Module Code: H8LNS
Long Title Loans
Title Loans
Module Level: LEVEL 8
EQF Level: 6
EHEA Level: First Cycle
Credits: 5
Module Coordinator: JONATHAN BRITTAIN
Module Author: Philip Shanahan
Departments: School of Business
Specifications of the qualifications and experience required of staff  
Learning Outcomes
On successful completion of this module the learner will be able to:
# Learning Outcome Description
LO1 Perform an analysis differentiating between the different forms of personal credit and interest rate options available in the marketplace
LO2 Evaluate a client’s loan needs and apply knowledge of the various credit types and appropriate insurances available in order to determine an appropriate strategy to meet such needs.
LO3 Possess an in-depth knowledge of regulation and legislation that specifically affects the loans market and distinguish the various ways in which property can be owned or possessed by individuals.
LO4 Demonstrate an in-depth understanding of the various tax reliefs that impact on the loans market, and apply this knowledge through application and reasoning through the use of case study.
LO5 Critically assess the various products that are used for the purpose of equity release, including practical examples where the various products might meet client’s needs.
Dependencies
Module Recommendations

This is prior learning (or a practical skill) that is required before enrolment on this module. While the prior learning is expressed as named NCI module(s) it also allows for learning (in another module or modules) which is equivalent to the learning specified in the named module(s).

20840 H8LNS Loans
Co-requisite Modules
No Co-requisite modules listed
Entry requirements  
 

Module Content & Assessment

Indicative Content
Introduction to Loans
• Understanding client loan needs • Overview of consumer credit • The mortgage market • Mortgage and Credit Intermediaries • Providing financial advice • Ownership of property
Housing Loans
• Capital repayment of housing loans, current and historic o Capital and interest o Endowment o Pension backed o Interest only • Interest rate options, variable, fixed, tracker variable • APR • Compound interest • Equity release o Products, Home reversion, Lifetime loan o Why choose equity release o Debt consolidation • Other housing schemes
Housing Loan Insurances
• The reason for insurance • Consumer Credit Act 1995 and insurance • Mortgage protection cover • Serious illness cover • Payment protection insurance • Permanent health insurance • Household insurance • Mortgage indemnity guarantee • Structural defect cover
Taxation
• Tax relief o Principle residence o Private residential investment property o Commercial • Stamp duty • Capital gains tax • Capital acquisitions tax
Regulation of the Loans Market
• Consumer Credit Act, 1995 • Consumer Protection Act, 1997 • Central Bank Reform Act, 2010 • Consumer Protection Code 2012 • The European Communities (Consumer Credit Agreements) Regulations 2010 • Family Home Protection Act, 1976 • Civil Partnership and Certain Rights of Cohabitants Act, 2010 • National Consumer Agency
The Mortgage Process
• Identifying the need and suitability • Consumer Protection Code 2012 • Consumer Credit Act 1995 • Lending criteria • Typical costs • Application o Completing the form o Supporting documentation o Security • Arranging insurance • Loan Underwriting o Underwriting process o Underwriting decisions • Refusal of a loan • Acceptance / Approval o Documentation o Legal aspects • Drawdown o Issuing of cheque o Legal aspects
Managing Mortgage Arrears
• Central Bank Code of Conduct on Mortgage Arrears (CCMA) • MARP, overview and procedure • Consumer Protection Code 2012 • Mortgage Arrears and Personal Debt Group • Home repossessions • Money Advice Budgeting Service (MABS) • Investment property loans • Case study
Other Forms of Consumer Credit
• Lenders and Credit Intermediaries • Other loan products o Personal loan o Credit sale agreement o Hire purchase agreement o Conditional sale agreement • Additional costs on borrower • Insurance o Similarities and differences with policies used for mortgages
The Lending Process (Other Consumer Credit)
• Credit advice and suitability • The application process o Application o Supporting documentation o Security • Insurance • Underwriting o Underwriting process o Approval • Documentation • Credit agreements • Drawdown • Case study
Managing Loan Arrears
• Breach of loan terms and conditions • Options available to lender and borrower
Providing Suitable Advice
• The advice process • Consumer Protection Code requirements • Gathering information • Making suitable recommendations • Creating a Statement of Suitability • Review of financial needs • Case study
Assessment Breakdown%
Coursework40.00%
End of Module Assessment60.00%

Assessments

Full Time

Coursework
Assessment Type: Project % of total: 40
Assessment Date: n/a Outcome addressed: 2,3,4,5
Non-Marked: No
Assessment Description:
The assessment for this module is a lending needs analysis case study Learners will be given a client profile and required to determine the appropriate lending solutions to a client. The assessment will require learners to provide a detailed analysis of the process undertaken and a detailed rationale for the choice of products recommended, together with any limitations, risks and tax implications that apply to these recommendations. Reference to class material, evidence of outside reading and reference to current market data is essential. (L02- L05) A minimum of 2500 and a maximum of 3500 words for the continuous assessment project submission would be a norm.
End of Module Assessment
Assessment Type: Terminal Exam % of total: 60
Assessment Date: End-of-Semester Outcome addressed: 1,2,3,4
Non-Marked: No
Assessment Description:
End-of-Semester Final Examination
No Workplace Assessment
Reassessment Requirement
Repeat failed items
The student must repeat any item failed

NCIRL reserves the right to alter the nature and timings of assessment

 

Module Workload

Module Target Workload Hours 0 Hours
Workload: Full Time
Workload Type Workload Description Hours Frequency Average Weekly Learner Workload
Lecture No Description 2 Every Week 2.00
Tutorial No Description 1 Every Week 1.00
Assignment No Description 3.5 Every Week 3.50
Independent Learning No Description 4 Every Week 4.00
Total Weekly Contact Hours 3.00
Workload: Part Time
Workload Type Workload Description Hours Frequency Average Weekly Learner Workload
Lecture No Description 3 Every Second Week 1.50
Independent Learning No Description 89 Per 15 week block 5.93
Total Weekly Contact Hours 1.50
 

Module Resources

Recommended Book Resources
  • Central Bank of Ireland. (2013), Code of conduct on mortgage arrears and various linked documents, Central Bank of Ireland, Dublin:.
  • Central Bank of Ireland. (2012), Consumer protection code 2012, Central of Ireland, Dublin.
  • Government of Ireland. (1995), Consumer Credit Act, 1995, Ireland, Republic,, Dublin.
Supplementary Book Resources
  • Donnelly, M.. (2011), The law of credit and security, Round Hall Sweet & Maxwell, Dublin.
  • Kumar, P. & Muthukumar, R.. (2008), US subprime mortgage market (C) global credit, Cranfield, Bedfordshire, UK: ECCH..
This module does not have any article/paper resources
Other Resources
Discussion Note: