Exclusive: Over 100 people pass professional specialist finance qualification

The CPSP was launched as a joint initiative from the Association of Short Term Lenders (ASTL), Financial Intermediary and Broker Association (FIBA) and London Institute of Banking and Finance (LIBF) to “consolidate and build specialist property finance skills and knowledge, to help you work more effectively with brokers, lenders, solicitors and valuers”.

The certificate, which is online, covers lending structures and different loans, regulations including Consumer Duty, bridging loans, development finance, commercial mortgages and buy-to-let mortgages.

The average time to completion is six months, but applicants have up to 12 months to complete the unit.

The scheme opened for registration in March last year, going live in May. In August, the bodies reported that around 50 people had passed the CPSP.

The trade bodies said that there had been more than 500 registrations so far and over 100 people had passed gaining the qualification, which is “just the start for this programme”.

Gordon Reid, business development manager at LIBF, said: “At LIBF we are very proud to have developed the CPSP programme for the benefit of the specialist finance sector, in association with FIBA and the ASTL.

“This is a fantastic initiative, designed to raise standards and ensure that clients receive the highest quality of advice available to them. Since its launch in mid-2023, over 500 advisers have registered for the programme and nearly 100 have completed it, passing the end of programme assessment.

“The feedback we have received from learners has been consistently positive and we are keen to work with the industry to ensure that all those who would benefit from completing it, understand the benefits and have access to the programme.”

Adam Tyler, FIBA consultant, added: “As we move into 2024, the CPSP has now gained a huge amount of momentum and the milestones reached in 2023 are just the start for this programme. Whilst we were at the heart of the development of the CPSP, this is now an industry-wide initiative to help and enhance the knowledge of all those already involved as well as those new to specialist property finance.

“The important thing is that we all continue together to promote and support this initiative throughout the next year and beyond.”

Vic Jannels, CEO at the ASTL, said: “It provides a definitive and targeted education programme for the short term and specialist lending sector and participants who complete the modules will be recognised through the award of an LIBF digital badge and accredited for CPD purposes.

“One of the most impressive things about the programme is the diverse way in which the information is presented to target the different ways that people learn, through a mixture of text, video and case studies.

“We really believe that this is a valuable investment of time for anyone who is serious about advancing their career in the specialist property finance sector and delivering the best outcomes for customers.”

He noted: “Specialist lending volumes are increasing, and short-term mortgage books are growing. More brokers and, importantly more customers, are realising the benefits of the solutions that specialist property lenders can provide them and this sector is becoming an increasingly more important cog in the overall mortgage market.

“So, being able to demonstrate a commitment to professionalism and expertise in this sector is only going to become more important for brokers and industry professionals.”