SAQA

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SOUTH AFRICAN QUALIFICATIONS AUTHORITY

REGISTERED UNIT STANDARD THAT HAS PASSED THE END DATE:

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	4
REGISTRATION STATUS		REGISTRATION START DATE	REGISTRATION END DATE	SAQA DECISION NUMBER
Passed the End Date - Status was "Reregistered"		2018-07-01	2023-06-30	SAQA 06120/18
LAST DATE FOR ENROLMENT		LAST DATE FOR ACHIEVEMENT
2026-06-30		2029-06-30

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	Passed the End Date - Status was "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.	AAR Trading and Projects (Pty) Ltd
2.	Advanced Assessments and Training (Pty) Ltd
3.	Africa Glory Empowerment Services
4.	Assured Vocational Skills Institute (Pty) Ltd
5.	Brainwave Project 707 Pty Ltd
6.	Brainwave Projects 707
7.	Compuscan Academy
8.	DC Academy
9.	Delmas Development Centre
10.	Fachs Business Consulting and Training
11.	Gigimo Tourism Academy
12.	MAT 007 (PTY) LTD
13.	Matibidi Raphela Investments (Pty) LTD
14.	Octomate Education Pty Ltd
15.	Octopus Training Solutions
16.	Production Management Institute of Southern Africa (Pty) Ltd
17.	RIAPHATHUTSHEDZA
18.	SIGNA ACADEMY (PTY) LTD
19.	Sinovuyolethu Trading (Pty) Ltd
20.	THE SHERQ CENTRE OF EXCELLENCE PTY LTD