Expat Mortgages in Malta

British couple getting a mortgage in Malta- what's the deal? Is it near impossible?

Do any of you have a mortgage? Not to rent out or anything, but to live in?

No its not impossible - far from it - just have to be able to afford it by being financially secure. You can easily enquire with any of the banks and am sure they will advise appropriately.. they did for us but we were really to old for them at 51...LOL but it was the thought of all the rental we were and still are paying and thought we'd be able to get a mortgage - had we been younger then that would have been a doddle for sure.

I am interested in this for our future plans. Our house is on the market in the UK as of today (BIG CHEER!!!)and our Estate Agent has been very positive in that she thinks it is unlikely that it will be on the market for very long. Ideally we want to rent first off to get a feel for the areas but in the near future would definitely like to get a mortgage again. I haven't got a clue about how to go about it in Malta but will be watching this thread with interest...

There are no building societies here - only banks - we just went to out local bank and gave them our financial stats - and they give you a quote on the basis of what they are prepared to lend you..they wont normally lend to anyone who is self employed unless you can provide proof of at least 18months accounts. Those who are employed here may need to gain some months of full employment behind them as unlike other parts of the eU the malti do appear to be much more cautious in lending (NB thats not always the case if you look at the amount of builders/developers with empty unsold properties and yet they still lend them money!!!)

Its definitely the best thing to do to rent short term (i would suggest 3months let if you can) that then gives you time to adjust and get to know the initial area and surrounding servcies and neighbours....and then if its not to your liking go elsewhere and do he same again with a view to a longer term let. We went to Bugibba/St Pauls first then moved to Mellieha's Santa Maria Estate and the moved agian to be mroe central in the village. Thinks long an hard about what it is you want from living/working here and what you need to be comfortable as these things are so important. Our requirements have changed over the three and half years we have been here and we now have what we believe to be our best home yet.....and hopefully we wont be moving again.

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