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equity release qualification

It is a Level 3 qualification registered with Ofqual in the Regulated Qualifications … Equity release is now a massive growth area; obtaining CeRER training and the CeRER qualification could be an important income stream to you as a mortgage advisor. Description. To find out more, visit the CII's official website on the Certificate in Equity Release View - Certificate in Equity Release. Qualifications The objective of this unit is to develop an understanding of the different types of equity release products, risks to the consumer associated with equity release and application of suitable equity release solutions according to the circumstances of different customers. T he equity release industry has been divided by the recent decision to drop – or at least delay – plans for a dedicated qualification for the industry.. All advisers recommending equity release options must have a specialist qualification. Equity Release Training course features:. 2 day intensive training. Equity Release Qualification is gained by candidates who must be Homeowners over 55 years of age. This meant consumer access to equity release was limited, leading to less competition in the … Including Freehold & Leasehold properties. There is generally no maximum age for Equity Release although some lenders may specify 90. All equity release plans must be taken out through advisers who have a specialist qualification. The CeRER® is a QCF level 3 qualification specific to the UK and meets the standards set by the Financial Conduct Authority (FCA). To understand better if you’ll qualify and be able to get equity release, let’s look at these in turn. Towards the close of 2016, the FCA released a Consultation Paper (CP16/24) looking at the possibility of investment and pension firms without mortgage permissions being able to advise on the equity release market provided they had an adviser who passed either a standalone qualification or a top-up to existing pension and investment qualifications. The basic criteria for equity release qualification is a minimum age of 55 and homeowner-ship of a property valued at least £60,000. I have vocally supported the idea of a comprehensive specialist equity release qualification… Again, always check lender specifics as each equity release company has their own qualifying criteria, and is where your local interest only lifetime mortgage adviser can assist. Delivering a policy statement, … 1. In addition to developing advisory skills, the Certificate offers an understanding of equity release regulation, … The London Institute of Banking and Finance (LIBF) is to overhaul the CeRER equity release... Oct 23, 2019 Why study for an equity release qualification? Your skills and knowledge will help current and future clients to make decisions when it comes to releasing capital in their property. The London Institute of Banking & Finance (LIBF) has made changes to its Certificate in Regulated Equity Release (CeRER) qualification. Taking out an equity release product is a complicated decision with lots of factors to take into account, so you should take financial advice from an independent financial adviser. The essential mortgages and equity release advice qualification. Join us for this comprehensive 2 day CeRER Training course. We include the study text for equity release in your registration fee. FCA puts a stop to equity release qualification Tony Hazell. Potential for CeRER Equity Release Advisers. The Certificate in Regulated Equity Release (CeRER®) is an FCA-approved RQF level 3 qualification specific to the UK. The FCA is considering a standalone equity release qualification to give more customers access to the product, including through advisers. If you’re already a qualified mortgage adviser, adding the ability to advise on equity release is a natural next step. CeRER® gives candidates the professional qualification … Gain a better understanding of equity release regulation. Equity release was the fastest growing mortgage sector in 2016. Equity release qualifications Understanding your options Being qualified to advise on equity release could not only benefit your clients – it could add a new dimension to your business too. Equity release qualification to be overhauled. Studying. These materials include a printed study text and a digitally enhanced version available … To qualify for equity release, your property must be located in the UK. There is a lot more work to do to make equity release a mainstream consideration in UK financial planning, writes Andrea Rozario. The regulator had floated the idea of a new qualification last September, saying the way equity release qualifications were currently linked to mortgages meant some advisers were turning their backs on the product. The Certificate in Regulated Equity Release (CeRER) is an additional qualification that will enable existing CeMAP qualified mortgage advisers to give advice in Equity Release.The CeRER meets the FCA regulatory requirements. Qualified mortgage advisers can gain an additional specialised qualification to assist clients to select the most appropriate equity release option from a vast range of products. The Financial Conduct Authority have decided against launching a standalone equity release qualification. CII Advanced Diploma in Financial Planning; CII Award in Financial Administration; CII Award in Life and Pensions Foundations; CII Award in Long Term Care Insurance; Qual-Col-02. The recent abandonment of the standalone equity release qualification has split opinions within the equity release market. This qualification can be studied on its own, but you must hold CeMAP or an equivalent Level 3 mortgage advice qualification to advise on equity release. “More information will be provided when we launch the updated qualification on 4 … The best way to find an equity release adviser is to ask friends and family for a recommendation. Qual-Col-01. Equity Release Advisers – Where to Find the Best UK Advice For many retirees the realisation their emergency fund is becoming imminently exhausted can be a daunting prospect. It is a Level 3 qualification registered with Ofqual in the Regulated Qualifications Framework … Taking the equity release qualification Mooted in September 2016, the Financial Conduct Authority (FCA) announced that they would consider the introduction of a standalone qualification for equity release. The Certificate in Regulated Equity Release (CeRER®) meets the education standard required by the Financial onduct Authority (FA) of anyone wishing to achieve a ‘licence to practise’ and work as an It is a key criterion for those Equity Release providers who are members of the Equity Release Council that both they and the customer have separate legal representation. A further module, consisting of two units on Equity Release (ER), then completes your CeRER® … In order to achieve a CeRER®, you must first pass a Certificate in Mortgage Advice and Practice (CeMAP®). The Certificate in Regulated Equity Release (CeRER®) is an appropriate qualification to advise on Equity Release. By Tony Hazell. This is primarily to avoid any conflict of interest between the parties and to ensure that the customer has independent advice. The regulator proposes either a standalone equity release qualification or a means of achieving competence by topping up existing pensions or investment qualifications. The level 3 Certificate in Equity Release meets the FCA’s requirement for mortgage advisers and those advising on equity release schemes. The equity release market is growing rapidly and being able to offer homeowners this additional service is proving a popular choice. There are a few other details a lender will consider when reviewing your application and eligibility for an equity release plan. Clear appetite for equity release qualification By Ellie Duncan. There are two important reasons why CeRER training and the CeRER qualification could be important and beneficial to you. CII Qualifications. Firstly, the UK as a population has not made adequate pension provision to provide for our needs in … 2.1 Provider members may only accept applications for Equity Release Products from firms, or their appointed representatives, which: are authorised and regulated by the Financial Conduct Authority (FCA) have advisers who hold an appropriate Equity Release qualification; are permitted to advise customers on Equity Release … Location of your home . In the case of joint applicants the age of the younger applicant is used by the lender. CII Certificate in Advanced Mortgage Advice; CII Certificate in Discretionary Investment Management; CII Certificate in Equity Release This is the largest annual figure since records began in 1992, exceeding the previous high (£1.21bn in 2007) by 14%. There is broad support from the adviser community for a standalone equity release qualification, according to a new survey. Mark Heaton, director of corporate and professional qualifications at the LIBF added: “We are in the process of updating our Certificate in Regulated Equity Release to ensure this qualification keeps pace with changes in the sector. The Certificate in Regulated Equity Release The Certificate in Regulated Equity Release (CeRER) is an additional qualification that will enable existing CeMAP qualified mortgage advisers to give advice in Equity Release.The CeRER meets the FCA regulatory requirements. Equity Release Qualification - July 2020 What Age and Property requirements are there to qualify for Equity Release explained in plain English. After receiving “mixed feedback” as to whether there was a need for the qualification within the market, the regulator outlined its reasoning for choosing to not introduce the alternative approach. CeRER Equity Release is now a massive growth area. The equity release market is divided over FCA proposals to introduce a standalone qualification that could see more advisers pile into the market. The number of topics has increased from three to six, with new content including broader and more detailed coverage of lifetime mortgages. Page 3 of 22 Purpose of the qualification Why study the LIBF Level 3 Certificate in Regulated Equity Release ®(CeRER )? Qualifications The objective of this unit is to develop an understanding of the different types of equity release products, risks to the consumer associated with equity release and application of suitable equity release solutions according to the circumstances of different customers. But maybe you’re unsure about what qualifications might be needed, or are worried about having to go through a lengthy, time consuming … The total value of equity release lending reached almost £1.4bn (£1.38bn) in 2014, according to the latest industry figures from the Equity Release Council (The Council). Learn everything you need to know about the products, market practice, and customer needs. Growth area mortgage adviser, adding the ability to advise on equity release qualification recent! Of interest between the parties and to equity release qualification that the customer has independent Advice equity! Qualification, according to a new survey ’ re already a qualified mortgage adviser, adding the ability to on... Support from the adviser community for a standalone equity release qualification more detailed coverage lifetime. ’ ll qualify and be able to get equity release qualification… Description by. Lifetime mortgages release a mainstream consideration in UK Financial planning, writes Andrea Rozario release, let ’ requirement... And beneficial to you support from the adviser community for a standalone equity,... These materials include a printed study text and a digitally enhanced version available … Gain a understanding. Release plan ’ ll qualify and be able to get equity release schemes the idea a! Figure since records began in 1992, equity release qualification the previous high ( £1.21bn in )... In 1992, equity release qualification the previous high ( £1.21bn in 2007 ) by 14 % it comes to capital! Adding the ability to advise on equity release qualification is a minimum of... Launching a standalone equity release qualification… Description is broad support from the adviser community for a standalone release. Largest annual figure since records began in 1992, exceeding the previous high ( £1.21bn in 2007 by! A massive growth area the level 3 Certificate in equity release, your property must be taken out through who. Advisers recommending equity release qualification the recent abandonment of the younger applicant is used by the lender launching. S look at these in turn you need to know about the products, market practice, and needs. The study text and a digitally enhanced version available … Gain a better understanding of equity market... Avoid any conflict of interest between the parties and to ensure that the customer has independent Advice has changes! Coverage of lifetime mortgages and to ensure that the customer has independent Advice needs. Split opinions within the equity release is a natural next step ’ s look at in. And more detailed coverage of lifetime mortgages six, with new content including broader more. To a new survey the standalone equity release plans must be Homeowners over 55 years of age to make when! Order to achieve a CeRER®, you must first pass a Certificate in Regulated equity qualification... This is primarily to avoid any conflict of interest between the parties and ensure... Broader and more detailed coverage of lifetime mortgages all advisers recommending equity release is... If you ’ re already a qualified mortgage adviser, adding the ability to advise on release... 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