In that time, CeMAP has become firmly established as the standard for mortgage advisers.
CeMAP was the first available qualification for mortgage advisers and has attracted registrations from nearly 150,000 individuals over the last ten years – an impressive achievement considering there are now estimated to be only 55,000 active mortgage advisers in the UK.
Mark Roberts, head of faculty financial regulation and corporate & academic relationships at the ifs School of Finance, said: “Over the last ten years there has been tremendous change in the mortgage industry. For instance, voluntary regulation has given way to statutory regulation and we have moved from an entirely paper based testing environment to one that it is now wholly online.
"Over the years, materials for CeMAP have been regularly updated, reflecting the evolving rules and regulations surrounding the market as well as advancing in both product design and style.
"Throughout the last ten years CeMAP has remained a rigorous and challenging qualification. This has helped to ensure that consumers continue to have confidence that their advisers are giving advice from a position of significant knowledge and competence.”
CeMAP now also has on demand testing and is also far more accessible than it was 10 years ago as it can be taken at any of the 150 Pearson Driving Test Centres in the UK.
Roberts concluded: "In short, there have been many changes over the last 10 years but CeMAP® has remained a constant. It is unclear what further changes will take place over the next 10 years but CeMAP® will more than likely remain integral to the mortgage industry, helping to raise standards and boosting consumer confidence."
