Thursday, August 11 2022

The Financial Intermediary & Broker Association and the Association of Short Term Mortgage Lenders have confirmed the structure of their commercial real estate finance education program, which will launch later this year.

FIBA and ASTL say they are working with the London Institute of Banking & Finance on a series of optional e-learning modules that will cover bridging, short-term finance, development finance and buy-to-let specialized. Completion of the modules will be recognized through the award of a LIBF digital badge and Continuing Professional Development accreditation.

The bodies say the aim of the ‘programme is to raise professional standards within the specialized real estate finance industry, to improve understanding of the roles played by brokers, lenders and other professionals throughout the term of a loan, and to provide agreed knowledge levels set by the industry as a baseline standard to provide clients with the best possible results at all times.

“The program will help ensure that candidates are able to define and explain the various fundamentals of specialist real estate finance, including how it fits into the broader mortgage industry, and to identify and develop learner’s key competences.

The 10 modules of the program cover:

Overview of specialized real estate financing
· Basic knowledge of business incorporation – PLC, LLP, sole proprietorship, etc.
Basic loan structures
Risk and regulation
Other parties involved in a specialized real estate financing transaction
bridging loans
Development financing
Commercial financing
Buy to rent mortgages
The practical application of specialized real estate financing

FIBA and ASTL announce that they are currently naming authors for each of the modules and will launch the program at the ASTL’s annual conference in London on October 20.

ASTL Chief Executive Vic Jannels said: “We have been working alongside our FIBA ​​colleagues for over a year now to build support and plan the details of such a program, and be able to confirm the framework is an important step.

“We believe the results of the program will provide advisors with a more holistic understanding of the whole process and make the borrowing experience more comfortable and less mysterious for consumers.

“We will not insist that our members only work with brokers who have completed the program, or that brokers only work with lenders whose employees have completed the course, but we want to encourage engagement in the industry as a whole, not just as an individual -out of participation, but as part of an ongoing environment of continuous learning.

FIBA Executive President Adam Tyler said: “The confirmation of this framework is, I believe, an important moment for our industry. I have been involved in educating our industry for many years and this program successfully builds on previous groundwork to deliver a collaborative initiative that is recognized as the definitive learning program for real estate finance commercial.

“Working with ASTL and the London Institute of Banking and Finance, we have now developed the essential framework for the program and are now appointing authors for the modules, which will help us deliver the right results to participants, and ultimately to clients.”

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