Hiya Faseyha Lease

Hiya Faseyha is a dedicated product for Employed individuals funding home improvement purposes.

Are you planning to move out to a new apartment or bring some improvements to a residence, yet worried how to finance your requirement? Worry no more, as MFLC specifically address this requirement of customers through our Hiyaa Faseyha Lease. Choosing materials you desire from our broad range of registered suppliers allows for a smoother journey to your new home.

MFLC Hiyaa Faseyha, the convenient lease for home improvement needs!

Key Features

Funding

Finance home improvements up to a limit of MVR 100,000/-, where eligible

Repayment Schedule

Enjoy repayments to 24 months (2 years), based on qualifying income

Insurance

No mortgage security requirements or title deed transfers
Requirements
  • Individuals shall be serving the Approved Employer or declared affiliate for 2 years to qualify
  • Employment verification letter and Salary Slips shall be stamped outlining the registration number and endorsed by Human Resource (or relevant function) of Approved Employer
  • For requests below MVR 60,000/- applicant to provide contact details of an immediate family member and their National ID Card details, obtained and declared with their consent
  • Requests above MVR 60,000/- to include a Guarantor, for which consent and approval shall be obtained to provide their i) ID Card, and ii) Employment Letter & iii) Last 6 Salary Slips, stamped.
  • Quotations to be sourced from MFLC registered suppliers
Eligibility
  • Individuals, should have completed 2 years of service with registered employer
  • Qualifying income determined by breakdown of last 6 months’ salary slip
  • Contract to link between customer to owner of apartment/unit being improved

How it works?

HIyaa Faseyha Lease, is tailored to customers moving into a new apartment or residence.

Finding the dream home to move in can be challenging. Be it moving to a new place of residence on a contract lease or a new apartment which you plan on bringing improvements to amounting MVR 10,000/- and above, conveniently fund your construction materials from our registered suppliers through MFLC Hiyaa Faseyha.

MFLC Hiyaa Faseyha – keys for your dream home!

How to apply?

  1. Apply through submitting a completed Application Form (Except signatures and date)
  2. Submit National ID Card, along with stamped Employment Letter and Salary Slips
  3. Present quotations of home improvement materials from registered suppliers
  4. Sign the Lease Agreement – understand the terms and conditions offered by MFLC
  5. Receive your goods based on issued Purchase Order from MFLC