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Sub-Saharan Africa

The Housing Finance System

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A. Primary Housing Finance Market
B. Funding Sources for Mortgages and the Secondary Mortgage Market
C. Housing Microfinance

A. Primary Housing Finance Market

A.1 Industry Structure and Performance

Variable	End of 2015	End of 2014	End of 2013	Sources	Var ID
Types of originating lenders/market share:					A.1.2
Are there (quasi) public mortgage lenders:	Yes	Yes	Yes	HFC	A.1.4
Non-depository financial institutions specialized in housing finance	Yes	Yes	Yes	HFC	A.1.4.3
Level of Non-Performing Mortgage Loans (90 days or more past due):					A.1.6
Average 1997-2007					A.1.7

A.2 Size of Mortgage Finance Sector

Variable	End of 2015	End of 2014	End of 2013	Sources	Var ID
Total amount of home mortgage loans outstanding at the end of year in millions of USD:	38.02 USD (millions)	33.02 USD (millions)	37.5 USD (millions)	Central Bank of Seychelles	A.2.1
Total amount of home mortgage loans outstanding at the end of year as % of GDP (current)	2.77%	2.45%	2.85%	WEO and Central Bank of Seychelles	A.2.1.1
and as % of all credits outstanding	10.91%	10.8%	13.2%	WEO and Central Bank of Seychelles	A.2.1.2

A.3 Housing Finance Products

Variable	End of 2015	End of 2014	End of 2013	Sources	Var ID
Mortgage products as % of all mortgages (approx.) in local currency:					A.3.1
Most prevalent type of foreign currency mortgage used:					A.3.3
Most frequent interest rates on fully amortizing:					A.3.4
Typical lender fees associated with mortgage origination:					A.3.6
Typical third party fees associated with mortgage origination:					A.3.7
Loan-to-Value (LTV) on first mortgage:					A.3.8
Maximum term over which pmt is calculated?	30 years	30 years		Research: Comparison of several mortgage lending banks and Housing Finance Company Limited	A.3.9
Mortgage pmt-to-income ratio					A.3.10

A.4 Lending and Servicing Process

Variable	End of 2015	End of 2014	End of 2013	Sources	Var ID
Which institutions define underwriting rules?					A.4.2

A.5 Credit Risk Assessment

Variable	End of 2015	End of 2014	End of 2013	Sources	Var ID
Are credit guarantee systems used?	Yes			Central Bank of Seychelles	A.5.4

B. Funding Sources for Mortgages and the Secondary Mortgage Market

Variable	End of 2015	End of 2014	End of 2013	Sources	Var ID
What are the main funding sources for mortgages?					B.1
Retail funding (deposits/other)			primary	CAHF	B.1.1
Other			secondary	CAHF	B.1.5

C. Housing Microfinance

Variable	End of 2015	End of 2014	End of 2013	Sources	Var ID
Types of lenders operating in the housing micro-finance (HMF) sector:					C.2
Level of NPLs (>90 days past due) in HMF					C.4

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