FNB continues to improve access to affordable housing for low- to middle-income South Africans, amid rising property prices and economic challenges. The bank approved R3.3 billion in affordable housing home loans over the last 12 months, putting close to 6 000 families earning less than R34, 000 into homes. Moreover, the bank supported customers with an integrated Financial Linked Individual Subsidy Programme (FLISP) process, helping customers with R72m in government subsidies. These were advances made to customers earning between R3,501 and R22,000 per month, by advancing nearly R900 million in home loans between July 2024 and June 2025, helping more South Africans achieve home ownership.

The bank’s affordable housing portfolio now stands at R23.2 billion as of June 2025, reflecting its dedication to supporting households earning up to R34 400 household income per month. Through innovative solutions and strategic partnerships, FNB is addressing the housing gap and enabling more South Africans to achieve homeownership. Over the past decade (2015–2025), FNB has paid out a total of R33 billion in affordable housing loans, helping approximately 117 000 households achieve homeownership.

“In a country facing serious socio-economic challenges, and a shortage of affordable housing, it’s humbling to know that our innovative solutions are helping thousands of families, find dignity, pride and shelter” says Lytania Johnson, CEO of FNB Personal Segment.

Owning a home is the foundation of better living standards and financial security. It creates generational wealth and remains the single biggest investment many families will make. Even with the rising cost of living, we know that our customers are determined to achieve lifelong goals such as home-ownership, a milestone that helps build a lasting family legacy.

As a financial services provider that responds to the evolving needs of our customers who earn below R750k per annum, we recognise our responsibility to support them along their journeys. We are focused on purpose-led lending and meaningful value-adds like essential rewards with fuel and groceries, to alleviate the burden of rising household costs,” she adds.

FNB’s interventions include:

• Helping customers with an integrated FLISP process, supporting R72 million in government subsidies over the last year. FNB is the leading bank in FLISP funding allocations.
• Integration of government subsidies such as First Home Finance (commonly known as FLISP) to reduce upfront costs and improve affordability
• Collective Buying Home Loan: FNB’s pioneering product allowing up to 12 individuals to co-purchase property and share repayments

“The foundation of getting more people into homes remains inclusive and drives higher economic growth,” adds Chris Labuschagne, CEO of FNB Home and Secured Lending. “We are committed to creating accessible pathways to homeownership and helping South Africans build generational wealth through property.”

FNB’s data shows that most of its customers who earn less than R22 000k per month meet the criteria to be considered for First Home Finance (FLISP). “That’s why our processes integrate support to help these customers access government subsidies such as FLISP. Our Collective Buying solution has also been crucial in helping to level the playing field for this group and improve their affordability. We are also assisting more customers with integrated advice to help them unlock cashflow in transactional banking, credit, insurance, investment, and leveraging our rewards,” he adds.

FNB’s affordable housing strategy is a cornerstone of its financial inclusion agenda, ensuring that more South Africans have access to safe, secure, and sustainable housing solutions, regardless of their income levels.

Urbanisation is expected to continue driving housing demand and contribute to price inflation in the market. To help address these challenges, FNB deliberately collaborates with property developers, city councils and fintech’s to create sustainable housing solutions that will improve affordability and accessibility.

The South African affordable housing market faces significant challenges that require close collaboration between the public and private sectors to address supply and reduce transactional costs. The foundation of getting more people into homes remains inclusive and a driver of higher economic growth.

“Our contribution to affordable housing reflects our promise to help our customers become homeowners. By making homeownership a reality for more South Africans, we are empowering communities, fostering economic growth, and promoting social stability,” concludes Labuschagne.