Getting onto the property ladder can be a daunting prospect, especially from a financial perspective, but also when it comes to the bureaucracy that’s part and parcel of the process. For many, home ownership seems impossible, mainly because of their income. However, there’s a subsidy that can help make the dream of home ownership a reality. FLISP is an initiative that aims to bring low- to middle-income earners into the property market, with financial assistance that doesn’t have to be repaid.
WHAT’S FLISP?
FLISP stands for Finance Linked Individual Subsidy Programme. It is a subsidy offered by the Department of Human Settlements. The purpose of FLISP is to provide financial assistance in the form of a subsidy to first-time home buyers. Originally, it was available only to those earning less than R15 000.
WHO IS ELIGIBLE FOR THE SUBSIDY?
Here are some of the qualifying criteria for the FLISP subsidy:
