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SOUTH AFRICAN QUALIFICATIONS AUTHORITY 
REGISTERED UNIT STANDARD: 

Demonstrate knowledge and understanding of property concepts associated with mortgage finance 
SAQA US ID UNIT STANDARD TITLE
13403  Demonstrate knowledge and understanding of property concepts associated with mortgage finance 
ORIGINATOR
SGB Banking and Micro Finance 
PRIMARY OR DELEGATED QUALITY ASSURANCE FUNCTIONARY
BANKSETA - Banking Sector Education and Training Authority 
FIELD SUBFIELD
Field 03 - Business, Commerce and Management Studies Finance, Economics and Accounting 
ABET BAND UNIT STANDARD TYPE PRE-2009 NQF LEVEL NQF LEVEL CREDITS
Undefined  Regular  Level 4  NQF Level 04 
REGISTRATION STATUS REGISTRATION START DATE REGISTRATION END DATE SAQA DECISION NUMBER
Reregistered  2018-07-01  2023-06-30  SAQA 06120/18 
LAST DATE FOR ENROLMENT LAST DATE FOR ACHIEVEMENT
2024-06-30   2027-06-30  

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 does not replace any other unit standard and is not replaced by any other unit standard. 

PURPOSE OF THE UNIT STANDARD 
This unit standard is intended for all learners in the field of mortgage finance as provides an introduction to the application of concepts, terms, and legislation relevant to property in the context of mortgage finance.

Persons credited with this unit standard will be able to understand the terms associated with property, the concept of mortgageable property, the range of development schemes and the legal requirements for a valid sale of property. The learners understanding will be sufficient to understand the implication and impact of these terms and legal requirements on what constitutes a legal, valid sale of property and the implications on mortgage finance. 

LEARNING ASSUMED TO BE IN PLACE AND RECOGNITION OF PRIOR LEARNING 
There is open access to this unit standard. Learners should be competent in Communication at level 3. 

UNIT STANDARD RANGE 
N/A 

Specific Outcomes and Assessment Criteria: 

SPECIFIC OUTCOME 1 
Explain general terms associated with property 
OUTCOME RANGE 
Residential, Commercial, Agricultural and Industrial property. Evidence of competence in 2 categories of property is required. 

ASSESSMENT CRITERIA
 

ASSESSMENT CRITERION 1 
1. The meaning of the term movable property is explained, and illustrated with the use of examples, according to its legal definition. 

ASSESSMENT CRITERION 2 
2. The meaning of term immovable property is explained, and illustrated with the use of examples, according to its legal definition. 

ASSESSMENT CRITERION 3 
3. The meaning of the term "unimproved land" is explained, and illustrated with the use of examples, according to its legal definition. 

ASSESSMENT CRITERION 4 
4. The meaning of the term "improved land" is explained, and illustrated with the use of examples, according to its legal definition. 

ASSESSMENT CRITERION 5 
5. The meaning of the term permanent fixtures is explained, and illustrated with the use of examples, according to its legal definition. 

ASSESSMENT CRITERION 6 
6. The implication of the meaning of these terms on what is included, and excluded, in a sale of property is explained with the use of examples from different categories of property. 

SPECIFIC OUTCOME 2 
Understand requirements for mortgageable residential property 
OUTCOME RANGE 
Vacant land, dwellings, cluster houses, Sectional Title, Flats, Town houses. 

ASSESSMENT CRITERIA
 

ASSESSMENT CRITERION 1 
1. The meaning of the term mortgageable is explained, and illustrated with the use of examples, according to its legal definition and general banking policy and practice. 

ASSESSMENT CRITERION 2 
2. The typical characteristics of mortgageable residential property are identified and explained in own words with the use of examples. 

ASSESSMENT CRITERION 3 
3. Residential property not suitable to be mortgaged is identified and the factors making it inappropriate explained in own words with the use of examples in line with general finance/banking policy and practice. 

ASSESSMENT CRITERION 4 
4. The factors relevant to vacant land and building your own home are identified and explained in terms of their suitability for mortgage finance according to banking policy and practice. 

SPECIFIC OUTCOME 3 
Understand key finance elements in property development schemes 

ASSESSMENT CRITERIA
 

ASSESSMENT CRITERION 1 
1. The features and characteristics of a sectional title development scheme are identified and explained according to the Sectional Titles Act of 1986. 

ASSESSMENT CRITERION 2 
2. The features and characteristics of a share block development scheme are identified and explained according to the Share Block control Act 59 of 1980 and the relevant sections of the Companies Act 61 of 1973. 

ASSESSMENT CRITERION 3 
3. The features and characteristics of development schemes for retired persons are identified and explained according to the Housing Development Schemes for Retired Persons Act 65 of 1988. 

ASSESSMENT CRITERION 4 
4. The features and characteristics of a cluster home/group housing development scheme are identified and explained according to the general principles of practice of such schemes. 

ASSESSMENT CRITERION 5 
5. The development schemes are evaluated in terms of their suitability for mortgage according to the legal definition of the term and general finance practice. 

ASSESSMENT CRITERION 6 
6. The basic implications for providing finance for a property under the different schemes are identified and explained according to basic financial policy and practice. 

SPECIFIC OUTCOME 4 
Understand requirements for the legal requirements for sale of property 

ASSESSMENT CRITERIA
 

ASSESSMENT CRITERION 1 
1. The basic process of how a sale of property is concluded is described according to common practice and the basic elements of the Alienation of land Act 68 of 1981. 
ASSESSMENT CRITERION RANGE 
Parties, process, timing. Evidence of competence across the entire range is required.
 

ASSESSMENT CRITERION 2 
2. The legal requirements governing an agreement of sale are identified and explained according to the Alienation of land Act 68 of 1981. 

ASSESSMENT CRITERION 3 
3. The legal requirements governing accepting an agreement of sale (offer to purchase) are understood and explained according to the Alienation of land Act 68 of 1981. 

ASSESSMENT CRITERION 4 
4. The factors agreed and discussed in an agreement of sale are explained according to a typical agreement of sale. 

ASSESSMENT CRITERION 5 
5. The factors that would constitute breach of the agreement are explained in terms of a typical agreement of sale. 

ASSESSMENT CRITERION 6 
6. The nature and impact of suspensive and resolutive conditions on an agreement of sale are explained using examples from a typical agreement of sale. 


UNIT STANDARD ACCREDITATION AND MODERATION OPTIONS 
1 Anyone assessing a learner against this unit standard must be registered as an assessor with the relevant ETQA.
2 Any institution offering learning that will enable achievement of this unit standard or assessing this unit standard must be accredited as a provider with the relevant ETQA.
3 Moderation of assessment will be overseen by the relevant ETQA according to the moderation guidelines in the relevant qualification and the agreed ETQA procedures.

Therefore, anyone wishing to be assessed against this unit standard may apply to be assessed by any assessment agency, assessor or provider institution that is accredited by the relevant ETQA. 

UNIT STANDARD ESSENTIAL EMBEDDED KNOWLEDGE 
In this standard the learner is required to demonstrate knowledge and understanding of the concepts of property relevant to banking policy and procedure in the area of mortgage finance. This covers the range of existing property and property development schemes. The application of this knowledge allows the learner to understand why the banking policy exists and what risks in mortgage finance it is trying to control. The criteria against which this knowledge is evaluated are expressed in the standard. 

UNIT STANDARD DEVELOPMENTAL OUTCOME 
N/A 

UNIT STANDARD LINKAGES 
N/A 


Critical Cross-field Outcomes (CCFO): 

UNIT STANDARD CCFO COLLECTING 
In this standard the learner demonstrates the ability to collect, organise and critically evaluate information when basic implications for providing finance for a property under different schemes are identified and explained according to basic financial policy and practice. 

UNIT STANDARD CCFO CONTRIBUTING 
In this standard the learner demonstrates the ability to understand the relationship between the nature and type of property and its suitability to be mortgaged in terms of the banks` policy. 

UNIT STANDARD ASSESSOR CRITERIA 
N/A 

REREGISTRATION HISTORY 
As per the SAQA Board decision/s at that time, this unit standard was Reregistered in 2012; 2015. 

UNIT STANDARD NOTES 
Additional information:

Legal requirements:

All procedures must meet recognised codes of practice as well as obligations required by current legislation within South Africa and within the normal parameters of the defined job/task. 

QUALIFICATIONS UTILISING THIS UNIT STANDARD: 
  ID QUALIFICATION TITLE PRE-2009 NQF LEVEL NQF LEVEL STATUS END DATE PRIMARY OR DELEGATED QA FUNCTIONARY
Elective  20185   Further Education and Training Certificate: Banking  Level 4  NQF Level 04  Reregistered  2023-06-30  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. Absa Learning & Development 
2. Bidvest Bank 
3. Chartall Business College 
4. Cornerstone Performance Solutions (Pty) Ltd 
5. Felix Risk Training Consultants 
6. Firstrand Bank - Benmore 
7. Nedbank Ltd 
8. The Facilitation Workshop 



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.