IFS offers level 4 exam for mortgages

The Institute of Financial Services is offering a new level four qualification for mortgage brokers.

The diploma in mortgage advice and practice was piloted last year and builds on the content tested through the ifs’ flagship level three Cemap exam.

The diploma will test the ability to evaluate a client’s circumstances and justify why a product recommendation is suitable.

Chief executive Anne Kiem says the qualification was developed after industry feedback.

She says: “The mortgage market review does not say advisers have to be level-four-qualified but some people are saying they want to set themselves apart.”

The Dipmap costs £520, reduced to £375 for advisers who have already taken the diploma for financial advisers.