The short answer
No, to qualify for FLISP you must be a first-time homeowner.
The whole question
Dear Athalie
I want to apply for a home loan to build on my newly purchased stand. I would also like to apply for a FLISP subsidy since this is my first time owning a stand of my own. I also inherited my late father's stand – can I still get the FLISP subsidy?
The long answer
No, you would not be considered for a FLISP building subsidy if you inherited your father’s RDP house, as you not only have to be a first-time homeowner to qualify, but you also cannot have benefited from a government subsidy before. If your father’s house is transferred into your name, you become a homeowner and therefore will not qualify for a FLISP building subsidy.
It may be that you could qualify for a building loan from a bank without a subsidy. To qualify for such a loan, you have to be over 21, have been employed for a minimum of six months, have no defaults on your credit profile and earn above the minimum salary requirement as decided by your chosen bank. Most banks set the minimum salary requirement for a home loan at R22,000.
Wishing you the best,
Athalie
Answered on Aug. 13, 2021, 1:05 p.m.
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