MLUH Housing & Land Loan Scheme Seychelles : Ministry of Land Use & Housing

Organization : Ministry of Land Use & Housing
Type of Facility : Housing & Land Loan Scheme
Country: Seychelles

Website : http://www.luh.gov.sc/default.aspx?PageId=7

Housing & Land Loan Schemes :

Full Housing Loan (HL):
Purpose:
To Construct a new house

Related : Ministry of Land Use & Housing MLUH Apply For House Seychelles : www.statusin.org/8595.html

Conditions:
Maximum Loan Amount : SR500, 000/-, depending on sustainability and age of applicant
Maximum payment term: 30 yrs, depending on age
Applicant should be the Sole or Co-Owner of a plot of land
Should not be a pensioner

2Nd Housing Loan Scheme (2nd HLS):
Purpose:
For construction of a Second house (New Construction)

Conditions:
Maximum Loan Amount : SR175, 000/-, depending on sustainability of applicant
Maximum Repayment Term: 30 yrs depending on age
Must have “Permission To Build” from the owner of the property
Maximum Area of House Plan :55 – 60 sqm

House Extensions Scheme (Hse. Ext.):
Purpose:
For the Construction of one extra bedroom Bathroom only

Conditions:
Must have “Permission To Build” from the owner of the property
Maximum Loan Amount : SR75, 000/-
Maximum are of House Plan: SR 20sqm
Maximum payment term: To be determined by HFC
Interest: To be determined by HFC

Home Improvement Loan (HIL):
Purpose:
For Minor Maintenance/ Renovation Works

Conditions:
Maximum Loan Amount : SR50, 000/-, depending on sustainability and age of applicant
Maximum payment term: 5 years (Fix)
Monthly Repayment: SR 1000 – SR1100
One HIL per Household
Should be able to sustain the loan
Control over disbursements

Land Loan:
Purpose:
To purchase land from the Government/Private

Conditions:
Must have “Promise of Sale” from the owner of the property
Maximum Loan Amount : SR150, 000/-, (To Purchase Private Land – The Cost of Land purchased from the Government is generally much lower) depending on sustainability of applicant and value of the property
Determine by the viability of the investment.
Maximum payment term: To be determined by HFC
Interest: 11%

Land And House Loan:
Purpose:
To purchase an existing property

Conditions:
Must have “Promise of Sale” from the owner of the property
Maximum Loan Amount : SR500, 000/-, depending on applicant’s sustainability and value of the property
Determined by viability of the investment
Maximum payment term: 30yrs
For Purchase of Land + House
Interest

Social Housing :
Eligibility :
** The General Public in need of a decent house.

Allocation :
** Based on needs and established by priority rating and recommendation from the Local District Authority.
** Applicant (s) must be a Seychelles citizen of at least 18 years of age.

** Is a first time buyer, that is does not own any other parcel of land or house
** Has not yet benefited from any previous assistance in terms of housing and land from the Government.
** In employment for at least 12 months *

** Has been registered on the ‘Home Savings Scheme’ and is making regular contributions *
** To be assisted before June 2015, the applicant should have been on the ‘Home Savings Scheme’ for at least of 12 months and after June 2015, the applicant will be required to be on the ‘Home Savings Scheme’ for at least 24 months to be eligible for housing assistance *

Contact Information :
Ministry of Land Use and Housing
Independence House
P.O. Box 1097
Victoria, Mahe,
Seychelles
Tel. : 248 284444
Fax. : 248 225540