This webinar is only available as a recording.
The FLISP programme is a housing subsidy designed to assist qualifying first-time homebuyers. The subsidy is paid directly to the relevant conveyancing attorney or financial institution and can be used as a deposit on a house, or to pay the sum into an existing home loan and reduce the monthly instalments.
The National Minister of Human Settlements, Mmamoloko Kubayi, recently announced that FLISP has been delinked and is no longer merely a mortgage-only option.
This webinar focuses on how conveyancing attorneys and their support staff can assist first-time homebuyers, especially those from lower-income groups, who may be unaware of the subsidies that are available to them and receive little to no assistance in accessing these funds.
It will also show you how you can expand your practice by assisting property developers and buyers with their FLISP subsidy applications. In many instances, you may also assist a buyer to obtain funding to settle your legal fees to speed up your own registration process.
- What is FLISP?
- How does FLISP work?
- What are the qualifying criteria for a FLISP subsidy?
- What are the benefits of a FLISP subsidy? It can be used
- as a deposit; and/or
- to reduce the home loan amount; and/or
- to pay transfer and bond fees.
- What are the requirements for a client to qualify for FLISP?
- When can the client apply?
- When can the client not apply? (Different rules applicable for different regions or provinces.)
- What service does MDW Inc. provide?
- What form does the process take when my firm collaborates with MDW Inc.?
- Will collaboration with MDW Inc. minimise the delays that FLISP applications cause when registering transactions?
- What benefits does this collaboration hold for my firm and what does MDW Inc. get out of the deal?
- Which areas or provinces allow the FLISP subsidy to cover the transfer and bond registration fees as well?
- How can the FLISP assistance that my firm provides improve my relationship with my property developer clients and estate agents?
- What are the recent revisions to the FLISP subsidy policy?
It doesn’t have to. Here’s why:
- Once your client has indicated that he or she wants to apply for the FLISP subsidy and meets the requirements, your firm can hand over the baton to MDW Inc. Attorneys to handle the FLISP application with the National Housing Finance Corporation (NHFC) or the Department of Human Settlements.
- MDW Inc. Attorneys is a private company that assists with FLISP applications lodged at the Department of Human Settlements or the NHFC. This webinar serves as training on what form your firm’s collaboration with MDW Inc. will take and the certificate of attendance you receive indicates to MDW Inc. that you understand how the process works.
- Once it is clear that your client qualifies for FLISP, your firm would be required to pay a fee of R1,500 to MDW Inc. to handle the application or they will guide you for free on how your firm can prepare and submit the application as part of your conveyancing services to your client. (This fee is refundable in the case of an unsuccessful application but Ts & Cs apply.)
- You compile the necessary certified documents for the application (all of which you already have available) as per the checklist and send them to the MDW Inc. FLISP team, who takes the process from there.
- Transfer attorneys
- Bond registration attorneys
- Conveyancing secretaries and paralegals
Conveyancing secretaries are often the first point of contact for clients and the people who guide first-time buyers through the process. The secretary’s role is to bring FLISP to the client’s attention, screen the client for qualification by asking a few simple questions, compile the necessary documents for the application, and put the client in touch with the team from MDW Inc. who will also guide you on how to assist your own client. But they cannot do this without their conveyancer’s buy-in. That is why we encourage both conveyancers and secretaries to attend this webinar.
Every attendee, whether you are a conveyancer or a secretary, will receive a certificate of attendance. As mentioned, this webinar serves as training on what form your firm’s collaboration with MDW Inc. will take and the certificate indicates to MDW Inc. that you know the benefits of FLISP, are able to share these with any clients who qualify, and know which institutions handle FLISP and what assistance services you will be expected to provide.
- This webinar will show you how to stand out in the conveyancing world and stand up for your client – in fact how to improve your customer service.
- We want to help you fulfill your obligation as a conveyancer to alert your clients to funding opportunities like FLISP and add value to the service you render.
- You can change your client’s life by reducing their home loan and helping them to buy their own home for the first time.
FLISP helps to address inequalities in home ownership in South Africa. Do you want to be a part of the movement?