The Certificate in Regulated Equity Release (CeRER®) is an FCA-approved QCF Level 3 qualification specific to the UK.
In order to achieve a CeRER®, you must first pass a Certificate in Mortgage Advice and Practice (CeMAP®). A further module, consisting of two units on Equity Release (ER), then completes your CeRER® training.
The Financial Conduct Authority (FCA) is responsible for regulating the marketing and sales of equity release products. This includes lifetime mortgages and home reversion plans.
If you plan to advise on equity release, you are required to hold an appropriate qualification. Upon completion of the CeRER®, you will meet these regulatory requirements and have developed a thorough knowledge of the equity release environment.
What you will learn
CeRER® is made up of two mandatory units and two multiple choice tests:
Unit 1 - Fundamentals of Equity Release (FOER)
FOER culminates in a multiple choice objective test with 50 questions.
Unit 2 - Equity Release Solutions (EQRS)
The test for EQRS is an objective test comprising 3 case studies, each consisting of 10 multiple choice questions.
Upon completion of the CeRER® you will confidently understand:
• the definition of a Home Reversion (HR) plan and alternative options for equity release/capital raising.
• the principles of equity release, the variety of equity release schemes that are available, and the appropriate applications for each type of scheme.
• the types of consumer to whom equity release may be recommended and their requirements from such a scheme.
• the circumstances in which equity release may be appropriate and how your recommendation must be influenced by the consumers’ preferences and financial requirements.
• recommending suitable equity release solutions depending on the different circumstances of each consumer.