SAQA All qualifications and part qualifications registered on the National Qualifications Framework are public property. Thus the only payment that can be made for them is for service and reproduction. It is illegal to sell this material for profit. If the material is reproduced or quoted, the South African Qualifications Authority (SAQA) should be acknowledged as the source.
SOUTH AFRICAN QUALIFICATIONS AUTHORITY 
REGISTERED UNIT STANDARD THAT HAS PASSED THE END DATE: 

Describe housing finance options and demonstrate an understanding of procedures to access housing finance and show how they affect own budget 
SAQA US ID UNIT STANDARD TITLE
114232  Describe housing finance options and demonstrate an understanding of procedures to access housing finance and show how they affect own budget 
ORIGINATOR
SGB Housing 
PRIMARY OR DELEGATED QUALITY ASSURANCE FUNCTIONARY
-  
FIELD SUBFIELD
Field 12 - Physical Planning and Construction Physical Planning, Design and Management 
ABET BAND UNIT STANDARD TYPE PRE-2009 NQF LEVEL NQF LEVEL CREDITS
Undefined  Regular  Level 1  NQF Level 01  8 
REGISTRATION STATUS REGISTRATION START DATE REGISTRATION END DATE SAQA DECISION NUMBER
Passed the End Date -
Status was "Reregistered" 		 2007-05-15  2009-05-13  SAQA 0160/05 
LAST DATE FOR ENROLMENT LAST DATE FOR ACHIEVEMENT
2010-05-13   2013-05-13  

In all of the tables in this document, both the pre-2009 NQF Level and the NQF Level is shown. In the text (purpose statements, qualification rules, etc), any references to NQF Levels are to the pre-2009 levels unless specifically stated otherwise.  

This unit standard is replaced by: 
US ID Unit Standard Title Pre-2009 NQF Level NQF Level Credits Replacement Status
262905  Demonstrate an understanding of the various housing finance options and procedures to access housing finance  Level 1  NQF Level 01  4   

PURPOSE OF THE UNIT STANDARD 
This unit standard is intended for people who want to access housing finance. Anyone who completes this unit standard will be able to make an informed choice regarding his/her most appropriate finance option in relation to budget.

In order to apply this unit standard, it is assumed that learners are able to read and write to a level appropriate for NQF Level 1. 

LEARNING ASSUMED TO BE IN PLACE AND RECOGNITION OF PRIOR LEARNING 
Literacy, communication skills and numeracy at ABET Level 3. 

UNIT STANDARD RANGE 
N/A 

Specific Outcomes and Assessment Criteria: 

SPECIFIC OUTCOME 1 
Discuss and describe different housing finance options and procedures. 
OUTCOME NOTES 
Discuss and describe different housing finance options and procedures in order to make informed housing finance choices. 
OUTCOME RANGE 
Subsidies, short, medium and long-term loans, personal savings. 

ASSESSMENT CRITERIA 

ASSESSMENT CRITERION 1 
1. The range of financial options is listed. 

ASSESSMENT CRITERION 2 
2. The providers of the relevant finance tools are identified. 

ASSESSMENT CRITERION 3 
3. The functions of role players in the supply of housing finance are described. 

SPECIFIC OUTCOME 2 
Explain the purpose of relevant housing subsidies and housing programmes. 
OUTCOME RANGE 
Housing Subsidy Schemes, National housing programmes. 

ASSESSMENT CRITERIA 

ASSESSMENT CRITERION 1 
1. Relevant subsidies and national housing programmes are named and listed. 

ASSESSMENT CRITERION 2 
2. The relevant qualifying criteria for each housing beneficiary are listed and explained. 

ASSESSMENT CRITERION 3 
3. The different subsidy bands are listed. 

ASSESSMENT CRITERION 4 
4. The financial advantages and disadvantages of accessing a subsidy are outlined and discussed. 

SPECIFIC OUTCOME 3 
Explain the purpose of mortgage finance when acquiring a home. 
OUTCOME RANGE 
Banks, micro-lenders, housing institutions. 

ASSESSMENT CRITERIA 

ASSESSMENT CRITERION 1 
1. The definition of a mortgage loan is given. 

ASSESSMENT CRITERION 2 
2. The key features of mortgage finance are listed and applied in context. 

ASSESSMENT CRITERION 3 
3. The advantages and disadvantages of accessing mortgage finance for housing purposes are outlined. 

SPECIFIC OUTCOME 4 
Explain the purpose of non-mortgage finance when acquiring a home. 
OUTCOME RANGE 
pension fund, collateral. 

ASSESSMENT CRITERIA 

ASSESSMENT CRITERION 1 
1. The definition of a non-mortgage loan is given. 

ASSESSMENT CRITERION 2 
2. The key features of non-mortgage finance are listed and applied in context. 

ASSESSMENT CRITERION 3 
3. The advantages and disadvantages of accessing non-mortgage finance for housing purposes are outlined. 

SPECIFIC OUTCOME 5 
Explain the purpose of micro loans in acquiring a home. 
OUTCOME RANGE 
Short term loans, high interest, smaller amounts. 

ASSESSMENT CRITERIA 

ASSESSMENT CRITERION 1 
1. The definition of a micro loan is given. 

ASSESSMENT CRITERION 2 
2. The key features of micro-loans are listed and applied in context. 

ASSESSMENT CRITERION 3 
3. The advantages and disadvantages of accessing a micro- loan for housing purposes are outlined. 

SPECIFIC OUTCOME 6 
Explain the purpose of savings-backed loans when acquiring a home. 
OUTCOME RANGE 
Short term loans, savings record, collateral. 

ASSESSMENT CRITERIA 

ASSESSMENT CRITERION 1 
1. The definition of a savings-backed loan is given. 

ASSESSMENT CRITERION 2 
2. The key features of a savings-backed loan are listed and applied in context. 

ASSESSMENT CRITERION 3 
3. The advantages and disadvantages of accessing a savings-backed loan for housing purposes are outlined. 

SPECIFIC OUTCOME 7 
Compare finance options in order to select and apply to own budget. 
OUTCOME RANGE 
Micro-lenders; banks, personal savings. 

ASSESSMENT CRITERIA 

ASSESSMENT CRITERION 1 
1. The various finance options are evaluated in a personal context. 

ASSESSMENT CRITERION 2 
2. The implications on personal affordability are outlined. 

ASSESSMENT CRITERION 3 
3. The most appropriate option is selected. 

ASSESSMENT CRITERION 4 
4. The motivation for personal choice is described. 

ASSESSMENT CRITERION 5 
5. A framework for a housing budget is drawn up. 

ASSESSMENT CRITERION 6 
6. The implications of the housing finance option on the housing budget are described. 

SPECIFIC OUTCOME 8 
Describe rights and responsibilities of roleplayers in housing finance. 
OUTCOME RANGE 
Banks, housing institutions, micro-lenders. 

ASSESSMENT CRITERIA 

ASSESSMENT CRITERION 1 
1. Rights and responsibilities of providers of finance are described. 

ASSESSMENT CRITERION 2 
2. Rights and responsibilities of receivers of finance are described. 


UNIT STANDARD ACCREDITATION AND MODERATION OPTIONS 
Providers of learning towards this unit standard will need to meet the accreditation requirements of the accredited ETQA.

Moderation Option:

The moderation requirements of the accredited ETQA must be met in order to award credit to learners for this unit standard. 

UNIT STANDARD ESSENTIAL EMBEDDED KNOWLEDGE 
  • Banks, micro-lenders, personal savings, social capital.
  • Interest rates.
  • Repayments of loans.
  • Purchase of building materials. 
    		•

    UNIT STANDARD DEVELOPMENTAL OUTCOME 
    Participate as responsible citizens in the life of local communities: by being aware of environmental and community issues that affect self and other householders. 

    UNIT STANDARD LINKAGES 
    N/A 


    Critical Cross-field Outcomes (CCFO): 

    UNIT STANDARD CCFO IDENTIFYING 
    Identify and solve problems: through engagement in the process of acquiring housing finance. 

    UNIT STANDARD CCFO ORGANISING 
    Organise and manage oneself and one`s activities responsibly and effectively: through organizing relevant documents and contact information in the housing acquisition process. 

    UNIT STANDARD CCFO COLLECTING 
    Collect, analyse, organise and critically evaluate information: through finding out and acting upon information relating to the housing finance acquisition processes. 

    UNIT STANDARD CCFO COMMUNICATING 
    Communicate effectively using mathematical and language skills in the modes of oral and written persuasion: through communicating with other role players in the housing finance acquisition process. 

    UNIT STANDARD ASSESSOR CRITERIA 
  • Given that this standard is at NQF Level 1 and could from part of a learner`s General Education and Training Certificate, some of the assessment evidence must be in a form related to competence in reading and writing at this level.
  • Assessment evidence should be gathered in the real-life application of the outcomes in the housing process where possible (e.g. completed loan documentation). If this is not feasible in terms of the learner`s own involvement, or his/her availability to the assessor over time, simulations, role plays, interviews, portfolios and tests can be used.
  • Translation and interpreting services should be used if these are needed. 
    		•

    UNIT STANDARD NOTES 
    This unit standard has been replaced by unit standard 262905, which is "Demonstrate an understanding of the various housing finance options and procedures to access housing finance", Level 1, 4 credits. 

    QUALIFICATIONS UTILISING THIS UNIT STANDARD: 
      ID QUALIFICATION TITLE PRE-2009 NQF LEVEL NQF LEVEL STATUS END DATE PRIMARY OR DELEGATED QA FUNCTIONARY
    Core  48642   General Education and Training Certificate Housing: Housing Consumer Education  Level 1  NQF Level 01  Passed the End Date -
    Status was "Reregistered"     		 2009-05-13  Was CETA until Last Date for Achievement 
    Elective  20183   National Certificate: Banking  Level 2  NQF Level 02  Passed the End Date -
    Status was "Reregistered"     		 2015-06-30  BANKSETA 


    PROVIDERS CURRENTLY ACCREDITED TO OFFER THIS UNIT STANDARD: 
    This information shows the current accreditations (i.e. those not past their accreditation end dates), and is the most complete record available to SAQA as of today. Some Primary or Delegated Quality Assurance Functionaries have a lag in their recording systems for provider accreditation, in turn leading to a lag in notifying SAQA of all the providers that they have accredited to offer qualifications and unit standards, as well as any extensions to accreditation end dates. The relevant Primary or Delegated Quality Assurance Functionary should be notified if a record appears to be missing from here.
     
    1. Nedbank Ltd 


    All qualifications and part qualifications registered on the National Qualifications Framework are public property. Thus the only payment that can be made for them is for service and reproduction. It is illegal to sell this material for profit. If the material is reproduced or quoted, the South African Qualifications Authority (SAQA) should be acknowledged as the source.