COMPLETE CeFA 1, CeMAP 1,2,3 REVISION PACK & QUESTIONS

UK financial services industry structure

Financial asset classes

Financial services products

Financial advice and regular reviews

Legal concepts

UK taxation and social security systems

Inflation, interest rate volatility

Non tax laws

FSA regulation

FSA's conduct of business rules

Anti-money laundering rules

Complaints and compensation

Data Protection Act 1998

Definition of a mortgage

House buying process

Common types of borrower

Mortgage Contact of Business (MCOB) rules and the legislation

The role of the mortgage adviser

Additional security

Fees and charges

Value of property

Valuation and surveys

Repayment options

Mortgage products and interest rates

Mortgage associated insurance

Raising additional money

Transferring mortgages

Debt consolidation

Breaches of the Mortgage Deed

State provisions

The role of a mortgage advisee and the importance and principles of providing advice, including the key factors affecting the advice given;

The implications for consumers of 'gazumping' and 'gazundering';

The fees and charges involved in arranging a mortgage, where these apply, the services they cover, when they become due, which are refundable and how the opportunity for refunds diminishes as the process nears completion;

The principal factors affecting the value of property, including their implications for consumers seeking mortgages and when consumers should be referred for specialist advice;

The different forms of valuation and survey and which might be appropriate for different properties and/or the borrower's circumstance;

The need to obtain Local Authority planning consent for house developments/extensions.

The key features of the different types of mortgage repayment options and their benefits for different types of borrower;

The key features of the common types of mortgage product and interest rate options;

The structure and features of other types of mortgage and when they might be suitable for borrowers;

The main features and functions of different forms of life assurance and other insurance (e.g. mortgage payment protection insurance (MPPI); life; accident; sickness and unemployment (ASU) insurance; building insurance; contents insurance) associated with arranging a mortgage.

The principles and procedures associated with raising additional money and the circumstances when further borrowing might be appropriate;

The principles, procedures and costs associated with transferring mortgages;

The principles of using mortgages within debt consolidation arrangements;

The implications for the borrower of the non-payment of mortgages, other breaches of the Mortgage Deed, non-payment of building insurance and the options available;

The legal rights and remedies available to lenders in respect of non-payment from borrowers;

The main provisions made by the State to assist consumers in the difficulties over the repayment of mortgages.

Analyse consumers circumstances

Apply mortgage solutions

Identify consumers needs and make suitable recommendations

Understand the advice process, UK Finance industry and the different types of mortgage solutions