Real Estate Investor Magazine South Africa September 2015 | Page 37

FLISP subsidy to reduce your home loan and pay
off your bond faster. This can save you hundreds of
thousands of Rands over the course of your home
loan by decreasing the time it takes to pay it off.”
One of the major stumbling blocks many
potential FLISP recipients encounter is the need
for a preapproved home loan. The FLISP subsidy
itself can take a very long time to be approved and
as such can impact on the sale of the property as
many developers, sellers and agents simply cannot
afford to wait. Using modern services like My
Bond Fitness (www.mybondfitness.co.za) a buyer
can not only gain a greater understanding of their
credit record, but also obtain their affordability in
minutes. With this knowledge in hand, the buyer
can not only prepare in advance for the FLISP
application but also the level of home loan he
might be eligible for.

WHO IS FLISP TARGETED AT?
• Households whose income range is R3501 and R15 000
per month and are South African
• Those who have never benefitted from a housing
subsidy scheme before
• First time home buyers
• Those with an approved home loan from a financial
institution

RESOURCES
Oosthuizen & Co Meyer de Waal Attorneys,
http://www.flisp.co.za/
www.reimag.co.za

SEPTEMBER 2015 SA Real Estate Investor

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