CeRER Certificate in Regulated Equity Release (Level 3)

Format

Unit 1 has a 50-question objective exam in a multiple-choice format, while Unit 2 contains three case studies, each with 10 linked multiple-choice questions. These exams cover the units and course materials learned through the module, which you must pass before earning your CeRER designation.

Duration

Below are the exam durations for each assessment of this course:

• Unit 8 – Fundamentals of Equity Release: 1 hour.

• Unit 9 – Equity Release Solutions: 1 hour.

Availability

All exams from both modules are available via the awarding body. These exams can be taken in the comforts of your home via remote invigilation or at one of the 150 Pearson VUE centres across the country. We'll provide you with all the support and resources you need to prepare for your exams. (See Additional Benefits tab)

You must also book your preferred examination date first and pay your exam fees if you choose to sit at a test venue. Exam fees may vary depending on location, so always shop for a venue that offers competitive rates.

How does the Exam Pass Guarantee work?

We have found our Virtual Classroom training has provided higher pass rates, which has made us confident to offer an Exam Pass Guarantee, so you know we’ll support you until you are certified.

With our Exam Pass Guarantee, if you do not pass the exam after attending this training course with us, you will be eligible to attend the same training again for free.

All we ask is that you:

•    Attend all class days and complete all assignments
•    Take the exam within 30 days of completing your Virtual Classroom training
•    Request your course re-enrolment within 30 days of the failed exam attempt

Please Note:

Students retaking the course are required to use any materials or books distributed to them in their original course session. Failure to provide these materials will result in the student being charged for replacement materials.

*Exam Pass Guarantee does not include the resit exam; this would need to be purchased at an additional cost.

Our CeRER training course is tailored towards mortgage experts who want to advise clients and specialise in equity release. If you have relevant experience or qualifications and want to expand into this particular financial service product, this course is for you!

To study the Certificate in Regulated Equity Release virtual classroom course, we recommend that you:

• Are at least 16 years old (or have the consent of a parent or guardian).

• I have achieved the Certificate in Mortgage Advice and Practice qualification.

• Have a solid understanding of the English language.

• Have basic numerical skills.

• Have access to a PC or laptop (This course is compatible with both Mac and Windows).

• Have access to a secure internet connection.

Here are the benefits that you can get from enrolling to our CeMAP and CeRER courses:

• High Exam Pass Rates: We are one of the UK's leading CeMAP and CeRER training providers.

• CeRER Qualification: Receive the CeRER qualification after passing your exams, allowing you to legally provide equity release advice in the UK financial service industry.

• Tutor-led Virtual Classrooms: Participate in engaging live classroom sessions led by mortgage experts in the industry.

• Exam Pass Guarantee: We will provide ongoing support and allow you to retake the same training course until you achieve certification.

• 2-Day Classroom Duration: Gain a comprehensive understanding of the topics and concepts in a focused, structured 2-day training programme.

• Mock exams: Be prepared for your CeRER exams with our mock exams to help you simulate and get a feel of the actual examinations.

• CeRER digital courseware: Receive a comprehensive digital course material that you will use as you sit in the virtual classroom sessions.

• Interest-free payment options: Our interest-free payment options make your education more accessible so you can study the course and start your learning journey without worries.

• Network with Peers: Connect with other professionals enrolled in the course and expand your professional network within the mortgage industry.

• TOTUM Pro Card: Shop with discounts using TOTUM Pro Card, which offers discounts in selected stores and websites.

What is an Equity Release?

An equity release is a financial product that allows homeowners to access a portion of the value held in their property—either lump sum or instalments—tax-free while still living in it.

What are the two types of Equity Release?

There are two ways for homeowners to release equity in their properties: Lifetime Mortgages and Home Reversion Plans.

With a lifetime mortgage, you borrow money against the value of your home, and you don't have to make monthly repayments on the capital amount. Instead, the interest on the loan rolls up over time and is repaid, along with the original loan amount, when you die or move into long-term care.

On the other hand, home reversion plans require that you sell all or a portion of your home's ownership to a provider in exchange for a lump sum of cash. You retain the right to live in the property for life, but you will no longer own the full value of the house.

How is Equity Release regulated?

Equity release is a complex financial product with significant implications, so the Financial Conduct Authority heavily regulates it in the UK to protect consumers.

As the regulating body in the financial service industry, the FCA also sets the rules that Financial Providers and Advisors should follow to ensure fair treatment of clients. Among the rules they enforce is requiring financial advisors to have relevant training and qualifications before they can practice their profession.

What is the qualification for Equity Release?

The FCA requires all equity release advisers to have an appropriate professional qualification, and it sets out a list of approved qualifications in the “Training & Competence” chapter of its Handbook of Rules. This list of approved qualifications includes the Certificate in Regulated Equity Release (CeRER) qualification.

CeRER is worth studying because of the essential skills you'll gain from the qualification. You'll also gain professional recognition that boosts your employability and opens various job opportunities within the industry.

What level is CeRER?

The CeRER qualification is equivalent to A-Levels or Level 3 qualifications or equivalent. Earning the qualification means demonstrating in-depth knowledge, skills, and commitment to Mortgage Advice.

What is the pass mark for CeRER?

The pass mark for the CeRER exam typically falls around 70%. Learning CeRER is easy with the right support and resources! At e-Careers, our comprehensive CeRER course training will provide you with all the support you need for this level. (See Additional Benefits tab)

Exam pass guarantee

Our Virtual Classroom training has resulted in higher pass rates, assuring us to offer an Exam Pass Guarantee. Rest assured, we are committed to supporting you until you achieve certification.

With our Exam Pass Guarantee, if you do not pass the exam after completing this training course with us, you will be eligible to retake the same training free of charge.

We kindly ask that you:

• Attend all class days and complete all assignments

• Take the exam within 30 days of finishing your Virtual Classroom training

• Submit your request for course re-enrolment within 30 days of an unsuccessful exam attempt

*Please note that students retaking the course must utilise any materials or books distributed during their initial session. Failure to do so may result in charges for replacement materials.

*The Exam Pass Guarantee does not cover exam fees, which must be purchased separately.

What happens after CeRER?

Upon completing CeRER, you'll be awarded the certification by the Walbrook Institute London! and start working as an Equity Release Adviser within the industry. You can also use your CeRER qualification to give equity release advice alongside your mortgage expertise.

What jobs can I apply for after obtaining my CeRER qualification?

Once you have completed the full courses and necessary exams, you can start your own mortgage brokerage business or apply for jobs in the sector.

Some of these positions include:

Mortgage Underwriter

Mortgage Underwriters analyse loan applications, evaluate risks, and determine if applicants meet mortgage approval requirements. The average salary for a Mortgage Underwriter is £30,000.

Mortgage Administrator

Mortgage Administration roles involve supporting the mortgage process by completing paperwork accurately, establishing mortgage payment methods, and coordinating with clients and lenders. The average salary for this position is £24,000.

Mortgage Sales Manager

A Mortgage Sales Manager or Mortgage Relationship Manager is responsible for developing and maintaining relationships with clients, Mortgage Brokers, and other stakeholders. The annual salary for Mortgage Sales Managers is £56,000.

Mortgage Compliance Officer

Mortgage Compliance Officers ensure that mortgage-related activities within an organisation comply with regulations and industry standards. Their annual salary is £35,000.

Qualified Mortgage Adviser

Qualified Mortgage Advisers evaluate clients' financial situations, recommend suitable mortgage products, and guide them through the application process. With a specialisation in equity release, their salary can go as high as £50,000, and be entitled to commissions for experienced professionals that can reach up to £80,000.

Equity Release Adviser

Equity Release Advisers specialise in recommending suitable equity release solutions for their client's financial needs. The average salary for an Equity Release Adviser is £55,000.