select
|

IEASA Western Cape urges agents to help clients submit FLISP applications

The Institute of Estate Agents of SA (IEASA) Western Cape has been actively involved in educating the public and estate agents about the Finance Linked Individual Subsidy Programme (FLISP), a home loan subsidy for those whose gross combined household income was between R3501 to R15 000 at the time of the home loan approval.
 
Time is running out to submit applications and Annette Evans, general manager of the Institute, Western Cape, asks estate agents to notify all of their clients who purchased a property from March 2015 to date, to submit a FLISP application before the end of March 2016. (These retrospective dates apply purely to the Western Cape Province.)
 
The good news is that any subsidy granted via this programme by the Department of Human Settlements exists to encourage home ownership and will never need to be repaid. This is a huge opportunity for agents to offer a value added service to their clients, said Evans.
 
“It is hard to believe with all the pressure on home owners that there is still a ray of sunshine somewhere and it comes in the form of a government FLISP subsidy for first time home buyers and current new home owners,” said Evans.
 
In addition, the Department of Human Settlements will also relax their income requirement by applying the income of the applicant at the time of bond approval and not the income as on date of the FLISP application. Existing home buyers should submit their FLISP applications before the end of March 2016, which is the end of the budget financial year.
 
This initiative can be a huge boost for new home owners – considering the interest rate hikes over the past 12 months.
 
The qualifying criteria are that:
 
·      The current home owner took transfer from March 2015 to date, or whose home loan has already been approved but they have not yet taken transfer;

·      The owner has a gross combined household income between R3,501 and R15,000 at the time of the home loan approval;

·      The approved home loan should be from one of the four major SA banks and SA Home Loans; and

·      They must be a first time home owner and should, if they are single, have dependents. 
 
Applicants must be South African citizens or hold valid permits. Home owners and home buyers can apply directly to the Department of Human Settlements or make use of a paid-for-service, www.flisp.co.za.
 
IEASA hold regular property updates for property professionals – to keep abreast of these, visit www.ieasa.org.za or the regional websites for further information.


  Comment on this Article

  Please login to post comments

Post to my facebook wall
  
2000
Characters remaining


    Latest Property News
    • 19 Jan 2018
      Extending from Randfontein in the west to Roodepoort in the east and including the towns of Krugersdorp and Magaliesburg, the West Rand has a plethora of property available to residents who choose to make this unique area their home.
    • 19 Jan 2018
      When it comes to financial planning, doing the work to ensure you’re prepared for unexpected emergencies is just as important as ticking off your other goals and New Year’s resolutions. The beginning of the year is also the perfect time to review your various insurance policies.
    • 19 Jan 2018
      No surprises at the first Monetary Policy Committee of 2018, as Reserve Bank Governor, Lesetja Kganyago, announced that the interest rates would stay at their current levels.
    • 18 Jan 2018
      The Southern Suburbs make up some of the most popular residential areas in Cape Town, comprising charming groups of suburbs which lie to the south-east of the slopes of Table Mountain. It is seen as the city's most expensive residential neighbourhoods with a choice of various private schools, upmarket eateries, wine estates, beautiful homes and trendy apartments.
    • 18 Jan 2018
      New year, new goals! If you’ve resolved to purchase your first property in 2018, then this 6-step guide from the Rawson Property Group is a must-read. It will help you navigate and simplify what is often be seen as a confusing process of buying your first home – right from the house-hunt to the house-warming.
    • 17 Jan 2018
      While the current property market may still favour buyers, it doesn’t mean that they shouldn’t be well prepared before putting in an offer to purchase.
    • 17 Jan 2018
      Lightstone lists Blair Atholl as the most expensive suburb with an average house price of R11.2 million, followed by Westcliff (R10.5 million), Dunkeld (R9.3 million), Sandhurst (R9.1 million) and Inanda (R7.2 million).
    • 17 Jan 2018
      As it currently stands, there are four main ways in which a home can be bought in South Africa, says Adrian Goslett, Regional Director and CEO of RE/MAX of Southern Africa, who adds that deciding in which legal entity to purchase the property is not a decision that should be entered into lightly, as each has its pros and cons.
        
    X
    Subscribe to the MyProperty Newsletter

    Name  
    Last Name  
    Email Address  
    Email Frequency
    select
    X
    Share this Page

       
    For Sale Property
    Rental Property
    More Options
    About
    Connect with us
    FEEDBACK