The Financial Intermediary & Broker Association (FIBA) and Association of Short Term Mortgage Lenders (ASTL) have proposed the launch of an education programme for the commercial property finance industry.
The programme would cover areas includes bridging, short-term finance, development finance and specialist buy-to-let.
Both associations stated that their aim for the education programme is to provide learning to people new to the specialist property finance industry who are either joining a lender or diversifying into the sector as a broker.
The programme will be reviewed and refined by stakeholders on an ongoing basis to ensure it is promoting the most appropriate behaviours and results.
ASTL CEO, Vic Jannels, commented: “Increased learning and education is always a positive thing and as we all work towards making the whole borrowing experience more comfortable, and less mysterious for our consumers, the best outcome will always be through advisers who know their subject and lenders who have a more holistic understanding of the whole process.”
FIBA and the ASTL also confirmed they are working with the London Institute of Banking & Finance (LIBF) on the creation of a series of optional e-learning modules.
“For many years I have been involved in education for our sector and these latest discussions are successfully building upon the previous ground work,” added FIBA executive chairman, Adam Tyler.
“In conjunction with the ASTL and the LIBF, we have now developed the essential framework to complete the building of an Education Programme that will suit all elements of our Industry. The early indications are that we have plenty of support to progress and this is for all of us to work together to reach the right outcome.”
LIBF head of financial services, John Somerville, said: “We’ve been working closely with FIBA and the ASTL to develop a quality education programme to improve professionalism and standards within bridging and development finance.
“Our aim is to help those in the sector – brokers or lenders – develop a greater understanding of the industry as well as each other’s policies and procedures to improve efficiencies and ultimately customer outcomes.”
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