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: 

Demonstrate an understanding of the various housing finance options and procedures to access housing finance 
SAQA US ID UNIT STANDARD TITLE
262905  Demonstrate an understanding of the various housing finance options and procedures to access housing finance 
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 
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 replaces: 
US ID Unit Standard Title Pre-2009 NQF Level NQF Level Credits Replacement Status
114232  Describe housing finance options and demonstrate an understanding of procedures to access housing finance and show how they affect own budget  Level 1  NQF Level 01   

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 own budget and affordability levels.

Learners will be able to:
  • Understand housing finance options available for housing consumers.
  • Understand housing subsidies and programmes.
  • Compare finance options in order to select and apply to own budget.
  • Describe rights and responsibilities of roleplayers in housing finance. 

  • 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 available for housing consumers in the property market. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    A range of housing financial options are identified and listed. 

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

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

    SPECIFIC OUTCOME 2 
    Identify and describe relevant housing subsidies and programmes. 
    OUTCOME RANGE 
    Housing Subsidy Schemes, National housing programmes. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    Relevant subsidies and national housing programmes are named and listed in terms of their purposes for housing provision. 

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

    ASSESSMENT CRITERION 3 
    The different subsidy bands are listed in terms with individual personal income to qualify. 

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

    SPECIFIC OUTCOME 3 
    Identify and explain the various types of housing finance for acquiring a home. 
    OUTCOME RANGE 
    Finance includes banks, micro-lenders, housing institutions. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    Various housing finances are identified and described in terms of their features, advantages and disadvantages. 
    ASSESSMENT CRITERION RANGE 
    Various housing finance include but are not limited to mortgage finance, non-mortgage finance (pension fund, collateral), mortgaged loans, non-mortgaged loans, micro-loans (Short term loans, high interest, smaller amounts) and savings-backed loans (Short term loans, savings record, collateral).
     

    ASSESSMENT CRITERION 2 
    Possible risks and opportunities associated with housing finance option are identified and described in the context of fluctuations in the market economy. 

    ASSESSMENT CRITERION 3 
    Various options available for housing finance or refinancing are identified and described in terms of their benefits and limitations. 

    ASSESSMENT CRITERION 4 
    The process of applying for a homeloan or housing subsidy is explained with examples. 

    ASSESSMENT CRITERION 5 
    Bond repayment is worked out using a calculator in a given scenario. 

    SPECIFIC OUTCOME 4 
    Compare finance options in order to select and apply to own budget. 

    ASSESSMENT CRITERIA
     

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

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

    ASSESSMENT CRITERION 3 
    The most appropriate option is weighed and selected to meet own needs and affordability. 

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

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

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

    SPECIFIC OUTCOME 5 
    Describe rights and responsibilities of roleplayers in housing finance. 
    OUTCOME RANGE 
    Role-palyers in housing finance include but are not limited to banks, housing institutions, micro-lenders, employers. 

    ASSESSMENT CRITERIA
     

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

    ASSESSMENT CRITERION 2 
    Rights and responsibilities of receivers of finance are described in relation to contractual obligations. 


    UNIT STANDARD ACCREDITATION AND MODERATION OPTIONS 
  • An assessor, accredited with a relevant NQF Level 4 or higher qualification, will assess the learner's competency. Only an Assessor with suitable first hand experience in process operations will assess the learner's competency.
  • Anyone assessing a learner or moderating the assessment of a learner against the qualification must be registered as an assessor with the relevant Education, Training, Quality, Assurance (ETQA) Body, or with an ETQA that has a Memorandum of Understanding with the relevant ETQA.
  • Any institution offering learning that will enable the achievement of this qualification must be accredited as a provider with the relevant Education, Training, Quality, Assurance (ETQA) Body, or with an ETQA that has a Memorandum of Understanding with the relevant ETQA.
  • Assessment and moderation of assessment will be overseen by the relevant Education, Training, Quality, Assurance (ETQA) Body, or by an ETQA that has a Memorandum of Understanding with the relevant ETQA, according to the ETQA's policies and guidelines for assessment and moderation.
  • Moderation must include both internal and external moderation of assessments, unless ETQA policies specify otherwise. Moderation should also encompass achievement of the competence described in the associated unit standards.
  • Anyone wishing to be assessed against this qualification may apply to be assessed by any assessment agency, assessor or provider institution that is accredited by the relevant ETQA.
  • Rights and responsibilities of receivers of finance are described in relation to contractual obligations. The steps involved in process of township establishment are identified and described with examples. 

  • 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 
    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 
    This unit standard replaces unit standard 114232, "Describe housing finance options and demonstrate an understanding of procedures to access housing finance and show how they affect own budget", Level 1, 8 credits. 

    QUALIFICATIONS UTILISING THIS UNIT STANDARD: 
      ID QUALIFICATION TITLE PRE-2009 NQF LEVEL NQF LEVEL STATUS END DATE PRIMARY OR DELEGATED QA FUNCTIONARY
    Core  65969   General Education and Training Certificate: Human Settlements Development  Level 1  NQF Level 01  Reregistered  2023-06-30  CETA 


    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.
     
    NONE 



    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.