Mpho Rankoe bought her first house through the government’s Finance Linked Individual Subsidy Programme.
In November 2016, after a year unsuccessfully searching for a home she could afford, Mpho Rankoe bought her first house through the government’s Finance Linked Individual Subsidy Programme (Flisp).
The property – a three-bedroom house with kitchen, dining room, bathroom and garage on 744m2 of land – is in Venterspost, Westonaria, in the West Rand District Municipality in Gauteng.
It cost R245 000.
Rankoe says the Flisp process was “very easy” – all she had to do was provide the necessary documentation.
“I applied for financing through Flisp on October 15 2016, and my house was lodged for registration. Flisp approved my application on November 7 and paid the money into my bond account on November 25,” she says.
The house was registered in Rankoe’s name on November 11, and she moved in the same day. Thanks to the Flisp payment, her monthly bond repayment was reduced.
“I was so excited to provide a shelter for my children. It was the greatest achievement,” she said.
Although Rankoe loves her home, she says the drive to her place of employment in Joburg is “strenuous”. She hopes one day to buy a house closer to her workplace, possibly in somewhere like Naturena or Roodekop.