Your guide to CeRER

9 November 2021

Financial freedom concept. A metal chain is wrapped around a pile of bank notes, the attached padlock has been unlocked.

Successful mortgage advisers know the importance of providing their clients with the most up-to-date advice possible. And the popularity of equity release as a part of retirement planning means that the demand for qualified equity release advisers has never been higher.

Read on to discover how passing the CeRER qualification can help you to expand your service portfolio, enhance your CV and add a new dimension to your mortgage advice business.

What is equity release?

For many people, their home is the most valuable asset that they own and so equity release has become a popular way for older homeowners to boost their retirement funds. Equity release allows homeowners to access capital from their home without having to sell it, by signing an agreement to repay the money at a later date.

The strong housing market and growing range of equity release products has led to rising demand for equity release advice. All of the evidence points to demand remaining strong, which makes equity release products a great addition to any mortgage advisor’s portfolio.

The two main equity release options are home reversion plans and lifetime mortgages, and sales of these products are regulated by the FCA (Financial Conduct Authority). Mortgage advisers need to pass an approved equity release qualification in order to offer their clients advice on these products.

What is the CeRER qualification?

The Certificate in Regulated Equity Release (CeRER) is one of the equity release qualifications that will provide you with the knowledge and understanding that you need in order to offer this advice to clients. This Level 3 course is FCA approved, Ofqual accredited and awarded by the London Institute of Banking & Finance (LIBF).

CeRER certification is awarded when you have completed your CeRER course and passed the required examination. You can then use the letters CeRER after your name, demonstrating to potential clients and employers that you have achieved this qualification.

What are the requirements for studying CeRER?

In order to study CeRER, you must be a qualified mortgage adviser who has passed either the Certificate in Mortgage Advice and Practice (CeMAP) qualification or a similar mortgage advice qualification. If you have already passed CeMAP, CeRER offers a great opportunity for career progression towards roles such as Senior Mortgage Adviser.

If you don’t already hold a suitable mortgage advice qualification, you can find more details about our CeMAP course here.

The CeRER qualification is primarily aimed at students aged 19+ but there are no specific academic requirements to enrol on the course. However you should be confident that you will be able to study at Level 3 standard in English.

What does the CeRER course cover?

The two units of the CeRER qualification will give you the detailed knowledge you need so that you can provide your clients with high quality financial advice on equity release products.

The topics covered in the first unit include the types of equity release that are available, when equity release is appropriate and the legal and regulatory aspects of equity release. In the second unit, you’ll learn how to assess your clients’ individual requirements and select the equity release products that best meet their needs.

The Simply Academy CeRER course covers the course material in four tutorials scheduled over two days. The lectures are delivered by Live Webinar with small class sizes so that you can engage with your fellow students and benefit from online tutor feedback. All Simply Academy tutors have in-depth industry experience and along with our high quality course materials, they help to make learning easy.

Enrolling on a CeRER online course means that you can join the lectures from any location.The lectures are all recorded which makes them a great resource if you need to go back over any of the sections. And we offer regular course start dates throughout the year, making our CeRER course the convenient way to qualify as a professional equity release adviser.

How do I become CeRER qualified?

After you have completed the CeRER course, you will need to sit an equity release exam in order to become CeRER qualified. You can book a CeRER exam at over 150 locations nationwide or alternatively you can sit the exam online with remote invigilation. You will receive details of how to register for your CeRER exam once you have enrolled on the CeRER course

The CeRER exam is two hours long and is presented in two sections. The first section covers the first unit of the CeRER course and contains 50 multiple choice questions. The second section assesses your understanding of the second unit of the CeRER course and includes 10 multiple choice questions on each of three case studies.

Once you have passed your exam, you will be awarded full CeRER certification and can begin to offer your clients advice on equity release products.

How much does the CeRER qualification cost?

At the time of writing, the Simply Academy CeRER Live Webinar course costs £325 plus VAT. This includes online access to the lectures and course materials plus online support from your tutor.

In addition to this, there is a £220 fee for your CeRER exam registration. Details of how to pay for the CeRER exam will be given to you when you enrol on your course.

Studying CeRER with Simply Academy

Simply Academy has been designing and delivering training courses for the Financial Services sector for over 15 years. Our in depth experience makes us the perfect partner to help you prepare to deliver equity release advice to your clients by achieving your CeRER certification.

You can book your CeRER course online through our course pages or for help with planning your studies, please feel free to get in touch with our friendly Student Support team. You can contact them by email at [email protected] or on Freephone 0808 208 0002.

 

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