Malta — Property: Mortgage Availability

Key facts

• Foreign buyers may face restrictions on purchasing property in Malta due to the Alien Landholding Regulations.
• Some lenders may require a 10-20% deposit for a mortgage in Malta, although this can vary.
• Interest rates for mortgages in Malta are generally higher than those in other European countries.

Steps

1. Step 1: Assess your eligibility — Check your credit score and financial situation to determine if you qualify for a mortgage in Malta.
2. Step 2: Choose a lender — Research and select a lender that offers mortgages to foreigners in Malta. Some lenders may require a local guarantor or have specific requirements for foreign buyers.
3. Step 3: Apply for a mortgage — Submit your application and supporting documents to the chosen lender. This may include proof of income, employment, and credit history.

Costs

• Mortgage Broker Fees: varies, typically 0.5-1% of the mortgage amount

Timelines

• Mortgage Application Processing Time: 2-6 weeks

Required documents

• Proof of income and employment
• Credit history report
• Identification documents (e.g. passport, ID card)

Common mistakes

• Not checking the Alien Landholding Regulations before purchasing a property in Malta
• Not disclosing all income and employment details to the lender

AI confidence note (remove before publishing)

This information is based on general knowledge and may not reflect the specific regulations and requirements in place at the time of reading. It is recommended to consult with a financial advisor or lawyer specializing in Maltese property law for the most up-to-date and accurate information.