The Finance Linked Individual Subsidy Programme (FLISP) was introduced by the South African government to assist low-income first-time home buyers to get into the property market.

Who qualifies for FLISP?

• SA citizen with permanent residency in South Africa
• Over 18 years old
• Income must range between R3501 and R22 000 per month
• Married or cohabiting or single with financial dependents
• First time homebuyer

How much will I qualify for?

Your subsidy depends on where your income falls within that bracket. The lower your income, the higher your subsidy, with the highest possible subsidy being R130 000 and the lowest being R30 001.

That’s a sizeable amount that you can put towards your home loan repayments. For a more detailed breakdown of the subsidies, request a copy of our FLISP brochure.

How do I apply for FLISP?

If you meet all the above requirements, you can apply for FLISP. However, you will need a home loan offer from a bank before you can apply.

What will I need to apply?

• Copy of ID(s)
• Copies of dependents’ birth certificates
• Marriage certificate/ Final order of divorce
• Payslip or affidavit confirming unemployment or proof of social grant
• Offer to Purchase (OTP)
• Certified copy of the bond approval / bond quotation
• Original/ certified copy of the statement of transfer cost from transferring attorney

The application process usually takes 7 days.

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Apply for your home loan through Phoenix Bonds – we will simultaneously submit your application to up to 10 banks to improve your chances of success. We can also negotiate on your behalf to ensure you get the best possible interest rate.

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