FAQs

MHC - Faq

Get support immediately! For answers to any queries you might have, please refer to our Frequently Asked Questions page.

Salaried or self-employed individuals and Mauritians staying abroad subject to the fulfilment of MHC conditions/ requirements.

  • Proof of identity¬†
    • Birth certificate, national identity card and marriage certificate for borrower and spouse and/or co-applicants/usufruct owners/guarantors and those holding a right in the property and power of attorney for those residing abroad and divorce certificate (wherever applicable) ¬†
  • Proof of income¬†
    • Salaried clients should produce their:¬†
      1. last salary slips, and 
      2. Bank statements 
    • For both (1) and (2) we will need the documents for the 6 months preceding the loan application.
    • Self-employed clients should produce their bank statements (12 months) and evidence of business practice.
  • Other documents¬†
    • title deed of property
    • memo of survey & site plan
    • location plan
    • development and building permits
    • 2 copies of the plan of the house to be constructed
    • proof of employment
    • your last PEL receipt¬†
       

Yes. In case you do not already own a plot of land and have acquired undivided rights on a land as well as a ‚Äėdroit de sur√©l√©vation‚Äô of an existing building, then MHC Ltd can offer you a loan for the construction of a house/apartment on the upper slab of the existing building, provided all parties give their consent to borrow.

The amount you can borrow will depend on how much you can repay. We consider the following in our assessment of your request and repayment capacity: 

  • income
  • age
  • co-applicant‚Äôs income
  • repayment term
  • existing loan commitments

The loan ceiling varies from client to client. It depends on how much you earn and your existing loan commitments. Generally speaking, you can borrow up to 95%* of the project cost.
* conditions apply

Please use our online calculator

Yes you can, provided the monthly repayment of the existing loan and the new deduction do not exceed 40% of total household income.

Fees and Charges

Yes, MHC Ltd offers you attractive insurance premiums. In case of total and permanent disability or death of the person assured during the repayment period, then the loan balance due to MHC Ltd will be paid through this assurance cover. 

Yes. You need to make sure that the property is duly and properly insured during the period of the loan against hazards like fire, cyclone and allied perils or any other such risks as MHC Ltd considers necessary.

  • The property itself, bought or to-be-bought, is mortgaged to the lending institution, or a fixed charge inscribed on the land till the loan is repaid.¬†
  • In case you own a government-leased land, you will need to seek approval from the Ministry of Housing in order to mortgage your house and to pledge rights on the state land leased to you.¬†
  • In case of ‚Äúdroit de sur√©l√©vation‚ÄĚ, you will need to temporarily mortgage the whole property until the ‚ÄúR√®glement de Copropri√©t√©‚ÄĚ is finalised.¬†

Yes. Two or more persons may jointly buy a plot of land and construct a flat (with 2 or more apartments).

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