Bank of Valletta has launched a new home loan package that is specifically designed to cater for the specific requirements and needs of first-time buyers.

"The new BOV Home Loan package for first-time buyers complements our comprehensive range of products in this area and offers couples and single persons who do not yet own a residential property the opportunity to take out a loan to purchase their first property," said Denis Busuttil, Head of BOV's Home Loan Office.

Customers can borrow up to Lm50,000 (€116,468.67), at very advantageous interest rates with a repayment period of up to 40 years.

First time buyers can additionally benefit from the government's subsidy on the interest for the first ten years of the loan as announced in the government's budget.

As additional incentives to first-time buyers, Bank of Valletta is also waiving the processing fees and offering a discount of 50% on the legal fees related to the loan. Furthermore, Bank of Valletta is also offering customers a Furniture Loan to finance the acquisition of furniture and white goods to furnish the property being bought. This loan carries the same advantageous terms and conditions as the BOV Home Loan.

"The BOV Home Loan for first-time buyers continues to add on the versatility of the bank's range of Home Loans which includes Maltese Lira or euro, Variable or Fixed Interest Rate Home Loans, Bridging Loans, Interest Only Home Loans and Buy-to-Let Loans. Our comprehensive home loan product range enables us to effectively provide long-term support and tailor-made solutions to suit our customers' individual requirements. Our products, coupled with a quick decision process and speedy access to funding, can make all the difference in securing the right property for our customers," concluded Mr. Busuttil.

Full details about the BOV Home Loan for first-time buyers may be obtained from any Bank of Valletta branch or by calling our Customer Service Centre on 2131 2020.