The certificate was launched earlier this year as a specialist module complementary to the Certificate in Mortgage Advice and Practice (CeMAP). CeLM forms part of the Advanced CeMAP provision. Those who have already completed CeLM can go onto achieve the Advanced CeMAP qualification by taking two further modules.
Mark Roberts, head of faculty financial regulation at ifs, said: “Equity release is a fast-growing area of lending in an otherwise quiet market. It is essential that advisers are suitably qualified and competent in order to give appropriate advice.
“We are delighted that the certificate has been so popular and feel that much of this is due to the ease with which advisers can be tested at local centres nationwide.”
Dean Mirfin, business development director at Key Retirement Solutions, said: “This is an impressive figure and good news for the sector. The ifs examination is the one chosen by Key Retirement Solution for our advisers. We believe it is in line with requirements needed to advise in this area and has a particularly good practical element.”
Nigel Spencer, head of marketing at Norwich Union Equity Release, said: “From a Norwich Union perspective this is good news and further evidence of regulation working and raising standards in the sector, not to mention increased consumer confidence.
“The market is still growing but maybe not as fast as expected; however the more advisers that reach the required standards and qualifications the more the market will be stimulated. It’s encouraging to see so many advisers willing to gain the extra qualifications.”
