Lloyds Bank and the RICS are teaming up to launch new training for people who work with the real estate sector.
The pair have established a “real estate lifecycle certification” that they say will “develop professionals’ understanding of the sector”, as well as support the nation’s housebuilders, developers and housing associations.
The certification is part of RICS’ commitment to developing international standards and professionalism and to the upskilling of professionals to drive market confidence in the real estate sector.
The Lloyds Bank SME real estate team will be the first group in the country to become certified over the course of 2017, with the RICS training set to enhance more than 120 locally-based Lloyds Bank relationship managers’ understanding of the real estate lending cycle. It will cover everything from deal structuring and income generation to risk management and cash management.
The certification will require individuals to complete training on the RICS approach to the real estate lifecycle and the role of its professionals and standards. Assessment by exam will result in individuals becoming certified, demonstrating a commitment to continuing professional development with reassessment every three years.
The move is designed to enable staff to better support the bank’s clients, including SME housebuilders, commercial developers, property investors and smaller housing associations, with plans to extend the certification to the bank’s 90-strong real estate client services teams.
Glen Wilson, Head of Real Estate, Lloyds Bank Commercial Banking, says: “We are committed to supporting the real estate sector as it works to address the shortfall in the supply of homes and many other important issues. By working with RICS to invest in upskilling our specialist teams across the country, we will be able to provide more informed support to our clients in the sector.”
Becky Thomson, UK Valuation Associate Director, RICS, adds: “The RICS Real Estate Lifecycle Certification provides a thorough training and assessment programme ensuring individuals understand all functions of the real estate market and the role that RICS, our standards and professionals, perform in the market.”Google+