Webinars – Mortgage Strategy

ASTL and FIBA to launch 10-part digital property finance course

Roger Baird — Fri, 22 Jul 2022 09:44:59 +0000

The Financial Intermediary & Broker Association and Association of Short Term Mortgage Lenders have confirmed the structure of their commercial property finance education programme, to be launched later this year.

FIBA and the ASTL say they are working with the London Institute of Banking & Finance on a series of optional e-learning modules that will cover bridging, short-term finance, development finance and specialist buy-to-let. Completion of the modules will be recognized by the award of an LIBF digital badge and continuing professional development accreditation.

The bodies say the purpose of “the programme is 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.

“The programme will help ensure that candidates are able to define and explain different fundamentals of specialist property finance, including how it fits within the wider mortgage sector, and to identify and develop key learner skills.”

The 10 modules in the programme cover:

· Overview of specialist property finance
· Basic knowledge of the constitution of a business – PLC, LLP, sole trader etc.
· 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
· The practical application of specialist property finance

FIBA and the ASTL say they are currently appointing authors for each of the modules and will launch the scheme at the ASTL annual conference in London on 20 October.

ASTL chief executive Vic Jannels says: “We have been working alongside our colleagues at FIBA for over a year now to build support and plan the details for such a programme, and being able to confirm the framework is 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 continuous learning.”

FIBA executive chairman Adam Tyler says: “Confirming this framework is, I believe, an important moment for our 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.

“Working in conjunction with the ASTL and the London Institute of Banking and Finance, we have now developed the essential framework for the programme and we are now appointing authors for the modules, which will help us to deliver the right outcomes to participants, and ultimately to customers.”

The post ASTL and FIBA to launch 10-part digital property finance course appeared first on Mortgage Strategy.

Four out of five homebuyers confuse valuation with survey: CSS

Roger Baird — Thu, 16 Dec 2021 10:16:20 +0000

Four out of five homebuyers still confuse a mortgage valuation with a survey, according to a poll by Countrywide Surveying Services.

This was the finding of a survey of over 250 industry professionals conducted during a webinar hosted by the valuation panel management services firm on 6 December.

They were asked if consumers thought a mortgage valuation is still thought of as a survey? An overwhelming 80% said homebuyers believe this to be the case.

Also, 86% of the audience said consumers did not know that a valuation could be completed by computer, with just 14% aware this could be the case.

The poll posed the question, in order to avoid consumer confusion, should a mortgage valuation ever be disclosed? This split the audience, with 54% saying they thought it should not be disclosed and 46% declaring that it should.

It also asked – should an information pack, including the legal documents and survey, be provided when a property is marketed? Three-quarters of attendees thought that it should be included.

The audience consisted of lenders, brokers, surveyors and other property professionals. It included Thom Wilkinson, a member of the Law Society’s Conveyancing and Land Law Committee and partner at Bishop and Sewell, as well as Mark Hayward, chief policy advisor at Propertymark.

Countrywide Surveying Services managing director Matthew Cumber says: “Despite mortgage valuations being a staple component within residential lending, they can often be misunderstood and much maligned.

“Educating consumers and streamlining the information required to buy and sell a home is why the Home Buying & Selling Group was set up and while this continues to do some great work, there is still some way to go.

“Meaning it’s up to us, as an industry, to continue raising consumer awareness around valuations and help homebuyers understand exactly what they need and what they are getting when they enter into the homebuying process.”

“As a business, we have to constantly evaluate how we best service the needs of lenders, intermediaries and buyers in the modern age. This is certainly an area we will continue to focus on in 2022 to ensure that all parties in the mortgage chain have access to the right information to enable them to make the most informed decisions possible.”

The post Four out of five homebuyers confuse valuation with survey: CSS appeared first on Mortgage Strategy.

Webinar- Administrators: a key role in a seamless mortgage process

Salome Asabre — Mon, 12 Oct 2020 11:09:35 +0000

The post Webinar- Administrators: a key role in a seamless mortgage process appeared first on Mortgage Strategy.