Earn below R22 000? You may qualify for a housing subsidy of up to R121 626
The “Finance Linked Individual Subsidy Programme” (Flisp) is a housing subsidy for first-time homebuyers who need assistance to afford the purchase.
If your total household income is between R3501 and R22 000 per month you may qualify for a Flisp subsidy if you meet the following criteria:
Must be South African or have permanent residency.
Have never received a housing subsidy from the government.
Have never owned residential property.
You must be older than 18 and able to enter into a legally binding contract.
You must be married or cohabiting.
Flisp subsidies may be used for first-time homebuying only.
It may also be used to buy vacant, serviced land linked to a house-building contract.
The subsidy amount depends on the applicant’s income and varies between R27 960 and R121 626.
Abongile Nzelenzele asked Katharine Liese (Head of Marketing at 1Life) to explain the ins and outs of Flisp.
It can open a lot more opportunities for people to get into the property market and own their homes.Katharine Liese, Head of Marketing - 1Life
There are more costs to buying a home than merely the bond and that’s where this Finance Linked Individual Subsidy Programme really can come into play… moving costs, renovations, rates and taxes, insurance…Katharine Liese, Head of Marketing - 1Life
Listen to the interview in the audio below.
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