Financial advice 'more important than ever'

Teachers' financial advice is "likely to be more important than ever", the ifs School of Finance has claimed. 

The educational and financial services charity claims more teachers are recognising this fact as they experience difficulties obtaining a suitable mortgage product.

Head of financial regulation Mark Roberts says the number of mortgage products available has decreased from 15,000 last year to 3,000 today as the credit crunch has taken its toll on the UK housing market.

He says: "Figures from the Association of Mortgage Intermediaries confirmed that ten per cent more first - time buyers have sought professional mortgage advice this year than last, with a similar figure for the re-mortgage market."

The School has says registration figures for people wishing to take the Certificate in Mortgage Advice and Practice (CEMAP) "remain buoyant".

A continuation of the current trend in registrations would lead to a successful year for the mortgage advisory industry.

CEMAP is a compulsory qualification for any financial investment advice professional wishing to handle consumer mortgage enquiries.



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