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Do I qualify for a Maltese mortgage?
To qualify for a
mortgage in Malta, a calculation is used to establish whether you can afford to maintain the mortgage repayments. This will automatically happen when you complete the application form, and Mortgage
Helpline International won't charge you for this service.
How much can I borrow?
Calculation based on the valuation or purchase price, whichever is the lower
Up to 90% of LTV
available for house purchase, remortgage or home improvements in Euros.
Based on joint net "take home" pay, where joint income is applicable
Existing liabilities, e.g. mortgage or rental payments,
loans, credit card payments and maintenance are taken into account, together with the proposed Maltese mortgage payments. All this must not exceed 35% of your monthly net income.
What evidence
of income do I need?
If you are employed:
Your last three month's payslips
Your latest P60 & Employers Reference
Your last six month's personal bank statements
If you are
self-employed:
Your last three year's audited accounts
Your last six month's business bank statements
Your last six month's personal bank statements.
Example mortgage payments
If, for
example, your net joint monthly income is £2,500, 30% of this equates to £875. If your only liability is your mortgage payment, of say £300, this would leave a balance of £575 for your Maltese mortgage
repayment.
What types of Maltese mortgages are available?
For our latest rates and to see the different types of Maltese mortgages on offer, please contact us.
Loans available up to
90% of the valuation or purchase price of the property, whichever is the lower.
The maximum term of any mortgage is 30 years, this varies on the type of loan
Repayment mortgages available
The
minimum loan you can take out is £20,000
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