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									                                                                                  BOV HOME LOANS

your home away from home

We have prepared a unique package aimed specifically for residents of Gozo
wishing to purchase a second property in Malta and residents of Malta wishing
to purchase a second property in Gozo. This package offers exclusive benefits*,

·   Variable Interest Rate 3.15% (1% margin over HLBBR) for loans up to
·   Variable Interest Rate 3.25% (1.1% margin over HLBBR) for loans more than
·   50% discount on Personal Loan Processing Fees
·   No Initial Processing Fees on overdraft up to a maximum of Euro 2,000
At Bank of Valletta we know that whether you are a first-time buyer or acquiring your second
residence, the purchase of a new home requires careful consideration. In order to facilitate this
process, we offer a professional management service to assist you in finding the appropriate
financial option that best suits your needs and requirements.

Your easy guide to BOV Home Loan                                 Renovating your Current Home

Our range of home loans is offered on the following basis:       A BOV Home Loan can also help you to finance the
                                                                 renovation of your home. Your family may have outgrown

·   Up to 90% of the purchase price and/or completion            your home; you may need more bedrooms, bigger living

    costs;                                                       areas, a modern kitchen or a pool. The cost of renovating

·   Competitive interest rates;                                  your existing home can often be cheaper than you think.

·   Monthly repayments designed to be affordable, as a           In many cases, home renovation can be an excellent way

    percentage of your gross income;                             to increase the overall value of your home whilst giving it a

·   A loan amount based on income affordability;                 new, fresh look.

·   Flexible loan repayment terms of up to 40 years;
·   The property itself is offered as security;                  Future Income Home Loan

·   A life assurance policy for the full value of the loan is
    required as security;                                        Do you believe you have excellent potential for income

·   An insurance policy to cover the replacement value of        growth? Would you like to buy the home that you will afford

    the property is required.                                    in a few years’ time?

Our comprehensive range of home loan                             You can now apply for a BOV Home Loan that offers you

options has been developed to suit your                          a stepped loan repayment for up to the first seven years

individual requirements, including:                              from loan drawdown commensurate with your professional
                                                                 career growth. You may apply for this loan if you are 35 years

BOV Home Loan Package for First-Time Buyers                      or younger, with a minimum income of €15,000 for a single
                                                                 income borrower and €25,000 for joint income borrowers.

A new chapter in your life means it is finally time to own the
home you have been dreaming of. At BOV we understand             BOV Home Loan for Second-Time Buyers

that this first step can be made even easier with our support.
In order to make budgeting easier, we have prepared a            You’re happy with your dream home and are now hunting

unique package aimed specifically to offer first-time buyers     for a second property or holiday home. Finding one can

exclusive benefits.                                              be magical.

The main benefits include:                                       We can assist you with a home loan built around your
·   A loan up to €150,000;                                       personal financial situation and the amount of equity you
·   Maximum term of up to 40 years;                              already have in your home.
·   Advantageous interest rates, presently at 1% over the
    bank’s base rate, for loans of up to €120,000 and 1.1%       Bridging Loans
    for loans between €120,000 and €150,000;
·   No processing fees will be charged;                          You may wish to buy a new home and require finance while
·   A discount of 50% on the Bank’s legal fees;                  your present home is being sold. The bridging loan will
·   Additional loan to purchase furniture and appliances         then be repaid from the proceeds of sale of your exisiting
    (terms and conditions apply).                                property.
Fixed-Interest Rate Home Loans                                    Documentation required when applying for a
                                                                  BOV Home Loan
This loan offers you the security of knowing that your Home
Loan interest rate will not change during the term of your        ·   Your I.D. Card/s or passport/s;
fixed rate period. The Fixed-Interest Rate Home Loan will         ·   Evidence of income, FS3 forms and/or tax returns (as
give you peace of mind by allowing you to plan ahead with             the case may be);
certainty of knowing what your interest rate will be during       ·   Records of any investments, life assurance policies and
the fixed rate period.                                                other assets, as well as three-year statements of your
                                                                      bank accounts, if you bank with other institutions;
At the end of the fixed rate period your loan will be converted   ·   Records of any financial commitments such as existing
into the variable rate as agreed to in the Bank’s sanction            personal loans, credit cards, etc.
letter, unless you will opt to take up another Fixed-Interest     ·   In the case of non-residents, copies of evidence of income,
Rate contract.                                                        settled utility bills, Bankers reference, Bank statements
                                                                      (including savings and credit cards) are required.
Interest-Only Home Loans                                          ·   Architect’s property report and valuation;
                                                                  ·   Architect’s estimate of costs (where applicable);
This type of home loan gives you the opportunity to repay         ·   Building permits, layout plans and site plans (where
the interest only, over a maximum term of 6 years. The                applicable);
capital will be repaid in one lump sum at the end of the term.    ·   Preliminary agreement / deed of acquisition;
You can use this loan to purchase and/or complete your            ·   Ground rent receipts (if applicable).
main or second property. Interest can be paid monthly or
semi-annually in March and September.                             Your Next Move…

Buy-to-Let Loans                                                  Before taking any decisions it would be beneficial to seek
                                                                  advice and take advantage of our expertise. Even if you are in
You may also wish to obtain finance in order to buy and/or        the initial phase of your search and have not actually viewed
complete a residential property for letting purposes.             any properties, or are still considering home improvements,
                                                                  or simply wish to find out what your loan entitlement is, we
Through the BOV Buy-To-Let Loan:                                  can help you reach your decision. Furthermore, we commit
·   You may borrow up to €580,000;                                ourselves to provide you with a fast and efficient service.
·   The maximum amount of the loan must not exceed the
    equivalent of 75% of the purchase price or professional       You are therefore invited to visit your nearest BOV branch
    valuation of the property, whichever is lower;                where our trained staff are available to discuss your borrowing
·   The monthly repayments must not exceed 35% of                 requirements, and provide you with all the information you
    your existing disposable income. A portion of the             need regarding home loans and other financial options. You
    anticipated rental income could also be included;             will thus be able to reach the best possible solution before
·   Maximum term of loan for up to 25 years from first            you enter into a commitment.

                                                                  Alternatively, you may contact our Home Loans Office, at
Remortgage                                                        1st Floor, St. Bartholomew Street, Qormi, or on telephone
                                                                  numbers: 2275 3484, 2275 3486 or 2275 3487.
You can switch your present home loan held with other
Institutions at no extra cost. You can also benefit from a
generous rate of interest, free processing and legal fees
together with a reimbursement of your notary fees of up
to €600.
**Terms and conditions apply.
            * Benefits end on 30th September 2012.
            ** Terms and conditions apply.
            All loans are subject to normal bank lending criteria and final approval from your BOV
            branch. Terms and conditions apply. The Base Rate on Home Loans is 2.15% as at time of
            publication. Please check for the latest bank’s base rate. The term of the loan must not go
            beyond retirement age.

            An Indicative Example:

            Typical example of a Home Loan, hereinafter referred to as “the loan”, based on an amount
            of €100,000 being made available by Bank of Valletta p.l.c. over a term of 40 years, to
            purchase a first residence, and subject to an initial fixed interest rate of 2.90%p.a. for the first
            3 years and a subsequent variable borrowing interest rate of 3.15%p.a. (APRC of 3.17%p.a.).
            The loan is repayable in 36 monthly installments of €354.55 each, followed by 444 monthly
            installments of €368.37 each. The total sum payable throughout the term of the loan,
            assuming that the variable interest rate remains unchanged and that payments are effected
            as indicated above, will be €175,595.08. Bank charges currently applicable on this loan offer
            are as follows: €300 processing fee refundable in full on deed; €270 legal fees, of which 50%
            is being discounted; updating of searches fee (every 8 years) of €30; renewal of hypothec fee
            (after 30 years) of €50; cancellation of hypothec fee of €50, and any out-of-pocket expenses
            payable at the time. The loan is to be secured by a first ranking general and special
            hypothec and special privilege over the property being financed, a first ranking pledge over
            a life assurance policy covering the whole loan amount and a buildings insurance policy for
            the replacement cost of the property being financed. In the event of non-observance of the
            terms and conditions of the loan, the Bank may proceed with legal action in order to ensure
            that the loan is settled in full. This may result in the customer losing the property financed.

            Your success is our goal.

                 BOV HOME LOANS

                 2131 2020 I
BOV 30773

                 Issued by Bank of Valletta p.l.c.
                 58, Zachary Street
                 Valletta VLT 1130 - Malta

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