IFS developing commercial mortgage module

A specialist commercial mortgages module is in development at the Institute of Financial Services, with launch expected early 2006.

Although the final syllabus has yet to be confirmed, it is anticipated that this module will address the specialist lending requirements of this sector and the range of products that are now available to this market.

Mark Roberts, head of faculty of financial regulation at the IFS, says: “There has been much growth in the commercial sector in recent months with many lenders developing new products that are more in keeping with those currently available in the private sector.

“This module offers a means of demonstrating specialist knowledge and competence for those already advising in this area; it can also be used to extend knowledge for those who wish to branch into this market.”

Upon successful completion of the module candidates will be able to analyse customer proposition, recommend and apply suitable and affordable mortgage solutions, taking into account any existing arrangements.

They will also be able to use knowledge and understanding of the advice process, the market for commercial mortgages and relation solutions.

Common types of finance; the regulatory and legal framework; and the different types of mortgage solution and the criteria for determining their suitability and affordability, will also be covered.

The new module forms part of the new Advanced CeMAP launched earlier this year.

Candidates will now have a choice of three specialist product modules: Lifetime Mortgages, Alternative Residential Lending and Commercial Mortgages.