Individual Subsidy Programme (Flisp)
works well to provide homes for firsttime
low-income buyers and meet the
government’s social housing objectives,
but the process to access the
subsidy needs to be made easier.

First National Bank (FNB), which
has grown its affordable housing lending
book by 24 percent year-on-year,
estimated that 57 percent of its retail
customers qualified for Flisp, with the
potential to benefit first-time buyers
to the value of R100 million.

However, only a small fraction of
these customerstook up Flisp aspart of
their home purchase, largely because
the process to make use of the programme
was a challenge.

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