students on David Airs Weekday Fast Track CeMAP classes.

I attended the CeMAP 2 and 3 course of recently and just wanted to thank you as I passed CeMAP 2 and 3 just before Christmas.  CeMAP 2 I achieved merit on the first module and then 3 distinctions on the remainder and I achieved merit on CeMAP 3.

I feel that I would not have achieved this without your course so thank you for your excellent training. Now the even harder part for me as I just need to find myself a job now!!

Helen

Hi David

I did the CeMAP 1 today and was absolutely gobsmacked to discover that I got distinction for both units – I thought I’d done okay on the 1st unit and was hoping to scrape a pass on the 2nd, so am absolutely delighted – it must be down to excellent tutoring! Let’s hope 2&3 go well too.

Thanks again for a great course and for your patience.

Best regards
Sue

Well done both of you and thank you for the kind words. It’s always great to see candidates shaping their careers by staying focused and working hard.
For information about our CeMAP Training please visit www.cemap123.co.uk or call us on 020 8443 2888.