Housing Loan Requirements in Sri Lanka: The 2025 Checklist
December 25, 2025
Housing Loan Requirements in Sri Lanka: The 2025 Checklist
Getting a loan is harder than finding the house.
Banks in 2025 are cautious. They look at two things: Repayment Capacity (Can you pay?) and Title Quality (Is the land safe?).
1. Eligibility Basics
- Age: 18 to 60 years (Must pay off before retirement).
- Employment: Permanent job confirmed (usually 1 year seniority) OR Business registration (3 years).
- Income: The "40% Rule" - usually your loan installment shouldn't exceed 40-50% of your take-home pay.
2. Document Checklist
A. Personal Documents
- NIC / Passport copy.
- Salary Slips (Last 3 months).
- Letter from Employer (Confirming salary & position).
- Bank Statements (Last 6 months).
B. Property Documents (The Hard Part)
- Deed: Original (or certified copy) of the land deed.
- Survey Plan: Approved by the Surveyor General/Council (within last 10-20 years).
- Extracts: 30-Year Land Registry Extracts.
- Street Line / Non-Vesting Certificates.
- Local Authority Tax Paid Receipt.
- Valuation Report: From a bank-panel valuer.
3. The Guarantor Issue
Some banks ask for a Guarantor (someone who pays if you don't).
- Who: Usually a spouse or immediate family member with income.
- Modern Loans: Many banks now offer "No Guarantor" loans if your salary is routed to them.
4. Why Loans Get Rejected
- CRIB Report: If you defaulted on a credit card 2 years ago, it shows. Clear your CRIB first.
- Title Defects: If the lawyer finds a gap in the ownership chain.
- Unapproved Plan: (See our guide on Unapproved Plans).
Get Pre-Approved first. Contact Bank Agents