Buying Property with FLISP: Can You Apply Again?

29 Oct Buying Property with FLISP: Can You Apply Again?

Posted at 10:18h in Latest News by

Seeking homeownership with the help of FLISP is an effective way to get the keys to your first house. In the past, South Africa’s middle-income earners (the gap market) struggled to qualify for home loans. At the same time, households in the gap market earned too much to be considered for RDP housing. This meant that, to many families, the idea of owning a home seemed almost impossible. When FLISP was introduced, everything changed.

The Finance Linked Individual Subsidy Programme (FLISP) offers shortfall solutions, bridging the gap to homeownership. If you have never owned a property before, this housing subsidy can be life-changing. When it comes to buying a property with FLISP, can you apply again? The short answer is no, as this is a once-off subsidy that can only be accessed by first-time home-buyers. Here is what you should know.

Benefitting from FLISP

If you have met the FLISP qualifying criteria and your application for this grant was previously approved, you cannot reapply. In fact, you cannot apply for FLISP if you have received any government funding for a home purchase in the past. It is also important to note that owning property disqualifies you from applying for FLISP subsidy housing – this subsidy is meant to uplift families who have not yet owned property.

Could FLISP be your path to first-time homeownership? Other qualifying factors include your combined household salary, which must fall between R3,500 and R22,000. If you’re a South African citizen or permanent resident over the age of 18 and have a partner or dependents, we can help! FirstStep Housing is here to guide you through your FLISP application for the best results. We are excited to play a role in your journey to owning your first home.

Buying Property with FLISP: Can You Apply Again?

FLISP Rejected? Try Again

Have you previously applied for FLISP and been rejected? The good news is that you can reapply. Start by finding out why your first application was declined – we can help you request feedback from the National Housing Finance Corporation (NHFC) or the Department of Human Settlements. Correct the reason why you were not granted the subsidy before reapplying, and work with FirstStep Housing to improve your chances for approval.

You can use FLISP to buy a house with cash, a loan, or a pension. Here is what we will need from you to assist with your application:

  • Offer to Purchase/Sale Agreement
  • Details of the property you intend to buy
  • Each prospective buyer’s identity documents
  • The last three payslips of prospective buyers
  • Birth certificates of minor dependents in your household
  • Marriage certificate, if applicable
  • Divorce order/ settlement, if applicable

Look forward to the exciting prospect of becoming a homeowner in South Africa and improving the lives of you and your loved ones. APPLY NOW and take the first step forward with confidence.