Certificate in Equity Release
Equity release: are you ready for the new regime?
More people than ever are relying in the equity locked up in their homes to fund future lifestyle expenditure. There has never been a greater need for informed, competent advice in the equity release market.
The market offers rich new business potential. But individuals and firms seeking to take advantage of the opportunities need to be aware that from 6 April 2007 the sale and marketing of equity release products, including home reversion plans, will be regulated by the FSA.
As part of the new regulatory requirements, anyone advising on any form of equity release must hold appropriate examinations.
The Certificate in Equity Release: helping you meet the challenge
In response to this change, the CII has developed a new qualification, The Certificate in Equity Release. The Certificate is suitable for anyone not authorised on lifetime mortgage activity prior to 6 April, but seeking to advise on this class of business.
The Certificate in Equity Release comprises the following units, or equivalent:
- CF1 (UK financial services, regulation and ethics)
- CF6 (Mortgage advice)
- ER1 (Equity Release)*
On successful completion of the Certificate, you are entitled to apply to use the designation ‘Certs CII (MP & ER)’.
You will also be able to use the credits obtained by passing these exams towards obtaining other financial planning qualifications to support your professional and career development.
* For anyone already approved to advise on lifetime mortgage activity prior to 6 April 2007, or holding a combination of CF1, CF6 and CF7, a single top-up unit HR1 (Home reversion plans) is available for individuals to complete until April 2009.
