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Subsidy for new home owners

4 February 2016

Subsidy for new home owners – Claim now as funds are available in the Western Cape

The Finance Linked Individual Subsidy Programme (Flisp) has just received good news from DOH in the Western Cape – they were asked to submit as many as possible Flisp applications by the end of March as they have un-allocated funds available for existing home owners and buyers with approved home loans.

The DOH will also relax their income requirement by applying the income of the applicant at the time of bond approval and not the income as on date of the Flisp application.

This initiative can be a huge boost for new home owners – considering the interest rate hikes over the past 12 months.

Existing qualifying home owners who took transfer from February 2015 – to date may apply. The qualifying criteria are:

  • Current home owner who took transfer as from February 2015 – up to date, or whose home loans have already been approved but not yet taken transfer
  • Earn between R3501 – R15 000 at the time of the home loan approval – gross combined household income
  • Approved home loan – from one of the 4 x big banks and SA Home Loans
  • Must:
    o be a first time home owner
    o have dependents – if single
  • South African citizen or holder of a valid permit

Flisp can assist such home owners with their applications – and they can register through their website www.flisp.co.za

For more information on Flisp subsidies – see Flisp Assistance

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