# Buying to let: how MFLC weighs rental income

> Unlike some banks, MFLC asks how much rent the property will earn and wants rent forecasts. Its smaller Direct Loan is open to landlords living on rental income. What that means for buyers planning to let.

Source: Maldives Real Estate News, published by Binga Properties. URL: https://news.binga.mv/mflc-buying-to-let-rental-income
Published: 2026-10-18T07:32:59.258Z · Updated: 2026-10-18T07:32:59.258Z · Event date: 2026-10-18

Many buyers of new flats in Greater Malé plan to let them. How a lender treats the future rent matters. Bank of Maldives, for example, does **not** count the rent from the home being bought when it assesses a purchase.

## What MFLC asks

Maldives Finance and Leasing Company (MFLC)'s home loan form asks directly:
- whether the property is **for living in or to be rented**;
- the **total expected rental income**;
- for supporting documents, **rental agreements and rent forecasts**.

The rent is plainly part of how MFLC looks at the loan. It does not publish how much of that rent it counts.

## For landlords who already let

MFLC's **Direct Loan and Lease** is open to **rent income earners**, alongside the self-employed and entrepreneurs:
- up to **MVR 500,000** over up to five years;
- collateral above MVR 250,000;
- a guarantor;
- three years in your current business or income.

It suits smaller needs, such as furnishing or repairs, rather than buying a flat.

## Doing the sums

- **Be conservative on rent.** Use what comparable finished homes actually let for, not the developer's projection. Binga's Market Index shows median asking rents by area and size.
- **Allow for empty months,** service charges and repairs.
- **Remember the short term.** Over MFLC's maximum of ten years, rent alone will rarely cover the payment. Plan for your other income to make up the difference.
- **Check the early settlement fee** (10% on the conventional loan) if you might sell within the term.

*As published by MFLC on 18 October 2026. MFLC does not publish its rates; ask for them in writing. General information, not financial advice.*

## Sources
- www.mflc.mv/_files/ugd/1bb910_ee00e9c130cc4073a2eeaef1c379e36f.pdf (MFLC Corporate Finance – Home Loan application form, V1 Feb 2026) (https://www.mflc.mv/_files/ugd/1bb910_ee00e9c130cc4073a2eeaef1c379e36f.pdf (MFLC Corporate Finance – Home Loan application form, V1 Feb 2026))
- www.mflc.mv/_files/ugd/1bb910_a8a7439525a042278fa19a6376bb5e71.pdf (MFLC Maal Home Financing application form, V1 Mar 2026) (https://www.mflc.mv/_files/ugd/1bb910_a8a7439525a042278fa19a6376bb5e71.pdf (MFLC Maal Home Financing application form, V1 Mar 2026))
- www.mflc.mv/personal/direct-loan-and-lease (MFLC Direct Loan and Lease, read 18 October 2026) (https://www.mflc.mv/personal/direct-loan-and-lease (MFLC Direct Loan and Lease, read 18 October 2026))

Binga Properties is a real-estate concierge; it may represent homes and developments mentioned here.