The Financial Intermediary and Broker Association (FIBA) and Association of Short-Term Mortgage Lenders (ASTL) are working with The London Institute of Banking and Finance (LIBF) to create optional educational programmes which will be recognised with a digital LIBF badge and CPD accreditation.
The aim is to provide learning to people who are entering the sector either as a broker or lender.
The modules will cover the basics of specialist property finance such as the structure of different types of businesses that might require it and the finance available.
It will also give insights into how each kind of finance is underwritten and how they work.
The final module of the programme will be a series of case studies, where the learner will be given different scenarios so they can roleplay how to package a case.
The programme will be reviewed on an ongoing basis to make sure it is up to current industry standard.
Adam Tyler, executive chairman at FIBA, said: “For many years I have been involved in education for our sector and these latest discussions are successfully building upon the previous groundwork.
“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.”
John Somerville, head of financial services at LIBF, said the aim of the programme was to help lenders and brokers develop a “greater understanding of the industry” as well as each other’s policies and procedures.
Vic Jannels, chief executive at the ASTL, added: “Increased learning and education is always a positive thing. 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.”