Carol Dundas
A new programme to educate potential first-time homeowners with a practical understanding of homeownership and finance is to be launched in Gauteng, KwaZulu-Natal and Mpumalanga next week.
This is an initiative of the Home Loan Guarantee Company (HLGC) to assist low income earners who are either in the process of acquiring a home or plan to do so in the near future. HLGC is a Section 21 company that has been providing housing finance since 1990.
There is a growing conviction in the market for lower-income housing that people need to know and understand what is involved before making a decision with regard to their housing needs.
HLGC chief executive Dr Charlene Lea says: “While HLGC has been providing housing finance education to the lower income market it has always been at the time that a loan is accessed That is too late. People need to understand the financial consequences of their decisions before committing themselves to housing options. The HLGC is now providing education to people before they make that critical decision.”
The course seeks to promote awareness of finance issues, tenure options, affordability and budgeting, rates and service charges, and the rights and responsibilities of all parties.
Lawrence Ramashamole, general manager of training and education, says: “The secret to successful borrowing and lending is knowledge and understanding.”
HLGC provides courses in home-ownership, borrower and tenant education. The trainer development programme develops training skills to enable individuals who are not ordinarily educationalists to effectively communicate housing finance to potential home buyers or beneficiaries.
The tenant education programme provides information to occupants preferring rental or rent-to-buy tenure. It covers issues related to understanding housing association rules, tenants’ rights and obligations, instalments, levies, budgeting and affordability.
The sectional title residents’ programme, on the other hand, equips homeowners with an understanding of the legal and practical aspects of sectional title ownership and lifestyle. It also encompasses sectional title processes and scheme management.
Education programmes are designed to accommodate all levels of literacy and all languages.
For more information contact the Housing Consumer Education call centre at 0860 88 66 88