The two organisations have partnered to modernise the Chartered Member designation, having not previously offered mortgage professionals a route to Chartership.
Qualified mortgage advisers on the Financial Conduct Authority (FCA) register with evidence of at least 3-4 years of relevant CPD will be able to apply. Additionally, experienced trade and transaction banking specialists will also be eligible. As well as evidence of their CPD completion, applicants will be required to undertake a new ethics e-learning module.
The development supports the FCA’s work to continue to improve standards and support customers through initiatives such as Consumer Duty.
The LIBF, part of Walbrook Institute London, confirmed it would not be changing its Chartered Associate or Chartered Fellow criteria. Charterships are awarded by the LFBF and administered by the LIBF.
Harry Weber-Brown, director of partnerships at the LFBF, said: “Chartered status is the hallmark of professionalism, recognising not only technical expertise in banking and finance but also a steadfast commitment to ethical practice, continuous professional development and delivering positive outcomes for customers.
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“We’re delighted to partner with LIBF to create a pathway to Chartered status for skilled and experienced professionals.
“As the organisation responsible for awarding Chartered status, we’re proud to recognise the highest standards in banking and finance. We hope this pathway will enable more professionals to achieve Chartered status and further strengthen trust, excellence and professionalism across the sector.”
Chris Ray, chief operating officer at the LIBF, added: “Consumer trust and professional standards are under the microscope like never before, and the mortgage firms we’ve spoken to are incredibly supportive of this development.
“As the biggest provider of mortgage qualifications in the UK, we’re committed to raising the profile of the sector, and opportunities for individuals to demonstrate their professional standards and ethics. We’re proud to work with LFBF to offer this additional Chartership route to experienced mortgage advisers with LIBF qualifications and offer them a clear pathway to higher professional recognition.
“I’d encourage as many of our mortgage advice members as possible to take a look at our website and make a plan for how they can become Chartered.”
