Finance Linked Individual Subsidy Programme (FLISP)

• The objective of the programme is to reduce the initial mortgage loan amount to render the monthly loan repayment instalments affordable over the loan payment term.

Who is the Finance Linked Individual Subsidy Programme (FLISP) targeted at?

• Households whose income range is R3 501 to R15 000 and are South African citizens.

How will the Finance Linked Individual Subsidy Programme (FLISP) assist a qualifying beneficiary?

FLISP assists qualifying beneficiaries who wish to obtain mortgage finance from a lender to:

• Acquire ownership of an existing residential property.
• Obtain vacant serviced residential stands which are linked to house-building contracts with home builders registered with the National Home Builders Registration Council (NHBRC) or
• Build a new house with the assistance of a homebuilder registered with the National Home Builders Registration Council (NHBRC), on a serviced residential stand, that is already owned by the beneficiary.

What is the subsidy amount that one can qualify for?

• Depending on their income level, a qualifying beneficiary will qualify for a subsidy of between R20 000 to R87 000.

How do I apply for the Finance Linked Individual Subsidy Programme (FLISP)?

• First and foremost you must be in the market looking for a house and should be able to secure a home loan as it is a requirement to access the Finance Linked Individual Subsidy Programme (FLISP) subsidy.
• To apply you may contact or visit the Department of Human Settlements Helpdesk.

The qualification criteria are as follows:

The applicant should: 

• Earn between R3 501 to R15 000.
• Be a South African citizen with a valid Identity Document, or be a permanently resident with a permanent residence permit.
• Not have qualified for a government housing subsidy before.
• Not have owned a fixed residential property before.
• Be competent to contract - over 18 years or legally married or legally divorced and of sound mind.
• Be married or cohabiting.
• Be single with financial dependents.

If the home loan application is declined by the bank then you will not be able to access the Finance Linked Individual Subsidy Programme (FLISP).

To apply for FLISP, you must be in the process of purchasing a property. If you have already purchased a property, it should not be registered on your name for more than 12 months as applications after this window-period are currently not considered.

Where can I find more information?

Department of Human Settlements
27 Wale Street
Cape Town

Call: 021 483 6488 / 021 483 0623 / 021 483 0611 / 021 483 8984
E-mail: Human.Settlements@westerncape.gov.za

Mondays to Fridays from 07:30 - 15:00