The two trade bodies have joined forces with the London Institute of Banking & Finance (LIBF) to develop 10 optional online modules that will be available for students from 1st January 2023.

The modules span bridging, development finance, and specialist BTL, and those taking them will be awarded an LIBF digital badge and accredited for CPD purposes.

The confirmed framework provides details about the course’s goals and the 10 modules that will be included in it.

The topics to be covered in the education programme include:

• overview of specialist property finance
• basic knowledge of business regulations (PLC, LLP, and sole trader etc)
• basic lending structures
• risk and regulation
• other parties involved in a specialist property finance transaction
• bridging loans
• development finance
• commercial finance
• BTL mortgages
• the practical application of specialist property finance

Its aim is to raise professional standards within the industry and bolster understanding of what roles brokers, lenders, and other professionals play during the life of a loan.

Additionally, the line-up will offer industry-set levels of knowledge as a base standard to continuously give customers the best possible end results.

The programme will help to make sure those taking it are able to outline and explain essential topics in the field, including its relation to the wider mortgage sector, and to identify and develop key skills.

•   FP Show 2021 - The Big Debate: Do we need a specialist finance qualification?
•   FIBA and ASTL aim to launch education programme by end of 2022
•   Paragon and FIBA enhance service propositions

FIBA and the ASTL are currently choosing authors – who will be announced over the summer – for all the modules in preparation for the launch taking place at the annual ASTL conference in London on 20th October.

Adam Tyler, executive chairman at FIBA, said finalising the framework was an important moment for the industry.

“I have been involved in education for our sector for many years, and this programme is successfully building upon a previous groundwork to deliver a collaborative initiative that is recognised as the definitive learning programme for commercial property finance,” he said.

Vic Jannels, CEO at ASTL, added that he was eager to introduce the modules and, as the association has been working with FIBA for over 12 months to build support and plan the details, being able to confirm the framework was an important milestone.

“We believe that the outcomes of the programme will provide advisers with a more holistic understanding of the whole process and make the borrowing experience more comfortable and less mysterious for consumers.

“We won’t be insisting that our members only work with brokers who have been through the programme, or that brokers only work with lenders whose employees have completed the course, but we want to encourage engagement across the industry, not just as a one-off participation, but as part of an ongoing environment of continued learning.”

The news follows an industry debate held at the 2021 Finance Professional Show in London, where the majority of the panel and audience felt a specialist finance qualification should be made mandatory as an entry requirement to do bridging.