Helping you invest in rental property
Get a buy-to-let loan
Why you'll want this loan
- Borrow between €60,000 and €600,000
- Repay the loan over a maximum term of 25 years
- Get a favourable rate of interest
- No early repayment fees
Things to consider
Loan amount: Your buy-to-let home loan amount will depend on your individual circumstances, the value of the property you want to buy and your income. Maltese residents can borrow up to 75% of the purchase price or the value of the property, whichever is lowest. Non-residents can borrow up to 65% of the purchase price or the value of the property, whichever is lowest.
Loan term: A buy-to-let may be repaid over a maximum term of 25 years but is to be repaid by retirement age.
Loan type: Variable interest rate.
Life insurance: To ensure that your home loan is repaid in the event of death, having an adequate life insurance is essential. We can also provide a life policy to suit your needs.
Building insurance: You must take out adequate buildings insurance. This should cover the cost of rebuilding your home and we recommend that you review the level of cover from time to time to protect your investment.
Variable interest rates: Variable rates can change over the term of your home loan. We quote the rate as a margin over our Home Loans Base Rate. If the Home Loans Base Rate changes, your variable interest rate will change as well. This will affect your monthly repayment.
Fixed interest rates: Fixed interest rate offers are usually available for a limited period of time. Each rate will apply for a specific term. At the end of the fixed rate period your loan will be converted to a variable interest rate.
Fees: Terms and conditions apply
Think carefully before securing other debts against your home. Your home may be repossessed if you do not keep up repayments on your home loan.
The cost of a buy to let loan of €200,000, at a variable borrowing interest rate of 3.90% p.a. for a term of 300 months is illustrated as follows: The APRC will be 4.10% p.a. The loan will be repayable in 299 equal monthly instalments of €1050.92 and one final instalment of €1095.21 . The total sum payable throughout the term of the loan assuming the interest rate remains unchanged will be €316,391.99.
Applicable charges on this loan are as follows - processing fee of €600; processing (legal) fee of €200; updating of searches fee of €41.70; fee for post-deed checking of hypothecary charge of €30; and a bank appointed architect fee of €200 (based on a property value up to €400,000).
The loan is to be secured by a first ranking hypothec and special privilege over the property being financed, 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 financed. If repayments are not maintained, the bank may take steps to sell the property financed following legal proceedings and the borrower may lose his property. Terms and conditions apply.
What you'll need to apply
- evidence of income: Last 3 months' payslips and FS3 form if you're employed, or 2 income tax returns if you are self-employed
- maltese identify card / residence card; if you're not a Maltese citizen, you'll also need to get your passport
- preliminary agreement or deed of purchase of the property
- details of any current borrowing including outstanding balance, monthly repayment, interest rate and maturity date of facility
- details of the second applicant, if you're applying jointly with someone else
Apply in branch
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Apply over the phone
To get a quote and apply, give our advisers a call on
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