Using FLISP When Buying Property with Family

19 Aug Using FLISP When Buying Property with Family

Posted at 15:15h in Latest News by

Build a stronger foundation for your loved ones by becoming a homeowner in South Africa. Using FLISP when buying property with family can help you to achieve this goal. Choosing your future home does not have to mean counting pennies and struggling for home loan approval. Introduced in 2012 and streamlined in recent years, the FLISP subsidy housing programme aims to help low-and middle-income earners with money to purchase property.

FLISP stands for the Finance Linked Individual Subsidy Program, which was designed with the gap market in mind. It caters to South Africans (or SA citizens) over 18, earning between R3,500 and R22,000 a month as a combined household income. From couples with children to individuals with dependants to take care of, this government initiative is here to change your life for the better. Life is easier when you own your home.

Using FLISP When Buying Property with Family

FLISP Uplifts Families

The truth is that less than 16% of South Africans earn enough to buy a 1.3m property, and the demand for RDP housing continues to increase, according to the GAP Infrastructure Corporation. This makes FLISP (also known as First Home Finance) an important lifeline for households that fall in the middle. If you qualify for this subsidy, the government gives you money towards your home purchase that you don’t need to repay.

Using FLISP when buying property with family is made easier with the help of experienced professionals. At FirstStep Housing, we oversee the time-consuming application process for you – submissions must be 100% accurate. Our team also do all the follow-ups, works with you to find the ideal bond rates, and helps you obtain an offer-to-purchase (OTP) on your chosen home. You can even count on us to help facilitate the property transfer to your name.

Applying for First Home Finance

Make use of FLISP: Your path to first-time homeownership. We’re here to guide you so that you can enjoy the experience fully. Firstly, check to see if you meet the FLISP qualifying criteria. If you do, using FLISP when buying property with family involves some preparation, but each step brings you closer to the first step into your new home.

Please have the following ready for our FirstStep Housing team, so that we can submit your application for FLISP without delay:

  • Details of the home you are aiming to buy
  • Signed OTP/Sales Agreement of this home
  • ID documents of each prospective buyer
  • Three most recent payslips of all prospective buyers
  • Birth certificates for minor dependants within your household
  • Marriage certificate and divorce certificate/settlement, if applicable

APPLY NOW and transform your life and the lives of your family through FLISP. Let our team help you through the entire process, from applying to celebrating the start of your next chapter in life. Claim government subsidy funds for your first home today!