Since 1994, the National Housing Subsidy Programme has afforded housing subsidies to the low income households, however gaining access to this state benefit is a lengthy and difficult process, which can take up to two years to be finalised.
The subsidy is a once off grant provided by the Government to assist people to buy their own homes. Individual subsidies are obtained through the provincial Department of Human Settlements. The Housing Subsidy Scheme has various funding options for those earning R3500 or less per month, as well as an option for those who earn between R3501 and R15000.
In order to qualify for the subsidy, one must:-
a) Be a South African citizen or lawful South African resident; and
b) Have not received a subsidy before; and
c) Have not have owned property before; and
d) Be earning between R 3 500 and R 15 000 per month; and
e) Have dependants, be married or be co-habiting with a partner.
If the above requirements are met, the applicant must begin to collate the necessary documents from the prospective home seller.
McCarthy & Associates Attorneys can assist you to gain from this programme. Our conveyancing team handles the transfer while our subsidy team works hand in hand with the Department of Human Settlements to ease and accelerate the process for you.
If you require any further assistance with accessing housing subsidies or any other please contact us on (033) 266 6170 or email email@example.com.