The London Institute of Banking and Finance has launched a new, higher-level qualification for mortgage advisers.
Called the CeMap diploma, the qualification follows the launch of LIBF's level three CeMap qualification.
It is pitched as a qualification for advisers who "wish to enhance their expertise and differentiate themselves within a highly-competitive market".
To gain the qualification, Martin Day, managing director, corporate and professional qualifications at The London Institute of Banking and Finance, said advisers would need to complete a new level four advanced mortgage advice unit.
The qualification opens for registrations in October, and is available to holders of CeMap or comparable qualifications, as well as to anyone intending to become a qualified mortgage adviser.
Mr Day said: “The UK mortgage market is dynamic and complex and it’s clear that in order to offer the very best service to their clients, advisers have to ensure their skills are highly relevant and up-to-date."
He said many mortgage advisers would want to continue their professional development, beyond what is required by the FCA in order to practice.
“The new CeMap diploma will allow these advisers to develop their skills and demonstrate to clients their proficiency and understanding of the latest trends and developments, allowing them to enhance the service they provide.”
James Carter, a mortgage adviser and principal of Independent James, welcomed the launch of the CeMap diploma.
"I think it is always a good idea to increase professional standards," he said, adding that he expected there to be healthy take-up of the qualification by mortgage advisers.
He added that, while the FCA's entry-level standards were fairly straightforward, lenders' criteria were "strict", meaning there was "quite a lot of self-regulation" in the industry.
james.fernyhough@ft.com
