On Wednesday 12th January 2022, APS Bank signed an agreement with the Ministry for Social Accommodation and the Housing Authority for the extension of the Equity Sharing Scheme to now be available for individuals and couples aged thirty or older. The event was held at the Aula Magna at the University of Malta Valletta Campus. The Hon. Roderick Galdes, Minister for Social Accommodation made the introductory speech, followed by Leonid McKay, CEO of the Housing Authority and Liana DeBattista, Chief Strategy Officer at APS Bank.
The scheme is targeted towards aspiring buyers with a limited pool of assets, who fall short of being able to access the homeownership market, yet also ineligible for social accommodation. The property will be jointly owned by the buyer and the Housing Authority. The buyer must have a 10% down payment on the value of the property to be purchased, while the remaining equity will be split between the buyer and the Housing Authority.
Ms DeBattista, commented, “We have always been very innovative in the field of social banking and ready to work with the relevant parties to develop products and schemes to support our customers to purchase a property. This is an integral part of our strategy. Apart from that, this is our job, our role in the community and also part of our social soul as bankers.”
To view the recording of the press conference please visit the Bank’s Facebook page. For more information about the Equity Sharing Scheme please visit apsbank.com.mt/equity-sharing-scheme.
