The Mortgage Code and Compliance board is alerting advisers that ‘time is running out’ to gain required professional mortgage advisory qualifications by the 31 December 2002 deadline.
Of the 74,000 individuals already registered with either the Institute of Financial Services (ifs), the Chartered Institute of Bankers in Scotland (CIOBS) or the Chartered Insurance Institute (CII), over 29,000 – nearly 40 per cent – are already qualified.
Despite the sharp hikes in the numbers of advisers applying to take the exams, the MCCB is warning against late registration, as those failing exams will not have time to re-sit before December. The ifs has reported over 2,000 registrations each month over the past three months.
With 250 days to go, the MCCB requirements includes one of the following: the Certificate in Mortgage Advice and Practice (CeMAP) the status of an FPC or CeFA qualified adviser, or have passed the CeMAP bridge paper or Mortgage Advice Qualification (MAQ).
