More than 130 Australian credit advisers are now in the MFAA training program to obtain their MFAA SMSF lending accreditation, as the property investment sector continues to grow.
MFAA CEO Phil Naylor says he is pleased that so many brokers have signed up to the training program because “it represents a great opportunity for ambitious operators to expand their range of expertise and scope of service”.
As a ‘bonus’ to the members who join and complete the program, the MFAA is also offering a free SMSF trust deed and bare trust for the use of the member or their members’ client.
“More than 3,000 SMSFs are being established each month in Australia and, with the proper training, mortgage brokers have the opportunity to deepen their relationships with clients through managing the process of gaining a loan for clients’ SMSFs,” says Naylor.
The association estimates that direct property investment of SMSFs now makes up more than 10% (worth $50 billion) of the 500,000 SMSFs in Australia, however, other estimates have only put the sector at around 6%.
The training program involves a series of modules using a combination of audio and video sessions, assessments and learning checks, case studies, course notes and hand-outs and ending with an optional workshop. Completing the program requires an average commitment of about 20 hours.