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The LIBF Certificate in Mortgage Advice and Practice

Unit 3 – Learning outcomes

On completing this qualification, you will:

  1. Know the regulatory definition of different types of mortgages, Buy to Let mortgages, Consumer Buy to Let mortgages, second charges and equity release.
  2. Know the house-buying process, the key parties involved and their roles.
  3. Know the process and implications of buying property at auction.
  4. Know the common types of borrower and how their main mortgage related requirements may differ and what factors may disqualify people from borrowing.
  5. Understand the main requirements of the Mortgage Conduct of Business Rules and the legislation affecting mortgages.
  6. Understand the economic and regulatory context for giving mortgage advice.

Unit 4 – Learning outcomes

On completing this qualification, you will:

  1. Understand the role of a Mortgage Adviser.
  2. Understand the purpose of additional security, including the role of guarantors.
  3. Understand the fees and charges involved in arranging a mortgage.
  4. Know the principal types of property defect that surveys can identify and understand their implications when seeking a mortgage.
  5. Understand the principal factors affecting the value of property.
  6. Understand the different forms of valuation and survey.
  7. Understand the need to obtain Local Authority planning consent for house development/extensions.

Unit 5 – Learning outcomes

On completing this qualification, you will:

  1. Understand the key features of the different types of mortgage repayment options and their benefits and drawbacks for different types of borrower.
  2. Understand the key features of the different types of mortgage product and interest rate options.
  3. Understand the main features and functions of different forms of life assurance and other insurances.

Unit 6 – Learning outcomes

On completing this qualification, you will:

  1. Understand the principles and procedures associated with raising additional money and the circumstances when further borrowing might be appropriate.
  2. Understand the principles, procedures and costs of transferring mortgages.
  3. Understand the principles of using mortgages within debt consolidation arrangements.
  4. Understand 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.
  5. Understand the legal rights and remedies available to lenders in respect of non-payment from borrowers.
  6. Understand the main provisions made by the State to assist consumers in difficulties over the repayment of mortgages.

Unit 7 – Learning outcomes

On completing this qualification, you will:

  1. Analyse consumers’ circumstances and suitable mortgage solutions taking account of any existing arrangements.
  2. Apply suitable mortgage solutions to specific consumers’ circumstances.