All you need to know about the housing loan relief scheme
The Housing Loan Relief Scheme in Mauritius is a government initiative aimed at providing financial relief to individuals with secured housing loans*.
Here are the key details:
Monthly Allowance
Eligible individuals receive a monthly allowance of MUR 1,000, which is intended to assist those affected by rising interest rates. This allowance is available from July 2023 to June 2024, and has been extended to cover an additional year, from July 2024 to June 2025.
Eligibility Criteria
To qualify for the scheme, applicants must:
✅Be citizens of Mauritius.
✅Have a secured housing loan not exceeding MUR 5 million from approved financial institutions.
✅Use the loan for purchasing, constructing, or extending a house.
✅Make a repayment exceeding MUR 1,000 in the month prior to the relief payment
Application Process
Individuals must submit a one-time application electronically through the Mauritius Revenue Authority (MRA) website, providing their bank account details for the allowance payment. Those who have already applied do not need to reapply for the extension period.
To submit a request, click here
• Fill out the application form with the required information.
• An one-time password (OTP) will be sent to your mobile phone. Enter this OTP to proceed with your application.
Financial Impact
As of February 2024, the MRA had disbursed over Rs 202 million under this scheme, benefiting approximately 28,000 individuals. The scheme is part of broader efforts by the government to alleviate financial pressures on households during challenging economic times.This initiative reflects the government's commitment to support homeowners and stabilize the housing market amidst fluctuating interest rates.
NOTE
Make sure you have your national identity card (CNI), your cell phone switched on and a valid bank account number to which the allowance will be credited.
If you encounter any issues while applying, you can contact the MRA Help Desk at 207 6000 during office hours or send an email for assistance.
Sell or Rent with DECORDIER real estate, your local agency in Grand Baie. Also, in France in Evian-les-Bains and Thonon-les-Bains.
DECORDIER immobilier Grand Baie
Phone : +230 268 2828
E-mail : contact@decordier-immobilier.mu
Website : www.decordier-immobilier.mu
* A secured home loan is a type of financing that is secured by a mortgage or fixed charge on a property. This loan is specifically designed for the purchase, construction and extension of a home. The secured home loan also includes the refinancing of an existing secured home loan. It is important to note that this type of loan does not include the purchase of bare land.