The Financial Conduct Authority have decided against launching a standalone equity release qualification. There are two important reasons why CeRER training and the CeRER qualification could be important and beneficial to you. A further module, consisting of two units on Equity Release (ER), then completes your CeRER® … This meant consumer access to equity release was limited, leading to less competition in the … 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). Equity release was the fastest growing mortgage sector in 2016. CII Qualifications. Delivering a policy statement, … The regulator proposes either a standalone equity release qualification or a means of achieving competence by topping up existing pensions or investment qualifications. Equity Release Training course features:. 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. 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. Description. 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. 2 day intensive training. To understand better if you’ll qualify and be able to get equity release, let’s look at these in turn. Mooted in September 2016, the Financial Conduct Authority (FCA) announced that they would consider the introduction of a standalone qualification for equity release. Qual-Col-01. The basic criteria for equity release qualification is a minimum age of 55 and homeowner-ship of a property valued at least £60,000. “More information will be provided when we launch the updated qualification on 4 … To qualify for equity release, your property must be located in the UK. There is generally no maximum age for Equity Release although some lenders may specify 90. 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 … This is primarily to avoid any conflict of interest between the parties and to ensure that the customer has independent advice. Equity Release Qualification - July 2020 What Age and Property requirements are there to qualify for Equity Release explained in plain English. 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. 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 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 The number of topics has increased from three to six, with new content including broader and more detailed coverage of lifetime mortgages. It is a Level 3 qualification registered with Ofqual in the Regulated Qualifications … 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 London Institute of Banking & Finance (LIBF) has made changes to its Certificate in Regulated Equity Release (CeRER) qualification. 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. CII Certificate in Advanced Mortgage Advice; CII Certificate in Discretionary Investment Management; CII Certificate in Equity Release It is a Level 3 qualification registered with Ofqual in the Regulated Qualifications Framework … 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.. CeRER® gives candidates the professional qualification … Taking the equity release qualification There is a lot more work to do to make equity release a mainstream consideration in UK financial planning, writes Andrea Rozario. The FCA is considering a standalone equity release qualification to give more customers access to the product, including through advisers. I have vocally supported the idea of a comprehensive specialist equity release qualification… 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. These materials include a printed study text and a digitally enhanced version available … 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. 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. 1. Including Freehold & Leasehold properties. The recent abandonment of the standalone equity release qualification has split opinions within the equity release market. Firstly, the UK as a population has not made adequate pension provision to provide for our needs in … 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. By Tony Hazell. Why study for an equity release qualification? The best way to find an equity release adviser is to ask friends and family for a recommendation. 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. We include the study text for equity release in your registration fee. There is broad support from the adviser community for a standalone equity release qualification, according to a new survey. Location of your home . 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. In the case of joint applicants the age of the younger applicant is used by the lender. The CeRER® is a QCF level 3 qualification specific to the UK and meets the standards set by the Financial Conduct Authority (FCA). 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. Your skills and knowledge will help current and future clients to make decisions when it comes to releasing capital in their property. Page 3 of 22 Purpose of the qualification Why study the LIBF Level 3 Certificate in Regulated Equity Release ®(CeRER )? Learn everything you need to know about the products, market practice, and customer needs. The equity release market is growing rapidly and being able to offer homeowners this additional service is proving a popular choice. All advisers recommending equity release options must have a specialist qualification. Equity Release Qualification is gained by candidates who must be Homeowners over 55 years of age. The equity release market is divided over FCA proposals to introduce a standalone qualification that could see more advisers pile into the market. The level 3 Certificate in Equity Release meets the FCA’s requirement for mortgage advisers and those advising on equity release schemes. Equity release qualification to be overhauled. 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. Join us for this comprehensive 2 day CeRER Training course. All equity release plans must be taken out through advisers who have a specialist qualification. FCA puts a stop to equity release qualification Tony Hazell. The London Institute of Banking and Finance (LIBF) is to overhaul the CeRER equity release... Oct 23, 2019 The Certificate in Regulated Equity Release (CeRER®) is an appropriate qualification to advise on Equity Release. CeRER Equity Release is now a massive growth area. Potential for CeRER Equity Release Advisers. In order to achieve a CeRER®, you must first pass a Certificate in Mortgage Advice and Practice (CeMAP®). To find out more, visit the CII's official website on the Certificate in Equity Release View - Certificate in Equity Release. 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. The Certificate in Regulated Equity Release (CeRER®) is an FCA-approved RQF level 3 qualification specific to the UK. If you’re already a qualified mortgage adviser, adding the ability to advise on equity release is a natural next step. In addition to developing advisory skills, the Certificate offers an understanding of equity release regulation, … There are a few other details a lender will consider when reviewing your application and eligibility for an equity release plan. The essential mortgages and equity release advice qualification. Gain a better understanding of equity release regulation. This is the largest annual figure since records began in 1992, exceeding the previous high (£1.21bn in 2007) by 14%. 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