# Can my family help me qualify with MIB?

> MIB lets a spouse, parents or children apply with you for home financing, and needs no guarantor. All your repayments together must stay under half your gross income, and you need 12 months in full-time work or regular rental income. The rules and the documents.

Source: Maldives Real Estate News, published by Binga Properties. URL: https://news.binga.mv/mib-who-qualifies-family-co-applicants
Published: 2026-10-18T07:35:03.626Z · Updated: 2026-10-18T07:35:03.626Z · Event date: 2026-10-18

## Who can apply

Maldives Islamic Bank (MIB) sets these conditions for Ujaalaa Hiyaa:
- **Age 18 to 60** when you apply.
- **Twelve months in full-time work.** The FAQ also accepts **regular rental income**.
- **All monthly commitments, including this financing, at most 50% of gross income** (basic salary plus variable allowance).
- **Proof of the 10% equity:** statements, receipts or pension details.

## Family as co-applicants

MIB accepts co-applicants from your **immediate family only**:
- your **spouse** (bring the marriage certificate);
- your **parents** or **children** (bring birth certificates).

Adding a co-applicant's income raises the payment you can afford under the 50% rule. Their other debts count too.

**No guarantor is required.**

## One age rule to check

MIB's FAQ still says all applicants must be **under 65 at the end of the term**. That FAQ answer predates the move to 25-year terms. A 45-year-old would then be limited to about 20 years. Ask MIB whether it still applies, especially if a parent is a co-applicant.

## Your income goes to MIB

You sign a letter confirming that **all your income will be paid into your MIB account** once the financing is approved.

## The documents

- ID card copies.
- **Twelve months** of bank statements.
- **Six months** of salary slips and an **employer's letter** to MIB.
- The developer's **award letter** (booking confirmation), the **sale and purchase agreement** if signed, and **payment receipts.**
- The **equity verification** document.
- The **pension document**, if you are pledging pension savings.
- For rental income: **property titles, rental agreements and the bank statement** of the account receiving the rent.

*As published by Maldives Islamic Bank on 18 October 2026. Rates and terms change; confirm them with MIB before you commit. General information, not financial advice.*

## Sources
- www.mib.com.mv/personal-financing/ujaalaa-hiyaa (MIB Ujaalaa Hiyaa, read 18 October 2026) (https://www.mib.com.mv/personal-financing/ujaalaa-hiyaa (MIB Ujaalaa Hiyaa, read 18 October 2026))
- www.mib.com.mv/frequently-asked-questions (MIB FAQ, read 18 October 2026) (https://www.mib.com.mv/frequently-asked-questions (MIB FAQ, read 18 October 2026))
- www.mib.com.mv/downloads/29/download (MIB Home Financing application form) (https://www.mib.com.mv/downloads/29/download (MIB Home Financing application form))

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