FIBA and ASTL confirm education program’s framework

The program launches at the ASTL Annual Conference in October

FIBA and ASTL confirm education program’s framework

The Financial Intermediary & Broker Association (FIBA) and the Association of Short Term Mortgage Lenders (ASTL) have confirmed a framework for their ongoing education program for the commercial property finance industry, which is due to be launched later this year.

FIBA and the ASTL are working with the London Institute of Banking & Finance (LIBF) on the creation of a series of optional e-learning modules that will cover bridging, short term finance, development finance and specialist buy to let. The modules will be recognized through the award of an LIBF digital badge and accredited for CPD purposes.

The confirmed framework provides information on the desired outcomes for the program and the 10 modules that it will contain.

The topics for these modules include an overview of specialist property finance, basic knowledge of the constitution of a business, basic lending structures, risk and regulation, other parties involved in a specialist property finance transaction, bridging loans, development finance, commercial finance, buy-to-let mortgages, and the practical application of specialist property finance.

Read more: FIBA and ASTL launch education program.

The program aims to raise professional standards within the specialist property finance industry; improve understanding of the roles played by brokers, lenders and other professionals throughout the life of a loan; and to provide agreed levels of knowledge set by the industry as a base standard to provide customers with the best possible outcomes at all times.

FIBA and the ASTL are currently appointing authors for each of the modules in preparation for the launch of the program at the ASTL Annual Conference in London on October 20.

“We have been working alongside our colleagues at FIBA for over a year now to build support and plan the details for such a program, and being able to confirm the framework is an important milestone,” Vic Jannels, chief executive at the ASTL, said.

“We believe that the outcomes of the program 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 program, 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 continuing learning.”

Adam Tyler, executive chairman at FIBA, believes that confirming the framework is an important moment for the industry.

“I have been involved in education for our sector for many years and this program is successfully building on a previous groundwork to deliver a collaborative initiative that is recognised as the definitive learning program for commercial property finance,” Tyler said. “Working in conjunction with the ASTL and the London Institute of Banking & Finance, we have now developed an essential framework for the program, and we are now appointing authors for the modules, which will help us to deliver the right outcomes to participants, and ultimately to customers.”