Buying a home is a significant milestone but choosing the right home loan can sometimes feel confusing. This article is designed to demystify home loans, offering clear guidance and insights to prospective homeowners. Moreover, we will also cover why and how APS Bank can make your home-buying journey as smooth as possible.
What Are Your Home Loan Options?
At APS Bank we offer a diverse range of home loan packages designed to meet various financial goals and lifestyles:
- Fixed Interest Rate Home Loan (FIRHL): enjoy fixed interest rates with terms of 1 year, 3 years and 5 years, giving you predictable monthly repayments.
- Variable Interest Rate Home Loan (VIRHL): this flexible option adjusts with market conditions, suitable for those who can handle potential rate changes.
- Green Home Loan: benefit from discounted rates by opting for a more sustainably designed home.
- Buy-to-Let Loan: tailored for those looking to invest in rental properties.
- APlus Home Loan: this option integrates your home loan with other banking products for streamlined management and potentially lower interest payments.
Key Advantages to Choose APS Bank
Choosing APS Bank for your home loan offers many benefits that make your loan experience easier and more personal:
- In-depth personalised service: at APS Bank, we prioritise a personal touch. Our team provides one-on-one guidance, helping you find the best home loan option from start to finish, ensuring that every part of your application is handled with understanding and attentiveness.
- Rapid processing times: we aim to deliver your sanction letter within just 4 weeks from your application, helping you move forward with your home purchase without unnecessary delays.
- Exclusive fee waivers for first-time buyers: to make homeownership more accessible for first-time buyers, at APS Bank we waive several upfront costs including processing, legal, and architect fees, making homeownership more affordable.
- All-in-one financial solutions: we integrate essential services, such as life and home insurance, in our home loan package, making it easier to manage and giving you peace of mind.
- Flexible financing for home upgrades: understanding that a home needs more than just walls, we offer additional solutions for home furnishing and improvements. With competitive rates and a period extended up to 15 years, you can borrow up to €30,000 for home improvements such as furniture, appliances, and additional costs like stamp duty and notarial fees.
- Everyday banking services: becoming an APS customer makes your banking experience simple and flexible. Our everyday banking services include free online SEPA payments, no annual fee credit cards with cashback, convenient internet and mobile banking with myAPS, up to 4 free monthly withdrawals from any local ATM with our debit cards, and more.
These features demonstrate our commitment to not only providing financial solutions but also ensuring that these options are tailored to your needs and make your homeownership journey stress-free.
The Home Loan Journey – What to Expect
From the first consultation to final approval, our goal is to make the process simple and clear. Let us take a deeper look:
- Initial consultation: this crucial first step involves a preliminary discussion before you even start looking for a property. It is designed to assess your financial situation and determine how much you could potentially borrow, setting a realistic budget for your home search.
- Application process: once you find your desired property, the application process begins. We provide forms and resources on our website, guiding you through the necessary paperwork and requirements. This ensures you have all the tools at your disposal to submit a complete and correct application.
- Flexible meeting options: we offer flexible scheduling for meetings. These can be conducted in-branch for a more personal interaction, or virtually for convenience. Additionally, we accommodate after-hours appointments, ensuring that discussions about your home loan can fit into your lifestyle without disruption.
- Ongoing support and communication: throughout the process, you will receive continuous support and updates. We keep you informed at every stage, from application submission to the final approval, ensuring transparency and easing any concerns.
Get Started with APS Bank
Starting your home loan application with APS Bank is simple. Visit our dedicated home loan page to explore your options, use our handy home loan calculator, and schedule your initial consultation by filling in the form below. Ready to start? Get in touch with us today.
"*" indicates required fields
Life and property insurance are obligatory in order to obtain the loan. The loan is to be secured by a first ranking general and special hypothec and special privilege over the property being financed in Malta, a first ranking pledge over a life assurance policy covering the whole loan amount and a buildings insurance policy for the replacement cost of the property being end-financed. In the event of non-observance of the terms and conditions, including non-adherence to the loan repayments, the bank may take steps to sell the property financed, following legal proceedings, and you may lose the property.
Approved and issued by APS Bank plc, APS Centre, Tower Street, B’Kara BKR 4012. APS Bank plc is regulated by the Malta Financial Services Authority as a Credit Institution under the Banking Act 1994. Applications are subject to the Bank’s lending criteria. The Bank is a participant in the Depositor Compensation Scheme and the Investor Compensation Scheme as established under the laws of Malta. Terms and conditions apply and are available on apsbank.com.mt/terms-and-conditions.
