Certificate in Mortgage Advice and Practice (CeMAP) Module 3 Practice Exam

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Which group may arrange an execution-only mortgage without first receiving advice?

Any customer who requests it.

High-net-worth individuals.

Execution-only deals are allowed for customers who are capable of understanding the risks and making their own decision without advice. High-net-worth individuals are typically treated as professional clients with sufficient experience and wealth to assess a mortgage on their own, so they may arrange an execution-only mortgage after recognizing they are not receiving advice and that the lender will not assess suitability.

The other groups listed aren’t automatically eligible for execution-only arrangements. Right-to-buy purchases, debt-consolidation remortgages, or any customer simply wanting to proceed without advice don’t by themselves justify an execution-only path; appropriate advice or suitability checks are generally still required to protect the customer.

Those who are purchasing property under the right to buy legislation.

Those who are seeking to consolidate debt by remortgaging.