The Finance Linked Individual Subsidy Programme (FLISP) is a subsidy instrument that assists qualifying households by providing either a once-off down payment (deposit) or to reduce the bond to those households who have secured mortgage finance to acquire a residential property for the first time
Households with gross income that range between R3 501 to R22 000 and are South African citizens or must hold a permanent residence permit.
Depending on their income level, a qualifying beneficiary will qualify for a subsidy of between R27 960 and R121 626 as it applies on a sliding scale.
- You must be in the market looking for a house and should be able to secure a home loan / bond as it is a requirement to access the FLISP subsidy.
- You have already purchased a property which has been transferred into your name with effect from 01 April 2012, 01 April 2014 or 28 July 2018 provided you meet the requirements of the respective policy revisions.
- To apply you must contact or visit the Department of Human Settlements Helpdesk and your Banking institution.
The applicant should:
- Earn between R3 501 to R22 000.
- Be a South African citizen with a valid Identity Document, or be a permanent resident with a permanent residence permit.
- The applicant or his/her spouse must not have previously derived benefits from the housing subsidy scheme or any other state funded or assisted housing subsidy scheme which conferred benefits of ownership, leasehold or deed of grant.
- Not have qualified for a government housing subsidy before.
- Not have owned a fixed residential property before.
- Be competent to contract - over 18 years or legally married or legally divorced and of sound mind.
- Be married or cohabiting. Where the application is made for a subsidy on the basis of a legal marriage or cohabitation arrangement, it is required that the property must be registered in the name of both spouses in the Deeds Office.
- Be single but with financial dependents.
If the home loan application is declined by the bank then you will not be able to access the Finance Linked Individual Subsidy Programme (FLISP)
Yes. If you have already purchased a property which has been transferred into your name with effect from 01 April 2012, 01 April 2014 or 28 July 2018 provided you meet the requirements of the respective policy revisions.
The subsidy is also available to civil servants provided that their total household income including their housing allowance does not exceed R22 000 per month, excluding overtime and commission.