Posted by: home seeker | 2013/02/15

Finance Linked Individual Subsidy

Since Player has mentioned about the government subsidy, I am concerned about the government only subsidising people earni ng below R8 000, what about people earning from R8 000 to R12 000?

With the bonds being so high I cant afford a bond and I think the government should build houses that will be affordable to us.

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Our users say:
Posted by: Amasi | 2013/02/18

You see google helps.
I am having an outdated information I got when having drinks few years back when the maximum income was R8000pm

Thanks for the google and sharing that helps a lot.


Reply to Amasi
Posted by: home seeker | 2013/02/18

Thank you Amasi, i decided to google and this is what i found on the website:

• Income eligibility: households earning between R3501 –  R15 000 per month are eligible to apply.
• Property value: the FLISP subsidy can only be used to buy a house costing R300 000 or less.
• Value of the subsidy: the subsidy amount available is inverse to the households’  income and ranges from R87 000 for a household earning R3501 to R10 000 for a household earning R15 000 per month.
• Conditions: households can only access the subsidy if they tie it together with a mortgage to buy a new house in an approved project for less than R300 000. In the previous FLISP design, households were required to provide a deposit –  this has been waived. The FLISP can be used to meet any deposit requirement for a mortgage loan.
• Exception: households earning between R3501-R7000 who are unable to obtain mortgage finance may decide to apply for a serviced stand. This will be made available to them for free, as their once off subsidy, as part of the Integrated Residential Development Programme.

Reply to home seeker
Posted by: Amasi | 2013/02/17

That has been an argument in I had always had as good starting houses start at R300k which requires R12000 pm (remember, bond is approx salary divide by four times thousand).

The person quoted by JZ last year is earning R15000pm and can not qualify for a house. Even in old location (granny''s 4-room house in township in the location) houses can be found above R200k.

There is a question of what should be amount to be sponsored but I dont think pravin will want to stand surity to all those amounts


Reply to Amasi

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