First-time buyers can still secure a First Home Finance subsidy, unlock GEHS savings and FNB HomeFirst Grant new and move into a brand-new 2-bedroom home through an Instalment Sale — facilitated by MDW INC Attorneys

For thousands of South African first-time buyers, October 2026 brought hard news.

The national First Home Finance (formerly FLISP) subsidy budget for the 2026/2027 financial year, which runs from 1 March 2026 to the end of February 2027, has been exhausted.

The Western Cape Department of Infrastructure closed its doors to new First Home Finance applications in early October 2026.

The National Housing Finance Corporation (NHFC) first set a cut-off of 5 October 2026 and has since closed their doors on 30 October 2026.

First-time buyers face a wait until the new budget year opens in March 2027 — and no certainty about what that budget will hold.

THERE IS ONE IMPORTANT EXCEPTION

The Western Cape Department of Infrastructure has confirmed that subsidy applications and pay-outs will continue for government-assisted housing projects.

On top of this unique opportunity, the MDW INC team also has access to the recent released FNB FirstHome Grant, to assist first time home buyers to close the affordability gap to secure their own home.

Mountainview in Mossel Bay is exactly such a project: a development of 278 brand-new homes delivered by the Western Cape Department of Infrastructure in collaboration with Mossel Bay Municipality and now the FNB FirstHome Grant:

“While the general subsidy window is closing, Mountainview remains open for business.

If you qualify, you can still receive a First Home Finance subsidy, use your GEHS savings if you are a public servant, and move into your own brand-new home — without waiting for a bond approval first.

On top of this, a first time buyer who qualifies will also be able to claim the FNB FirstHome Grant.

This is a rare opportunity, and we urge first-time buyers not to let it pass.”

Meyer de Waal, Attorney & Conveyancer, MDW INC Attorneys, appointed for the marketing and sales of the Mountainview project.

A HOME, NOT JUST A SUBSIDY

Mountainview offers contemporary double-story 2-bedroom homes of 45m², each with an open-plan kitchen, living area and bathroom, at R429 000.  All transfer costs are included.

The development brings residents closer to the Mossel Bay CBD, with better access to jobs and economic opportunity.

THREE POTS OF GOLD: FIRST HOME FINANCE, GEHS & FNB FIRSTHOME GRANT

• POT 1

  • Qualifying first-time buyers with a gross household income between R3 501 and R22 000 per month may receive a First Home Finance subsidy of between R30 001 and R130 505.
  • At Mountainview, the minimum household income is R12 000 per month to stay in line with the recent interest rate increases.

• POT 2

  • Public servants who do not own a home and are paying rent also accumulate savings under the Government Employees Housing Scheme (GEHS).

Many have built up R100 000, or more, but cannot use it because they do not yet qualify for a home loan.

With an instalment sale transaction, the First Home Finance Subsidy and GEHS savings can be unlocked.

Combined, the subsidy and GEHS savings and act as a powerful double deposit.

• POT 3

  • The FNB FirstHome Grant can also provide assistance from an income range of R22 000 per month with a once off grant of R 15 564.00 up to an income of R12 000 per month, to close the “gap” if the income of the buyer is not sufficient to qualify – (terms and conditons apply)

EVEN MORE SAVINGS ON DATE OF TRANSFER

The FNB FirstHome Grant can be unlocked when the first time home owner takes transfer.

MAKING HOMEOWNERSHIP MORE AFFORDABLE

The combination of a First Home Finance subsidy, GEHS savings and

FNB grant will make home ownership more achievable and affordable,

says Anele Matakane of MDW INC, who assist first time buyers with their subsidy and home loan applications and also FNB FirstHome Grant applications.

THE INSTALMENT SALE ADVANTAGE: OCCUPY NOW, BUY LATER

Since 1 April 2022, the First Home Finance subsidy no longer needs a conventional home loan as its trigger.

It can be unlocked through an Instalment Sale Agreement under the Alienation of Land Act 68 of 1981 — the route MDW INC offers nationally as part of the Rent2Buy programme.

• Move in faster — no prior bond approval is needed to take occupation.
• Subsidy works upfront — once the Instalment Sale Agreement is registered at the Deeds Office, the subsidy and any GEHS savings are released to the seller, reducing the purchase price.
• Lower monthly payments — occupational instalments of between R2 600 and R4 500 per month are calculated on the reduced balance (T&Cs apply).
• Two years to become bond-ready — the My Budget Fitness programme helps buyers settle debt and improve their credit profile, then apply for a home loan and take transfer.
• In the Moutainview project No Transfer or Bons registration fees are payable these are included in the Purchase Price.

WHAT IT MEANS IN RAND TERMS

Consider Mrs A, a government employee earning R15 000 per month:

• She qualifies for a R86 000 First Home Finance subsidy and has R35 000 in GEHS savings.
• Both are deducted from the R429 000 purchase price, leaving a balance of R308 000.
• Her monthly instalment falls from R4 500 to R2 695 — a saving of R1 806 every month while she lives in her own home. (Illustration only, at a prime rate of 10.75%; rates, taxes and services are payable separately, and every applicant receives an individual assessment.)
• If she has a shortfall on her home loan amount – the FNB FirstHome Grant can “kick in” to assist to cover the shortfall.

ACT NOW!

The window is narrow and units are limited.

This is a rare opportunity to claim your First Home Finance subsidy still in 2026 and during the first term in 2027.

First-time buyers who want to secure a subsidy in the current financial year should get pre-qualified without delay:

• Get pre-qualified: co.za/sign-up
• Book a viewing with on-site agent Vusi: co.za/book-a-viewing
• Take a virtual tour: co.za/virtualtour
• Complete the Instalment Sale application: co.za/isa-application

ABOUT THE PROJECT

About Mountainview Mossel Bay: A residential development of 278 brand-new 2-bedroom homes for first-time buyers in the gap market, delivered by the Western Cape Department of Infrastructure with Mossel Bay Municipality. Marketing and sales: MDW INC Attorneys and the My Budget Fitness team.

55 houses have been sold so far and 45 Instalment Sale applications are being processed for early occupation.

www.mountainviewmosselbay.co.za

ABOUT MDW INC ATTORNEYS: A Cape Town law firm founded in 1989 by Meyer de Waal, specialising in property law, conveyancing and affordable housing finance.

MDW INC pioneered the Rent2Buy rent-to-own model in South Africa (irent2buy.co.za).

MDW INC pioneered the Rent2Buy model as well as the Instalment Sale concept combined with FLISP/First Home Finance structures for the NHFC as well as the Western Cape Department of Infrastrcutire in South Africa (irent2buy.co.za).

My Budget Fitness prepares buyers to become bond-ready through budget coaching, credit rehabilitation and affordability assessment.

Media contact: Meyer de Waal, Attorney & Director — meyer@mdwinc.co.za · On-site agent: Vusi (Vuyisile Gxelesha) — Vuyisile@mdwinc.co.za and Anele Matakane anele@mdwinc.co.za

KEY FACTS AT A GLANCE

Media and social posts can use this box as a sidebar.

Item	Detail
Development	Mountainview, Mossel Bay — 278 double-storey 2-bedroom homes, 45m²
Price	R429 000 (Block FB)
Household income	R12 000 – R22 000 gross per month
FNB FirstHome Grant	Between R15 564. – R43 737 for this project
First Home Finance subsidy	R30 001 – R130 505, depending on income
Unlock GEHS savings	Government Employees who rent and do not own a home
Monthly instalment	R2 600 – R4 500 after subsidy and GEHS (T&Cs apply), plus rates and services
Bond needed to move in?	No — Instalment Sale Agreement, 24 months to become bond-ready – only affordability match and credit score  that can be fixed in 12- 16 months
General subsidy window	WC Dept of Infrastructure closed early October 2026; NHFC closes 30 October 2026
Mountainview status	Government-assisted project — applications and pay-outs continue
Get started	Pre-qualify · Book a viewing

 

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