LIBF
Level 3
QN: 501/0630/2
Curriculum Active
LIBF Level 3 Certificate in Regulated Equity Release
Official qualification regulated by Ofqual, awarded by LIBF. Classified as a Occupational Qualification. Total guided learning hours: 8 hours.
Qualification Level
Level 3
Awarding Body
LIBF
Syllabus Units
7 Units
Guided Hours
8 hrs
Instant access to interactive lessons, quizzes, and spaced revision.
Course Syllabus & Study Modules
Complete breakdown of verified curriculum topics and learning objectives.
1
Assessment of Mortgage Advice Knowledge (ASEW/ASSC)
Verified
Key Learning Objectives:
- Analyse the key features of different mortgage solutions and their suitability for different customers’ circumstances.
- Analyse the key features of different forms of property purchase and specialist mortgage lending and their suitability for different customers’ circumstances.
- Apply the rules and regulations governing mortgage lending, mortgage advice and the sale of associated mortgage protection arrangements.
- Apply the principles of ethical and sustainable advice to suit customers’ circumstances.
- Analyse the need for and main features and functions of mortgage protection.
2
Fundamentals of Equity Release Advice (FOER)
Verified
Key Learning Objectives:
- Demonstrate knowledge of the definition of equity release and the FCA regulatory definitions of a lifetime mortgage and a home reversion plan
- Demonstrate an understanding of the principles of equity release, the types of equity release schemes available and the circumstances for which such schemes might be appropriate
- Demonstrate an understanding of the types of consumer at whom equity release is targeted and their personal requirements, wants and needs
- Understand the circumstances in which equity release may be appropriate and how these are influenced by client preferences and financial needs
- Understand the impact of equity release schemes on clients’ future options’Demonstrate an understanding of the key features, relative advantages and disadvantages of different types of equity release arrangements and principal alternatives
- Demonstrate an understanding of the rules relating to state benefits as well as taxation, including sources of information and specialist advice regarding the implications of clients entering into an equity release arrangement
3
Mortgage Law, Practice & Application (MRT1)
Verified
Key Learning Objectives:
- Understand the regulatory definition of different types of mortgage and regulated mortgage contracts.
- Understand the process and implications of buying property at auction.
- Understand the common types of borrower and how their main mortgage-related requirements may differ and what factors may disqualify people from borrowing.
- Understand the main requirements of the MCOB rules and some legislation affecting mortgages.
- Understand the economic and regulatory context for giving mortgage advice.
- Understand the role of a mortgage adviser and the principles of providing advice to deliver a fair outcome for the customer.
- Understand the use of additional forms of security.
- Understand the fees and charges involved in arranging a mortgage.
- Understand types of property defects that surveys can identify and their implications when seeking a mortgage, including the options available to consumers and lenders.
- Understand the principal factors affecting the value of property.
- Understand the different forms of valuation and survey and which might be appropriate for different properties and/or the borrower's circumstances.
4
Mortgage Products and Post Completion (MRT2)
Verified
Key Learning Objectives:
- Understand the principles, procedures and considerations associated with raising additional money.
- Understand the principles, procedures and costs of transferring and amending mortgages.
- Understand the implications of consolidating debt appropriately within a mortgage.
- Understand the implications of the non-payment of mortgages and other breaches of the mortgage deed.
- Understand the legal rights and remedies available to lenders in respect of non-payment from borrowers.
- Understand the structure and features of different types of mortgages.
5
Unit 1- Industry, Regulation and Key Parties – Part 1 (FRE1)
Verified
Key Learning Objectives:
- Understand the UK financial services industry in its European and international context.
- Identify how the retail consumer is served by the financial services industry.
- Apply the legal concepts and considerations relevant to financial advice.
- Understand the development of financial services regulation.
- Evaluate the FCA’s and PRA’s responsibilities and approach to regulation.
6
Unit 2- Equity Release Solutions (EQRS)
Verified
Key Learning Objectives:
- Demonstrate the ability to apply suitable equity release solutions for the different circumstances of clients
- Demonstrate the ability to analyse the suitability and affordability of the different types of equity release schemes and their principal alternatives for different types of clients
- Demonstrate the ability to assess the relative advantages, disadvantages and potential risks to clients associated with taking out equity release schemes, and when these might arise
7
Unit 2- Skills, Principles and Ethical Behaviours Part 2 (FRE2)
Verified
Key Learning Objectives:
- Identify the skills required when advising clients.
- Apply regulatory principles, requirements and regulations to client relationships to ensure fair and ethical outcomes.
- Apply ethical principles to professional behaviour and judgements at work.
Regulatory & Verification Details
- Qualification Number (QN)
- 501/0630/2
- Regulated Status
- Available to learners
- Awarding Body
- LIBF
- Qualification Type
- Occupational Qualification
- Operational Start
- Sept 2010