NZQA registered unit standard
28384 version 1
Page 1 of 3
Title
Demonstrate understanding of residential property lending products
and the borrowing needs they meet
Level
5
Credits
5
Purpose
People credited with this unit standard are able to demonstrate
understanding of residential property lending products and the
borrowing needs they meet.
Classification
Financial Services > Financial Services - Professional Practice
Available grade
Achieved
Explanatory notes
1
References
Anti-Money Laundering and Countering Financing of Terrorism Act 2009;
Code of Banking Practice;
Consumer Guarantees Act 1993;
Fair Trading Act 1986;
KiwiSaver Act 2006;
Reserve Bank of New Zealand Act 1989;
Responsible Lending Guidelines. Published by Financial Services Federation,
Wellington, 2011. Available at www.fsf.org.nz;
relevant industry codes of practice;
and all subsequent amendments and replacements.
2
Definitions
New loan context – application, assessment, and approval of new residential property
loans.
Existing loan context – management, reassessment, collections and recoveries of
residential property loans already made.
Interest structures – loan conditions relating to interest calculations such as fixed,
floating, capped, and blended.
Capital structures – loan conditions relating to the calculation of capital repayments
such as table, interest only, revolving, and reducing balance.
3
Range
Assessments requiring application or demonstration of skills and knowledge may be
performed using workplace evidence or evidence derived from simulation or scenario
based activities.
All activities must comply with legislation, regulations, and best practice, including
any guidance notes published by the agency responsible for the relevant enactment
or code.
The Skills Organisation
SSB Code 100401
 New Zealand Qualifications Authority 2016
NZQA registered unit standard
28384 version 1
Page 2 of 3
Outcomes and evidence requirements
Outcome 1
Demonstrate understanding of residential property lending products and the borrowing
needs they meet.
Range
borrowing needs may arise in the context of either new or existing loans.
Evidence requirements
1.1
Explain the features, benefits, risks, and limitations of common variants of
residential property lending products in terms of their suitability in meeting
different borrowing needs.
product variants include but are not limited to – interest structures,
capital structures, part or fully capitalised loans, bridging loans,
reverse equity borrowing;
evidence of six is required, at least two different interest structures
and at least two different capital structures.
Range
1.2
Explain three methods of access to different residential property lending
products in terms of their suitability in meeting different borrowing needs.
1.3
Explain the terms and conditions of KiwiSaver that relate to residential property
lending.
Planned review date
31 December 2017
Status information and last date for assessment for superseded versions
Process
Version Date
Last Date for Assessment
Registration
1
19 February 2015
N/A
Consent and Moderation Requirements (CMR) reference
0003
This CMR can be accessed at http://www.nzqa.govt.nz/framework/search/index.do.
Please note
Providers must be granted consent to assess against standards (accredited) by NZQA,
before they can report credits from assessment against unit standards or deliver courses
of study leading to that assessment.
Industry Training Organisations must be granted consent to assess against standards by
NZQA before they can register credits from assessment against unit standards.
Providers and Industry Training Organisations, which have been granted consent and
which are assessing against unit standards must engage with the moderation system that
applies to those standards.
The Skills Organisation
SSB Code 100401
 New Zealand Qualifications Authority 2016
NZQA registered unit standard
28384 version 1
Page 3 of 3
Requirements for consent to assess and an outline of the moderation system that applies
to this standard are outlined in the Consent and Moderation Requirements (CMR). The
CMR also includes useful information about special requirements for organisations wishing
to develop education and training programmes, such as minimum qualifications for tutors
and assessors, and special resource requirements.
Comments on this unit standard
Please contact The Skills Organisation reviewcomments@skills.org.nz if you wish to
suggest changes to the content of this unit standard.
The Skills Organisation
SSB Code 100401
 New Zealand Qualifications Authority 2016