Ricochet News

FLISP Awareness Campaign kicks off in George

May 11, 2018
FLISP Awareness Campaign kicks off in George

George Municipality, in conjunction with Western Cape Department Human Settlements, hosted a Finance Linked Individual Subsidy Programme (FLISP) workshop on Wednesday, at Pacaltsdorp Community Hall. 

"It was an exceptionally well-attended event and we are delighted that our community came out in droves to hear how the FLISP programme could assist and enable them to purchase their own homes and become first time homeowners," said Chantel Edwards-Klose, George Municipality Manager: Communications. 

"Our plan is to host a FLISP meeting at least once a month throughout the various suburbs of George in order to inform our community on how to commence the process of procuring their first residential property."

She said that the FLISP is an instrument that assists qualifying households by providing a once-off subsidy to households who have secured a bond to acquire a residential property for the first time. 

FLISP will assist qualifying beneficiaries to:

  • Acquire ownership of an existing residential property,
  • Obtain vacant serviced residential stands linked to house building contracts with builders registered with the NHBRC, and
  • Build a new house with the assistance of a home builder registered with the NHBRC on a serviced stand that is already owned by the beneficiary.

"FLISP is targeted at households whose gross income range is R3 501 to R15 000 and are South African citizens," said Edwards-Klose.

"Depending on the household’s income, a qualifying beneficiary will qualify for a subsidy of between R20 000 to R87 000. 

"The objective of the FLISP programme is to reduce the initial bond amount to render the monthly repayment instalments affordable over the loan repayment term."

She added that if the home loan application is declined by the bank, beneficiaries will not be able to access the FLISP subsidy.

For further information on the various Subsidy Programmes available to residents of George Municipality, please contact Wendy Mentor on 044-802 2026 or via email wmentor@george.gov.za.

For information on the next workshops or if you, as a business, wish to host a FLISP workshop to your employees, please contact Dominique Otgaar on 044-801 9216 or via email dotgaar@george.gov.za.