Hi guys,
Just trying to figure out how long it took you guys to buy a flat or house in Malta.
Let's say our borrowing power was sufficient for the place we want to buy, we have a 20% deposit and employed in Malta.
will the banks borrow to you within 3-12 months of arrival or do Maltese banks want you to be there longer first?
Thanks guys!
Home loan/Mortgage in Malta
GuestPoster277
23 December 2020 06:28:07
0
2127
I would assume you would have to wait until you have your residence card, it's not easy opening bank accounts here.
GuestPoster277
23 December 2020 08:21:40
0
Hiya,
I presume you mean the temp residency card which you have for the first five years...
2127
I don't know but I would not rush to buy somewhere here it's best to rent for a while to see whether you like living here.
GuestPoster277
23 December 2020 10:03:22
0
I have never made a bad investment when buying property... Really after more info around how easy it is to get a home loan in Malta for European/Australian citizens....Thanks though 
2127
Have you actually moved here yet? If not have you visited Malta?
GuestPoster277
23 December 2020 11:55:30
0
Haven't moved yet but have been to Malta many times
1050
Generally you need to be here 12 months to get a mortgage and will need 30% deposit.
When I got my first house I started the process around 9 or 10 months after arrival and eventually got them to settle on 20% (HSBC)
When I got our 2nd house I was allowed the minimum for 2nd houses which is 15% deposit.
In both cases the process was from August to December and I doubt you'd get it shorter. You'll need life insurance to cover the loans.
(edit) I'd add that's actually a blessing in disguise, since Malta can be quite a difficult place to figure out where you want to settle long term and what to look for.
Subscribe to this topic
Articles to help you in your expat project in Malta
Banking in Malta
If you have relocated to Malta, whether you are working or you have retired, you will probably ...
How to drive in Malta
Malta is a relatively small island measuring only 27km long and 14,5km wide, so it seems on paper to be very ...
Finding work in Malta
Malta is world famous for its postcard-worthy beaches and beautiful landscapes. Indeed, this tiny island nation ...
Finding work in Gozo
If you are planning to live in Malta, why not settle and work in Gozo? Although it is quieter than the main island ...
Resident and work permit for Malta
Getting a resident card and a work permit in Malta is an essential step for any expat. Living in Malta does ...
Accidents and emergencies in Malta
A stay abroad is usually associated with great memories. However, it could happen that an accident or emergency ...
Open a bank account that suits you
Discover the best international banks to manage your money securely.
"