Mortgage Advice and Practice Certificate (MAPC)

Course Syllabus

Appropriate Examination 1

UK Financial Services, Regulation and Ethics (ApEx 1)

• U1 . The purpose and structure of the UK financial services industry
• U2 . The main financial asset classes and their characteristics, covering past performance, risk and return
• U3. The main financial services product types and their functions
• U4. The main financial advice areas
• U5. The process of giving financial advice, including the importance of regular reviews of the consumer's circumstances
• U6. The basic legal concepts relevant to financial advice
• U7. The UK taxation and social security systems and how they affect personal financial circumstances
• U8. The impact of inflation, interest rate volatility and other relevant socio-economic factors on personal financial plans
• U9. The FSA's approach to regulating firms and individuals
• U10. How the FSA's rules affect the control structures of firms and their relationship with the FSA
• U11. How the FSA's Conduct of Business rules apply to the process of advising customers / clients
• U12. How the anti-money laundering rules apply to dealings with private and intermediate customers
• U13. The main features of the rules for dealing with complaints and compensation
• U14. How the Data Protection Act 1998 affects the provision of financial advice and the conduct of firms generally
• K1 . The main aims and activities of the Financial Services Authority (FSA) and its approach to ethical conduct by firms and individuals
• K2 . How non-tax law and regulations impact upon firms and the process of advising clients

Appropriate Examination 5

Mortgage Advice (ApEx 5) and Integrated Learning Outcome (H2)

Mortgage Advice (ApEx 5)

• K1. The definition of a mortgage and a regulated mortgage contract
• K2 . The house-buying process, the key parties involved and their roles
• K3. The principal types of property defect that surveys can identify and understand their implications when seeking a mortgage, including the options available to consumers
• K4. The process and implications of buying property at auction
• K5. The common types of borrower and how their main mortgage related requirements may differ and what factors may disqualify people from borrowing
• U1. The economic and regulatory context for giving mortgage advice
• U2. The role of a mortgage adviser and the importance and principles of providing advice, including the key factors affecting the advice given
• U3. The implications for consumers of 'gazumping' and 'gazundering'
• U4. The purpose of additional security, including the role of guarantors
• U5. The fees and charges involved in arranging a mortgage, where these apply, the services they cover, when they become due, which are refundable and how the opportunity for refunds diminishes as the process nears completion
• U6. The principal factors affecting the value of property, including their implications for consumers seeking mortgages and when consumers should be referred for specialist advice
• U7. The different forms of valuation and survey and which might be appropriate for different properties and / or the borrower's circumstances
• U8. The main features and functions of mortgage payment protection insurance (MPPI) and life, accident, sickness and unemployment (ASU) insurance
• U9. The principles and procedures associated with raising additional money and the circumstances when further borrowing might be appropriate
• U10. The principles, procedures and costs associated with transferring mortgages
• U11. The principles of using mortgages within debt consolidation arrangements
• U12. The need to obtain Local Authority planning consent for house development / extensions
• U13. The implications for the borrower of the non-payment of mortgages, other breaches of the Mortgage Deed, non-payment of building insurance, non-payment of ground rent / service charges and the options available
• U14. The legal rights and remedies available to lenders in respect of non-payment from borrowers
• U15. The main provisions made by the State to assist consumers in difficulties over the repayment of mortgages
• U16. The main requirements of the Mortgage Conduct of Business Rules and the legislation affecting mortgages
• U17. The key features of the different types of mortgage repayment options and their benefits and dis-benefits for different types of borrower
• U18. The key features of the common types of mortgage product and interest rate options
• U19. The structure and features of other types of mortgage and when they might be suitable for borrowers
• An1. Analyse consumers' circumstances and suitable mortgage solutions taking account of any existing arrangements
• A1. Apply suitable mortgage solutions to specific consumers' circumstances

H2 - Integrated Learning Outcome

The Integrated Learning Outcome does not have any specific objectives other than the overall learning objective as follows:

• Combine and apply the knowledge and understanding achieved in ApEx1 and ApEx5, demonstrating a clear understanding of how all this knowledge and understanding may be applied to real life situations.