Bear in mind that you no longer require home loan approval before applying for FLISP. You can now use other sources of funding to apply, such as an unsecured loan.
You can then submit your FLISP application, along with the necessary documentation. This process usually takes 7 days.
How long it takes FLISP to pay out will depend on whether you need the subsidy for the deposit or not.
If you need it for the deposit, the subsidy will be paid out within five working days of the deed being lodged at the Deeds Office.
If you don’t need the subsidy for the deposit, it will be paid as soon as the deed is registered.
Note that the subsidy is not paid to you directly, but rather into your home loan account or your attorney’s trust account.