BNF Bank has extended and enhanced its current home loan offer for another six months, until June 2019. The offer consists of a fixed interest rate of 2.25 per cent p.a. until June 2020 and a variable rate of 2.99 per cent p.a. thereafter. During the offer period, the bank is also offering a full refund on the processing fees for persons buying their first property or changing their primary residence up to a maximum of €600.
Persons buying their first property, changing their primary residency or purchasing a second home can avail themselves of this offer, as long as the property is used for personal residence.
The loan is available for purchase, construction, completion, reconstruction, alteration or improvement of the property. Kitchens, photovoltaic panels, air-conditioning systems and solar water heaters are considered part of completion works. In addition to the home loan, one can also apply for a personal loan at reduced rates to finance other personal requirements.
“We are pleased to further enhance our competitive home loan offer at a time when interest in real estate is high,” said Melvin Pellicano, head of business development at BNF Bank.
“With Malta’s culture of owning one’s own home set to remain strong, we believe our product offering is very attractive to those who wish to invest in their family’s future by purchasing a new home or making improvements to their existing residence. Our home loan, like all of our products, can be customised to individual requirements, according to one’s life needs. What’s more, our banking model puts the customer at the core, via easy and transparent banking, and through a pleasant customer journey.”
For more information about the BNF Bank home loan, visit your preferred branch, call customer care on 2260 1000, or e-mail customercare@bnf.bank. Customers are encouraged to book an appointment at their preferred branch and to take identification, evidence of income and bank statements on the day. Details of the home loan can be found on the bank’s website www.bnf.bank/home-loan-offer.
Representative example consists of a typical home loan of €250,000 repayable over 30 years with a fixed interest rate of 2.25 per cent p.a. for the first 12 months and a variable interest rate of 2.99 per cent p.a. for the remaining 348 months. The facility will be repayable in 12 monthly instalments of €959.60 and 348 monthly instalments of €1,055.32 with a total amount which the customer would pay totalling €379817.02 (including capital and interest) plus the following charges: €600 processing fees, €350 legal fees and €100 loan closure fees. The annual percentage rate applicable in this case is 3.05 per cent. All third-party fees have not been taken into consideration in the calculation of the annual percentage rate. The facility is to be secured by a first general hypothec, first special hypothec and a special privilege over the property being purchased, a life assurance policy covering the whole facility amount and a building insurance policy for the replacement cost of the same property. If repayments are not maintained, the bank may take steps to sell the property financed following legal proceedings and the borrower may lose his property.
Terms and conditions apply. The loan is subject to the bank’s lending criteria. The bank reserves the right to amend or withdraw this loan product from the market at any time, at its sole and absolute discretion and without any prior notice. BNF Bank plc is a credit institution licenced to undertake the business of banking by the MFSA in terms of the Banking Act 1994. Registered in Malta C41030, 203, Level 2, Rue D’Argens, Gżira, GZR 1368, Malta.