The unit is a top-up for holders of the CII's Lifetime mortgage activities exam and was launched three months ago to meet the need for anyone advising consumers or overseeing the non-advised sales of home reversions to pass an appropriate exam under new FSA rules.
Richard Fox, chief executive of the Society of Mortgage Professionals, said: "This is another excellent demonstration of the professional aspirations of mortgage advisers who are determined to ensure they have the necessary knowledge and skills. Professionalism goes beyond just meeting the regulatory rules; this is as much about advisers wanting to give their clients the best possible service. Given that home reversion plans are set to be a growing market it is good to see advisers getting properly prepared."
The objective of the home reversion unit is to develop an understanding and knowledge of the legislative and regulatory position of home reversion plans. It also develops an understanding of the features of home reversion plans and their place in the advice process.
