FLISP - Government Housing Subsidy Project

[koeksGHT]

I heard this on the local radio station a while ago and have not seen it anywhere in the news?

Anyway it's a cool new programme

What is FLISP?

Finance Linked Individual Subsidy Programme –FLISP


Is the drive by the Department of Human Settlements to provide a subsidy to allow aspiring home owners to purchase a home, supporting your application to a bank for finance to buy your own home.

To qualify for the FLISP subsidy, you must meet certain criteria determined by the Department as well as the banks.

If you earn too little to qualify for mortgage finance to buy your own home, or you earn too much to qualify for the Government’s free basic house under their RDP Housing Subsidy Scheme, you may apply for the FLSIP subsidy.

http://www.flisp.co.za/

Individuals in these salary bands generally find it hard to qualify for housing finance; their income is regarded as low for mortgage finance, but too high to qualify for the government “free-basic-house” subsidy scheme.
The once-off FLISP subsidy amount ranges between R10 000 and R87 000, depending on the applicant’s monthly income.
The maximum price of a property that can be financed through FLISP is R300 000.
FLISP is for residential properties in formal towns where transfer of ownership and registration of mortgage bond is recordable in the Deeds Office.

Full info here

http://www.flisp.co.za/pdf/FLISP_Information_Pamphlet_and_quantum.pdf


Could apply to a number of people here.

Thoughts?

 

[Necuno]

Another handout system?

 

[Freaksta]

Interesting, wonder if you have to live in the house? I would make use of this considering that I just entered the job market. Free money towards a small investment property would be great.

 

[koeksGHT]

Another handout system?

Basically yeah, targeting a different group but yeah.

Means anyone basically earning minimum wage up to 15k pm can apply for housing funding within the requirements.

Not a bad plan for most of the lower working class(sorry you millionaire mybb members)

Crime is not solved with police and prisons but can be reduced with improving the average quality of life for people.

The ANC has sucked this country dry while having the people believe its in their best interests.

Let's see what this becomes

Interesting, wonder if you have to live in the house? I would make use of this considering that I just entered the job market. Free money towards a small investment property would be great.

I doubt they come around and check occupancy but yeah free money if your in requirements(which is easy)