The two organisations have joined forces to create a real estate lifecycle certification which will help to develop professionals’ understanding of the sector.

RICS hopes that this will contribute to their aim to develop international standards and professionalism.

Lloyds already provides staff with in-house training and requires that they complete 40 hours of CPD a year.

This new training programme will include the requirement of reassessment every three years.

Lloyds Bank SME real estate team will be the first group in the country to receive the certification, but it will also be available to other organisations within the real estate market.

Glen Wilson, head of real estate at Lloyds Bank Commercial Banking, said: “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.

“The initiative will reinforce our existing commitment to tackling the UK’s housing shortage, including our £100m Housing Growth Partnership, a joint venture with the government to increase the supply of new homes by investing in SME housebuilders.”

Becky Thomson, UK valuation associate director at RICS, said: “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 – performs in the market.

“By certifying the insight of Lloyds Bank’s specialist teams in RICS and the real estate lifecycle, we aim to create greater market confidence in real estate and drive adoption of RICS standards and professionalism.”