Banif Bank (Malta) plc

This organisation only launched in Malta in 2008 and aims to become a key player in the market. It has a number of home loan packages that cater for those buying real estate for the first time as well as people wanting to acquire a second home. All are tailor made to cover individual needs.

The packages are:

• Banif Classic Home Loan, which is designed to meet most needs and is particularly suitable for anyone looking to acquire a second home
• Banif First Time Buyers Home Loan is aimed at those taking the first step into the property market.

Both packages have:

• easy repayments terms with a maximum term of 50 years or up to the age of 75. Extended terms mean you can afford a more expensive property or benefit from lower monthly repayments. However, they will mean a higher cost in the long term.
• higher loan amounts, with repayment amounts being allowed up to 35% of gross income for those earning over €40,000 a year
• monthly payments of life and home insurance premiums rather than requiring an annual payment in advance
• reasonably priced and transparent processing and legal fees so you know the total cost of the loan.

The website currently has no facility for online loan application. Instead, you’ll need to call in at a branch or use the freephone number of 8007 3200