The Western Cape Government is expanding its efforts to help vulnerable homeowners protect their properties through a new partnership with Nedbank.
The initiative has identified 278 Nedbank households experiencing financial difficulties, with 48 applications already approved to the value of R6,459,895.64.
The broader programme is expected to benefit 158 bondholders and facilitate the release of original title deeds, with a combined value of R17,322,189.71.
The partnership builds on the Western Cape Department of Infrastructure’s successful collaboration with First National Bank (FNB), which has already resulted in 212 bonds being cancelled and original title deeds being issued to qualifying clients.
Western Cape Minister of Infrastructure Tertius Simmers said the initiative demonstrates how government and the private sector can work together to provide practical solutions for homeowners facing financial distress.
“In my 2026/27 Budget Speech, I issued a clear call to financial institutions to work with us on practical solutions for homeowners experiencing financial distress. Nedbank answered that call,” said Simmers.
He said government was making its existing housing subsidy mechanisms available while financial institutions identify customers who may qualify for assistance.
“Together, we are creating a pathway towards unencumbered homeownership,” Simmers said.
The programme uses two existing provincial housing subsidy mechanisms: the Individual Housing Subsidy Programme and First Home Finance, formerly known as FLISP.
Nedbank screens customers against the prescribed subsidy criteria. Where applicants qualify, approved subsidies are applied directly to outstanding mortgage balances, helping households settle their bonds and secure unencumbered ownership of their homes.
Nozizwe Tshabuse, Managing Executive of Operations, Collections and Recoveries at Nedbank, said homeownership represents much more than having a place to live.
“For many families, owning a home is about far more than having a roof over their heads. It is about dignity, security and having something of their own to pass on to the next generation,” she said.
Tshabuse said the partnership reflects Nedbank’s commitment to supporting customers when financial difficulties threaten their homes.
She added that helping qualifying homeowners secure unencumbered ownership could protect valuable assets and create a foundation for generational wealth.
Simmers said the involvement of a second major bank shows that the model has the potential to be expanded across the province.
“A housing policy cannot simply end when someone receives the keys to a front door. We must use every lawful mechanism available to protect the dignity and security that comes with homeownership,” he said.
“Government cannot solve the housing challenge alone, but by leading these partnerships, we are intervening where it matters most.”
Assistance is available to qualifying South African citizens in the Western Cape whose mortgaged property is their first and only home. Applicants must also meet household income requirements and undergo the required departmental assessment processes.
The Western Cape Government has called on other financial institutions to join the initiative, with the aim of helping more families clear their home loans, obtain their original title deeds and secure long-term homeownership.
The initiative has identified 278 Nedbank households experiencing financial difficulties, with 48 applications already approved to the value of R6,459,895.64.
The broader programme is expected to benefit 158 bondholders and facilitate the release of original title deeds, with a combined value of R17,322,189.71.
The partnership builds on the Western Cape Department of Infrastructure’s successful collaboration with First National Bank (FNB), which has already resulted in 212 bonds being cancelled and original title deeds being issued to qualifying clients.
Western Cape Minister of Infrastructure Tertius Simmers said the initiative demonstrates how government and the private sector can work together to provide practical solutions for homeowners facing financial distress.
“In my 2026/27 Budget Speech, I issued a clear call to financial institutions to work with us on practical solutions for homeowners experiencing financial distress. Nedbank answered that call,” said Simmers.
He said government was making its existing housing subsidy mechanisms available while financial institutions identify customers who may qualify for assistance.
“Together, we are creating a pathway towards unencumbered homeownership,” Simmers said.
The programme uses two existing provincial housing subsidy mechanisms: the Individual Housing Subsidy Programme and First Home Finance, formerly known as FLISP.
Nedbank screens customers against the prescribed subsidy criteria. Where applicants qualify, approved subsidies are applied directly to outstanding mortgage balances, helping households settle their bonds and secure unencumbered ownership of their homes.
Nozizwe Tshabuse, Managing Executive of Operations, Collections and Recoveries at Nedbank, said homeownership represents much more than having a place to live.
“For many families, owning a home is about far more than having a roof over their heads. It is about dignity, security and having something of their own to pass on to the next generation,” she said.
Tshabuse said the partnership reflects Nedbank’s commitment to supporting customers when financial difficulties threaten their homes.
She added that helping qualifying homeowners secure unencumbered ownership could protect valuable assets and create a foundation for generational wealth.
Simmers said the involvement of a second major bank shows that the model has the potential to be expanded across the province.
“A housing policy cannot simply end when someone receives the keys to a front door. We must use every lawful mechanism available to protect the dignity and security that comes with homeownership,” he said.
“Government cannot solve the housing challenge alone, but by leading these partnerships, we are intervening where it matters most.”
Assistance is available to qualifying South African citizens in the Western Cape whose mortgaged property is their first and only home. Applicants must also meet household income requirements and undergo the required departmental assessment processes.
The Western Cape Government has called on other financial institutions to join the initiative, with the aim of helping more families clear their home loans, obtain their original title deeds and secure long-term homeownership.
