• The loan is for first time home owners only.
  • For house construction, the applicant must have a plot of land registered in his or her name and must have clear and clean title.
  • Applicant should be gainfully employed and earning less than SR30, 000.00 per months (proof is required).
  • Applicant must be over 18 years old and should repay the loan before reaching retirement age (63 years).
  • In case of self-employed, proof of income will have to be provided and also the business license.
  • A minimum of 30% to a maximum of 40% of net income would be calculated as the monthly repayment installment.
  • Maximum loan amount is SR850,000 and depends on the  applicant's ability to sustain and repay the loan.
  • Loan up to SR500,000.00 is payable at a rate of 7% and above SR500,000.00 is 8% but variable.
  • Applicant will have to contribute 7.5% towards the loan once approved.
  • The house should be used for residential purpose only.
  • The loan is disbursed by installments upon building inspector certification.
  • The loan is secured by a first line charge on the land where the house is being built.
  • Applicant should be covered for death and permanent disability either by HFC's contingency fund or a mortgage protection policy for the full value and duration of the   
  • Once the house is complete it should be insured for fire and other special perils.
  • Required documents are latest payslip, bank statement with six months transaction, approved house plan, quotation, ID card and proof of income if self-employed.
  • A processing fee of 0.75% of the loan amount is payable by the applicant at the time of interview for the loan.
  • A processing fee of 0.75% of the loan amount is charge at the time of interview.

      Facts about Housing Finance Company

  • 18.    HFC assist only Seychellois citizen with loans.
  • 19.    HFC assist people with loans that have relation to their housing needs and not for other purposes.
  • 20.    All loan applications should be filled at the District Administration office.
  • 21.    HFC does not build houses to allocate to applicant, it only finance house construction, renovation and extension as per the needs of the applicant.
  • 22.    All applicants must be over 18 years old.