Home Loan


After searching the Islands for the right home, now the hunt is on for the right loan too.  We'll guide you through the whole process to make sure you have a loan that works for you.  

Features and Benefits

You may benefit from this Home Loan if you're:

  • Buying your first property;
  • Changing your primary residence; or
  • Buying your second residence as long as the purchased property will be used for your personal residential requirements.

You will be able to use the loan for the purchase, construction, completion, reconstruction, alteration or improvement of the property you will be purchasing.  Kitchens, photovoltaic panels, air conditioning systems and solar water heaters are considered as part of completion works.

 

How it works

Purchasing your first home or changing your primary residence

Loan Amount: This will depend on your level of income and property value.  You will be requested to contribute at least 10% of the total project cost. 

Term of Loan: The loan can be taken for a term of 40 years or until you reach the age of 65 years, whichever comes first. 

 

Purchasing a property other than your primary residence

Loan Amount: This will depend on your level of income and property value.  You will be requested to contribute at least 15% of the total project cost. 

Term of Loan: The loan can be taken for a term of 25 years or until you reach the age of 65 years, whichever comes first. 

 

Interest Rates

We offer financial solutions tailor-made to customers' needs and requirements with advantageous rates applicable throughout the duration of the term .

You may choose one of the following 2 options depending on which option best suits your needs:

Option 1:

  • A fixed rate of 1.95% p.a. for a maximum of 24 months until December 2022; and 
  • A variable rate of 2.99% p.a. (made up of the Home Loan Base Rate1 and a spread of 0.79% p.a.) for the remaining term of the loan (APRC of 2.95%).

Option 2:

  • A fixed rate of 2.59% p.a. for a maximum of 48 months until December 2024; and 
  • A variable rate of 2.99% p.a. (made up of the Home Loan Base Rate1 and a spread of 0.79% p.a.) for the remaining term of the loan (APRC of 2.99%).

Repayments

Repayments are scheduled monthly throughout the term of the loan. You also have the possibility to repay this loan early, either fully or partially as follows:

  • Early repayments may be affected by notifying the Bank in advance; 
  • In case of partial early repayments, the monthly repayment amount and any applicable costs may be adjusted, however the term of the loan will remain unaltered;
  • In the case of full early repayment during the fixed interest rate period, an early repayment fee of 1% will be charged on the balance due to BNF Bank based on the original repayment schedule. 

Come talk to us

Visit us at your preferred BNF Bank Branch and bring with you:

  • Your ID Card
  • Evidence of income:
    • Last year's FS3 and the last 3 months' payslips; or
    • If you're self employed, the last 3 years' Income Tax Return, including the Profit and Loss Account.
  • Bank statements of all your accounts held with other banks.

Each application is subject to the Bank's lending criteria, and the Bank may request additional documents as necessary.

We're ready to listen.

Representative example consists of a typical Home Loan of €250,000 repayable over 30 years with a fixed interest rate of 1.95% p.a. for the first 24 months and a variable interest rate of 2.99% p.a. for the remaining of 336 months. The facility will be repayable in 24 monthly instalments of €921.19 and 336 monthly instalments of €1,049.81 with a total amount which the customer would pay totalling €375,894.15 (including capital and interest) plus the following charges: €600 processing fees, €350 legal fees and €100 loan closure fees. The Annual Percentage Rate of Charge (APRC) applicable in this case is 2.95%. 

A second representative example consists of a typical Home Loan of €250,000 repayable over 30 years with a fixed interest rate of 2.59% p.a. for the first 48 months and a variable interest rate of 2.99% p.a. for the remaining of 312 months. The facility will be repayable in 48 monthly instalments of €1,004.25 and 312 monthly instalments of €1,051.93 with a total amount which the customer would pay totalling €377,457.28 (including capital and interest) plus the following charges: €600 processing fees, €350 legal fees and €100 loan closure fees. The Annual Percentage Rate of Charge (APRC) applicable in this case is 2.99%.

All third-party fees have not been taken into consideration in the calculations of the Annual Percentage Rate of Charge (APRC). The facility is to be secured by a 1st general hypothec, 1st special hypothec and a special privilege over the property being purchased, a life assurance policy covering a whole facility amount and a building insurance policy for the replacement cost of the same property. 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. Click here for further details on this loan product. The loan is subject to the Bank’s lending criteria. The Bank reserves the right to amend or withdraw this loan product from the market at any time, at its sole and absolute discretion and without any prior notice. BNF Bank plc is a credit institution licensed to undertake the business of banking by the MFSA in terms of the Banking Act 1994. Registered in Malta C41030 - 203, Level 2, Rue D'Argens, Gzira, GZR 1368, Malta.

 

1 The Home Loan Base Rate is currently 2.20% p.a.

2 The Bank's Base Rate is currently 2.50% p.a. 

Brochure 

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BNF Bank plc is a credit institution licensed by the MFSA to undertake
the business of banking in terms of the Banking Act 1994.