LIBF CeMAP (Certificate in Mortgage Advice and Practice) — Study Guide
Free, topic-by-topic study notes for the LIBF CeMAP (Certificate in Mortgage Advice and Practice) exam. Read a chapter, then practice it.
UK Financial Services Regulation
CeMAP is built on the FCA's rulebook. This topic covers the FCA's statutory basis and objectives, the Consumer Duty, authorisation to advise on mortgages, and the consumer safety nets of the FSCS and the Financial Ombudsman Service.
Mortgage Law and Property
The legal foundations of a mortgage: what makes a loan a 'regulated mortgage contract', how property is owned and secured, the priority of charges, and the difference between a lender's valuation and a buyer's survey.
MCOB: Advising, Selling and Disclosure
The conduct rules that govern the sale itself, drawn from the FCA's Mortgages and Home Finance: Conduct of Business sourcebook (MCOB): suitability of advice, execution-only limits, pre-contract disclosure via the ESIS, and up-front disclosure of service and fees.
Responsible Lending and Affordability
The affordability regime introduced by the Mortgage Market Review and the Mortgage Credit Directive: verified income, interest-rate stress testing, the rules on interest-only lending, and the meaning of the APRC.
Mortgage Products and Repayment Methods
The range of products an adviser must be able to compare: repayment versus interest-only, and the main interest-rate options — fixed, tracker, discount, capped — plus features such as offset.
Arrears, Post-Completion and Protection
What happens after completion and when things go wrong: the fair treatment of borrowers in arrears under MCOB 13, the insurance a lender requires, protection products, and the adviser's anti-fraud and anti-money-laundering duties.
Practice by topic
Jump straight into free practice questions for any single LIBF CeMAP (Certificate in Mortgage Advice and Practice) topic.