# MFLC's Home Loan, in plain terms

> Maldives Finance and Leasing Company lends for buying, building or renovating a home: from MVR 200,000, over five to ten years, with 20% of your own money and a guarantor. What its Home Loan offers, who it suits, and what it does not publish.

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

**Maldives Finance and Leasing Company (MFLC)** is a locally owned finance company licensed by the Maldives Monetary Authority. It has lent in the Maldives since 2002. Its main housing product is the **Home Loan**, which MFLC lists among its corporate finance products.

## What it pays for

- Building a new home, or **extending, renovating or improving** one.
- **Buying land or a housing unit.**

## The terms MFLC publishes

| | Home Loan |
|---|---|
| Amount | Above MVR 200,000 (no maximum published) |
| Term | 5 to 10 years (60 to 120 months) |
| Grace period | 3 to 12 months |
| Your equity | At least 20% of the total project cost |
| Security | The property being financed |
| Age | 18 to 60 |
| Guarantor | Required for individuals: someone with a stable income |
| Rate | **Not published** |

If construction is involved, the contractor must have **five years' experience and be registered with MFLC**.

## How it compares with a bank

The differences from the big banks' home financing are large:
- **Shorter term:** ten years at most, against up to 25 at Bank of Maldives. Monthly payments are therefore much higher for the same amount.
- **More equity:** 20% rather than 5%.
- **A guarantor:** required for every individual borrower.

What MFLC offers instead is a **second lender** to try, with an application process it says takes a few working days once documents are complete.

## Who it might suit

- Buyers who **want to own outright quickly** and can carry a higher monthly payment.
- Owners **building or extending** on land they hold, especially where rent from the new floors will help repay. MFLC's form asks for expected rent.
- Borrowers who need a **second source of finance** alongside a bank.

## Before you apply

Ask MFLC for, in writing: the **rate**, whether it is fixed, the **maximum amount** it will lend you, and whether **insurance** is required. None of these is published.

*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/business/home-loan (MFLC Home Loan page, read 18 October 2026) (https://www.mflc.mv/business/home-loan (MFLC Home Loan page, read 18 October 2026))
- 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/about (MFLC About, read 18 October 2026) (https://www.mflc.mv/about (MFLC About, read 18 October 2026))

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