[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"doc-seo-501434-105":3,"detail-sidebar-cat-0-en-105":81,"doc-detail-501434-en":130},{"code":4,"msg":5,"data":6},0,"ok",{"site_id":7,"language":8,"slug":9,"title":10,"keywords":11,"description":12,"schema_data":13,"social_meta":74,"head_meta":76,"extra_data":78,"updated_unix":80},105,"en","fsc-affordable-housing-standards-2023-lending-standards-and-product-definitions","FSC Affordable Housing Standards 2023 - Lending Standards and Product Definitions","","Financial Sector Code (FSC) Affordable Housing Standards define home lending standards for qualifying loans, including an affordable housing target market, a “gap” housing target market, and product definition guidelines. The standards cover both mortgage and non-mortgage-backed lending product categories, outline qualifying loan requirements (including alignment with the National Credit Act), and specify how lending activity is measured using CPI and BCI adjustments, alongside income-based thresholds and key definitions.",{"@graph":14,"@context":73},[15,34,56],{"@type":16,"itemListElement":17},"BreadcrumbList",[18,23,27,31],{"item":19,"name":20,"@type":21,"position":22},"https://docshare.wps.com","Home","ListItem",1,{"item":24,"name":25,"@type":21,"position":26},"https://docshare.wps.com/document/","Document",2,{"item":28,"name":29,"@type":21,"position":30},"https://docshare.wps.com/document/research-report/","Research & Report",3,{"item":32,"name":10,"@type":21,"position":33},"https://docshare.wps.com/document/fsc-affordable-housing-standards-2023-lending-standards-and-product-definitions/501434/",4,{"url":32,"name":10,"@type":35,"image":36,"author":41,"headline":10,"publisher":44,"fileFormat":47,"inLanguage":8,"description":12,"dateModified":48,"datePublished":49,"encodingFormat":47,"isAccessibleForFree":50,"interactionStatistic":51},"DigitalDocument",{"url":37,"@type":38,"width":39,"height":40},"https://docshare.wps.com/thumbnails/fsc-affordable-housing-standards-2023-lending-standards-and-product-definitions/501434.png","ImageObject",300,407,{"name":42,"@type":43},"asda1da","Person",{"url":19,"name":45,"@type":46},"DocShare","Organization","application/pdf","2026-10-22","2026-10-03",true,{"@type":52,"interactionType":53,"userInteractionCount":55},"InteractionCounter",{"@type":54},"ViewAction",7,{"@type":57,"mainEntity":58},"FAQPage",[59,65,69],{"name":60,"@type":61,"acceptedAnswer":62},"What lending standards does the FSC Affordable Housing Standards document define for 2023?","Question",{"text":63,"@type":64},"It defines home lending standards for qualifying loans, including the affordable housing target market, the “gap” housing target market, and product definition guidelines.","Answer",{"name":66,"@type":61,"acceptedAnswer":67},"Which types of lending are included in the affordable and “gap” housing standards?",{"text":68,"@type":64},"The standards include both mortgage and non-mortgage-backed lending for housing purposes, such as mortgages, unsecured personal loans, secured non-mortgage loans, residential development loans, and wholesale loans.",{"name":70,"@type":61,"acceptedAnswer":71},"How does the document measure qualifying lending activity for the target markets?",{"text":72,"@type":64},"It uses an approximate cost definition for affordable bonded entry level housing and adjusts income and cost measures annually using the midpoint of average CPI and BCI, with thresholds for 2023 based on gross monthly household income.","https://schema.org",{"og:url":32,"og:type":75,"og:title":10,"og:site_name":45,"og:description":12},"article",{"robots":77,"canonical":32},"index,follow",{"doc_id":79,"site_id":7},501434,1791261033,{"code":4,"msg":82,"data":83},"success",[84,88,92,96,101,106,110,114,119,122,126],{"id":22,"doc_module":4,"doc_module_name":25,"category_name":85,"show_sort_weight":86,"slug":87},"Story & Novel",90,"story-novel",{"id":26,"doc_module":4,"doc_module_name":25,"category_name":89,"show_sort_weight":90,"slug":91},"Literature",80,"literature",{"id":33,"doc_module":4,"doc_module_name":25,"category_name":93,"show_sort_weight":94,"slug":95},"Exam",70,"exam",{"id":97,"doc_module":4,"doc_module_name":25,"category_name":98,"show_sort_weight":99,"slug":100},5,"Comic",60,"comic",{"id":102,"doc_module":4,"doc_module_name":25,"category_name":103,"show_sort_weight":104,"slug":105},6,"Technology",50,"technology",{"id":55,"doc_module":4,"doc_module_name":25,"category_name":107,"show_sort_weight":108,"slug":109},"Healthcare",40,"healthcare",{"id":111,"doc_module":4,"doc_module_name":25,"category_name":29,"show_sort_weight":112,"slug":113},8,30,"research-report",{"id":115,"doc_module":4,"doc_module_name":25,"category_name":116,"show_sort_weight":117,"slug":118},9,"Religion & Spirituality",20,"religion-spirituality",{"id":117,"doc_module":4,"doc_module_name":25,"category_name":120,"show_sort_weight":117,"slug":121},"World Cup","world-cup",{"id":123,"doc_module":4,"doc_module_name":25,"category_name":124,"show_sort_weight":123,"slug":125},10,"Lifestyle","lifestyle",{"id":127,"doc_module":4,"doc_module_name":25,"category_name":128,"show_sort_weight":97,"slug":129},19,"General","general",{"code":4,"msg":82,"data":131},{"doc_id":79,"user_id":132,"nickname":42,"user_avatar":133,"doc_module":4,"category_id":111,"category_name":29,"doc_title":10,"doc_description":12,"doc_content":134,"file_id":135,"file_url":136,"file_type":137,"file_size":138,"view_count":55,"is_deleted":4,"is_public":22,"is_downloadable":22,"audit_status":22,"page_count":123,"language":139,"language_code":8,"site_id":7,"html_lang":8,"table_of_contents":140,"faqs":141,"seo_title":142,"seo_description":12,"update_tm":143,"read_time":144},3985747861852,"https://ap-avatar.wpscdn.com/davatar_155a257f0dc6eb9ab79c44ca47cae57d","2023  \nFINANCIAL SECTOR CODE (FSC) AFFORDABLE HOUSING STANDARDS  \n1. INTRODUCTION  \nHome lending standards for qualifying loans are defined as set out in this paper. This document therefore seeks to define an:  \n-Affordable housing target market;  \n- “Gap” housing target market;  \n-Product definition guidelines.  \n2. TYPES OF LENDING  \nAffordable housing and “gap” housing constitutes both mortgage and non-mortgage-backed lending for housing purposes and currently includes the following product categories, which may expand in the future.  \n- Mortgages;  \n- Non-mortgages:  \n- Unsecured personal loans;  \n- Secured non-mortgage loan (security provided in support of the loan is not a mortgage/indemnity);  \n- Residential development loans;  \n- Wholesale loans.  \n3. QUALIFYING LOAN STANDARDS  \nLoans for all racial groups qualifying for inclusion must conform to the following standards:  \n- The purpose of the loan should be for housing (as set out under Product Category Definitions);  \n- Loans regulated by the National Credit Act (‘NCA’) should conform to the requirements of said Act;  \n- NCA regulated Loans should be priced in line with the interest rates and fee limits, specific to the various loan types, as stipulated in the NCA.  \n4. MEASUREMENT OF LENDING ACTIVITY  \nThe Affordable Housing target market is defined to be the approximate cost of bonded entry level housing in South Africa, capable of being mortgaged, adjusted annually by the midpoint of the average Consumer Price Index (CPI) and the average Building Cost Index (BCI) . Similarly, nonmortgage loans used for housing purposes (improvements/ additions/ purchases of a fixed nature (excludes white goods, curtaining etc. ) is adjusted by the midpoint of the average Consumer Price Index (CPI) and the average Building Cost Index (BCI) . The average annual CPI figure is obtained from  \npublished reports from SA Statistics and the BCI figure from the Bureau for Economic Research (Stellenbosch University) .  \nFor 2023 the Affordable Housing market as calculated by The Banking Association comprises households earning a gross income of up to R29 600 per month, the “Gap” Housing market as households earning a gross income of between R3 501 to R22 000 per month and the minimum loan size for the non-mortgage market as R1 800 for applicants for households within the Affordable Housing Market (See Note 4 for further details) .  \n5. DEFINITIONS  \nHousehold income  \nMonthly household income is the primary criteria used to determine whether the lending activity may count towards the Affordable/Gap Housing origination and targeted investment targets.  \nIncome is defined in terms of the National Credit Act, 34 of 2005 (“NCA”) as follows:  \n“Household income means the combined gross income of the Applicant/s, which may include the income of any major person who shares their financial means/obligations with the Applicant/s.  \nGross income includes income or any right to receive income but excludes monies which an applicant has a right to receive or holds in trust for another person.”  \nBusiness written within the target market:  \nLoans are deemed to have been written by a financial institution when a mortgage bond has been registered or in the case of non-mortgage loans when these loans are disbursed.  \nThe gross monthly applicant/s income is determined when the loan is approved. For target market upper income qualification purposes, the date of approval of loans, both mortgages and nonmortgages is based on the quantum of the applicant/s gross monthly income as at time of approval of a loan. In compliance with the NCA, loan applicant/s must continue to evidence income qualifications for the loan up to and including date of entering into a loan agreement with a financial institution.  \nProduct category definitions  \nSee table attached.  \n\n|  | Mortgage Loans | Non-mortgage Loans | Residential Development\u003Cbr>Loan Finance | Wholesale Loan Finance / Equity |\n| --- | --- | --- | --- | --- |\n| Produ","cbCaifiM6IpY2iFf","https://ap.wps.com/l/cbCaifiM6IpY2iFf","pdf",373048,"English","# Introduction\n# Types of Lending\n# Qualifying Loan Standards\n# Measurement of Lending Activity\n# Definitions\n## Household income\n## Business written within the target market\n## Product category definitions","[{\"question\":\"What lending standards does the FSC Affordable Housing Standards document define for 2023?\",\"answer\":\"It defines home lending standards for qualifying loans, including the affordable housing target market, the “gap” housing target market, and product definition guidelines.\"},{\"question\":\"Which types of lending are included in the affordable and “gap” housing standards?\",\"answer\":\"The standards include both mortgage and non-mortgage-backed lending for housing purposes, such as mortgages, unsecured personal loans, secured non-mortgage loans, residential development loans, and wholesale loans.\"},{\"question\":\"How does the document measure qualifying lending activity for the target markets?\",\"answer\":\"It uses an approximate cost definition for affordable bonded entry level housing and adjusts income and cost measures annually using the midpoint of average CPI and BCI, with thresholds for 2023 based on gross monthly household income.\"}]","FSC Affordable Housing Standards 2023 - Lending Standards and Product Definitions | PDF",1791019433,25]