MHC revises lending rates

The Chairman of the Mauritius Housing Company (MHC) announced on Thursday that the interest rate for loans has been revised. The interest rate will be 4.85% for borrowings of more than Rs 3 million and 4.95% for those of less than Rs 3 million. New borrowers will also benefit from several benefits, such as non-payment of administration fees and free solar water heaters. They will also receive free “Building and Life” insurance for up to three months. “We will offer a plan for a house not exceeding 150 square meters and all field assessments will be free. When our inspectors go to the sites, they will give advice to those who are building their homes,” said Deepak Balgobin.