In addition to the above products that HFCL offers, in May 2013 after discussion with World Bank, the Government of Seychelles approved for the introduction of a Housing Finance Subsidy Scheme which aims to target a specific sector of the population to receive financial assistance to own a dwelling.

The subsidy allows applicant (s) to buy or build a residential dwelling to make up the cost of construction or purchase they would have otherwise been able to afford in the absence of the subsidy.

The subsidy is based on the maximum loan amount that the applicant(s) qualifies for at the financial institution and the loan repayment should not exceeds 40% of the net income.

The subsidy is non-repayable, but in cases of foreclosure or sale of property within the first 7 years of the loan agreement, the subsidy shall be fully refunded to the Ministry responsible for Finance.

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