You Must Be Buying a Home to Apply for FLISP

03 Mar You Must Be Buying a Home to Apply for FLISP

Posted at 09:10h in Latest News by

If you dream of owning your own home but are restricted by your finances, know that FLISP is available to help you achieve homeownership. As a once-off government grant that is especially designed for the gap market, FLISP (the Finance Linked Individual Subsidy Programme) opens doors that were previously closed to thousands of hardworking South Africans.

With a shared vision towards making homeownership more accessible, FirstStep Housing steps in to guide you through every stage of the FLISP application with confidence. We’ve been helping clients secure government subsidy housing for many years, and are committed to making the process as stress-free as possible.

What to Know Before Applying

It is important to know that you must be buying a home to apply for FLISP. Unlike some government grants that provide financial relief, FLISP is known as a finance-linked subsidy, meaning it is tied directly to your property transaction. Before your grant can be approved, you need to present a signed offer-to-purchase or sales agreement for the home you are in the process of purchasing.

What if you are planning to build a home instead of purchasing a property? In this case, you must already own the serviced residential stand (with a title deed in your name) and will need to present a building contract and approved building plan as part of your FLISP application. Another condition is that the homebuilder be registered with the NHBRC (National Home Builders Registration Council).

Where Does the FLISP Money Get Paid?

We are often asked, “Does the FLISP money get paid into my account?” The answer is no; you will never receive the grant payment directly. This is another reason the property purchase or new build must already be in motion by the time you apply. FirstStep Housing can assist you in securing a FLISP-compliant bond and facilitating your property transfer.

If you are buying a home with a bank loan, the FLISP subsidy is paid to your bank or your bond account. Building a house? The subsidy will then be paid out in stages, when required by either your lender, builder, or conveyancer. If you are using your savings with this government housing grant, then it will be paid to your transferring attorney.

Buying a home in process before applying for FLISP grant

Qualifying Criteria

Is FLISP your pathway to first-time homeownership? For us to assist you, please check if you meet all the qualifying criteria:

  • Earn a monthly household income between R3,500 and R22,000
  • Be a South African citizen or permanent resident
  • Be 18 years or older and legally able to enter into contracts
  • Be married, cohabiting, or single with financial dependants
  • Never have owned residential property before, except for a serviced stand with a Title Deed already in your name.
  • Have not previously received a housing subsidy

What We Need to Assist:

Please be ready to share the following with us, so that we can proceed with your FLISP application successfully:

  • Details and OTP/sales agreement of the property you are purchasing
  • Identity Document for each prospective buyer
  • Three months’ recent payslips for all prospective buyers
  • Birth certificates for all minor dependants within your household
  • Marriage certificate/divorce order and settlement agreement, if applicable

Get excited about becoming a homeowner in South Africa! With FirstStep Housing, you are in excellent hands. APPLY NOW to start the process.