Blog
May 26

Update | FLISP Subsidy Policy revised

  • The once- off subsidy amount has been increased, It now ranges between R30 000 and R130 504 depending on the applicant’s monthly income.
  • HOME LOAN NO LONGER THE ONLY FINANCIAL ASSISTANCE REQUIRED to apply for FLISP subsidy when purchasing a home.
  • First time buyers can qualify for a FLISP subsidy if they have financial assistance to buy a property in the form of:
  1. the beneficiary’s pension/provident fund loan,
  2. a co-operative or community-based savings scheme, i.e. stokvel,
  3. the Government Employees Housing Scheme,
  4. any other Employer-Assisted Housing Scheme,
  5. an unsecured loan,
  6. an Instalment Sale Agreement or Rent-to-own Agreement.
  7. The FLISP subsidy can now also be used for bond and transfer costs.

About The Author

Thea van Schalkwyk is an independent home loan originator and leads the team at BondExcel Cape. She has been part of the property market in South Africa for more than 30 years. In addition to her 9 years as an estate agent, she has gained 21 years experience as a home loan specialist, both as an originator and as a home loans consultant at Nedbank.