Ideal for you? APS launches 'Social Loan - Home Acquisition and Contents Plan'.

Ideal for you? APS launches 'Social Loan - Home Acquisition and Contents Plan'.

You should find out if you are eligible for this plan! With the collaboration of the Ministry for the Family and Social Solidarity, the Foundation for Social Welfare Services and the Housing Authority, APS is launching the ‘Social Loan - Home Acquisition and Contents Plan'. This initiative was introduced by the Anti-Poverty Forum late in 2016, aiming to give low income earners the opportunity of becoming home owners.

The loan applies to individuals in full-time employment aged between 18 and 65 years, who are either part of a family with low joint earnings, single parents, single persons with a low gross monthly income or individuals with a permanent disability who live alone. Also, to applicants who are on the Housing Authority's waiting list for alternative accommodation and who are gainfully employed will be given preference. 

Priced at a reduced interest rate, the loan will provide successful applicants with up to 100% financing for amounts not exceeding €100,000 and will not require saving up for a front contribution. A portion of the amount borrowed may be used for furniture, furnishings and domestic appliances. Furthermore, most of the fees typically chargeable in a home loan application will be either waived by the Bank or absorbed by the Housing Authority. The Foundation for Social Welfare Services will be responsible for recommending applicants to APS Bank.

Interested applicants are to send an email on customer.care.ha@ha.gov.mt or call the Housing Authority on 8007 2232.

Marc H. Schembri
Written By

Marc H. Schembri