The Diploma in Mortgage Advice and Practice (DipMAP®) is a QCF* Level 4 qualification for individuals who wish to gain a higher level of skills and knowledge for mortgage advice and demonstrate their commitment to continual learning.
DipMAP® enables mortgage professionals who wish to set themselves apart from their peers and to go beyond the basic Level 3 qualification requirement. It demonstrates to clients and employers that holders have an enriched understanding of the broader financial services environment and the residential lending sector in the interests of providing high quality, ethical advice to consumers.
Applicants are required to hold the QCF Level 3 Certificate in Mortgage Advice and Practice (CeMAP®), or an equivalent qualification.
Studying DipMAP® will give you a thorough understanding of:
- the structure of the UK financial services industry and its role in serving the consumer
- financial services regulation, the FCA’s approach and the legal responsibilities of regulated advisers
- the essential concepts and importance of risk
- ethical behaviour and the FCA’s principles-based approach
- the Code of Ethics and professional standards the principal types of survey, property defects and other factors that can affect the value of the property
- the nature and impact of relevant legislation and regulatory requirement on the mortgage market
- the purpose of additional security
- how finance and planning for self-build projects is arranged
- the lending practices and products for niche mortgages
- the need for insurances associated with arranging a mortgage and available state benefits
- the implications for the borrower and lender of the non-payment of mortgages
- the implications of the different options for raising additional money
- the essential skills required when advising clients
- can be completed in 9 months
- comprehensive distance-learning support
- case-study-based learning and assessment partly multiple choice testing – results provided on the day
- DipMAP® is formally recognised as an appropriate qualification by the Financial Conduct Authority
- upon successful completion you can use the letters ‘DipMAP’ after your name
Important Qualification Related Information
DipMAP® consists of two mandatory units:
Unit 1: Financial Services, Regulation and Ethics (FSRE) Y/601/2801
The FSRE unit explores the environment within which the financial services industry operates and the key components and interrelationships of the financial system. The unit focuses on the principles underpinning the regulatory framework and the implications for the financial advice process, and develops the learners’ understanding of the importance of the concept of risk with specific focus on how risks relate to institutions and individuals.
The unit also focuses on the legal concepts relevant to financial advice and the interplay between regulation and legislation. The unit examines the FCA’s approach to ethical and unethical behaviours and develops students’ understanding of the Code of Ethics. Finally, the unit introduces the concept of the skills required to advise clients.
View the FSRE aims, learning outcomes and assessment criteria..
Unit 2: Advanced Mortgage Advice (AMA) J/502/6358
The AMA unit considers the commercial and regulatory environment, products, services and legislation that inform the mortgage advice process. AMA develops an understanding of the importance of consumer oriented advice, sound communication and appropriate ethical behaviours through the practical application of accumulated knowledge and skills.
View the AMA aims, learning outcomes and assessment criteria.
Unit 1 - Financial Services, Regulation and Ethics (FSRE)
FSRE is assessed by a 2-hour objective test comprising 100 multiple-choice questions.
The FSRE objective test is available at over 150 Pearson VUE test centres nationwide with the result provided on the day.
Unit 2 - Advanced Mortgage Advice (AMA)
AMA is assessed by a 3-hour written examination with three elements: a recommendation in response to a pre-released customer 'fact-find' a report requiring explanation of a mortgage concept or technical issue, and a short question and answer section.
View AMA examination venues.
It is recommended that you spend 370 learning hours of study time on DipMAP®. The complete course is achievable in 9 months.
DipMAP® Study Timetable 2014
DipMAP® Study Timetable 2015
You will be provided with comprehensive core learning resources in addition to support through a variety of resources, including:
- a learner handbook, covering key qualification features and study technique
- an analysis tool to confirm your existing knowledge and identify potential gaps
- an online learner forum, providing access to tutor support / facilitation for technical content and study skills and discussion with fellow learners
- a comprehensive core study manual, including formative learning exercises at topic level
- further reading references
- specimen assessments and guide to assessment technique
- a FSRE eBook for you to download and use on devices such as eReaders and smart phones
- audio content based on certain topics within FSRE
Please note that in order to reflect any changes to syllabuses, including matters arising from the annual Budget, the study materials for some units are updated annually, usually in July. It is your responsibility to ensure you are studying from the most up-to-date materials. The most up-to-date learning materials, updates and amendments can be found on my ifslearning.
Please be aware when selecting your preferred study session using the timetables above that fees are payable if you wish to change your DipMAP® Unit two: Advanced Mortgage Advice (AMA) examination date after registration.
By phone - call Further Education Customer and Student Enquiries on +44 (0) 1227 818609 (option 1). Please have your VISA/MasterCard/debit card to hand when you call.
By post/fax - download and complete the registration form. To view this file you need to have Acrobat Reader installed on your computer. This is free and available from the Adobe website. When you have completed the form either send it to the address stated on the form or fax it to +44 (0) 1227 784331.
Membership of the Institute of Financial Services provides access to cost-effective and appropriate services that meet the very specific needs of the financial and mortgage adviser community and costs just £72 per annum.
The FSRE unit of DipMAP® is shared with the QCF Level 4 Diploma for Financial Advisers (DipFA®) which allows for transfer of credit for this unit should you already hold DipFA®.
Alternatively, successful completion of DipMAP® will allow you to claim credit for the FSRE unit in DipFA® should you be interested in further developing your competence in financial advice.
If you wish to take up further study with the Institute a DipMAP® holder can proceed, with credit, to the Professional Certificate in Banking (PCertB®). Additionally you may consider other ifs Level 4 qualifications such as the ifs Level 4 Diploma in Retail Banking Conduct of Business (DipRBCB®).