Real Estate Investor Magazine South Africa March 2015 | Page 31

loan account,” says Pugin, who has made an intensive
study of government assistance over the past few years.
She realised homeowners need to be assisted and
informed about their rights to obtain FLISP subsidies.
The research done by Pugin led to hosting workshops
with property developers, estate agents, homebuyers
and homeowners as she realised the dire need amongst
all stakeholders in the property market.
FLISP subsidies are available to pre-qualified
property developments. To obtain such approval,
property developers need to submit their application
in advance to the Department of Human Settlements.
The FLISP subsidy, however, is not limited to
property developments only, as this grant is also
available to the open market for all first-time buyers.
Any type of residential property can be bought inter
alia plot and plan (except vacant land), a new house,
or a property with existing houses on it, as long as
the applicant has been pre-qualified for a home loan
when he or she submits their application for the FLISP
subsidy. “Applicants will have to meet the qualifying
criteria which can be found on our website and will
be advised by us as to which documentation is to be
annexed in support of their application,” says Pugin.
Pugin realised that education about home ownership
will play a vital role in creating sustainable home
ownership.
She has teamed up with Meyer de Waal, who
developed the Rent2Buy concept, as home ownership
education forms a vital part of their educational
module.
With Rent2Buy, aspiring homeowners will first rent
the home they want to buy, should they not meet the
strict requirements of a bank to qualify for a home loan.
During the rental period, they secure the p ɽ