Time to say hello to your first home
Buying your first home doesn't have to be confusing.
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Great! You’ve decided it’s time to buy your first home. Now you know you want to get onto the property ladder it’s time to find a home loan that works around your needs, your budget and your lifestyle. We offer two types of home loans for first time buyers.
Variable Interest Rate Home Loan
A variable interest rate means that the rate of the interest charged on the outstanding balance of your home loan can fluctuate both up and down. It is based on an underlying benchmark or index that may change from time to time. When interest rates in the market go down, you would benefit from a lower rate, meaning your repayments will decrease as well. On the other hand when the interest rates rise, so too would your repayments.
| Variable Rate |
2.7% for the entire term of the loan |
| Loan Term |
Retirement age up to a maximum of 40 years. |
| Deposit Required |
10% of the total cost of the property. |
| Fees |
No initial fees No initial processing fees or bank charges. |
| External Fees |
Absorb the cost of your legal and notary fees into your home loan account. |
| Downloads | |
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View a detailed representative example of a variable rate loan scenario which includes information on the Annual Percentage Rate of Charge (APRC). View detailed information on all bank fees. |
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Download product brochureFixed Interest Rate Home Loan
Our fixed interest rate loan offers you a set rate for the first 3 years of your home loan, then followed by a variable rate. This is very popular for first time buyers as you can benefit from knowing the exact amount of your repayments for the early years of your mortgage. Following this your home loan will switch to a variable rate where you can still enjoy lower rates if the market rates are favourable.
| Fixed Rate |
1.7% for the first 3 years. This then switches to a variable rate of 2.85% composed of a Bank's Base Rate of 2.2% plus a margin of 0.65%. |
| Loan Term |
Retirement age up to a maximum of 40 years. |
| Deposit Required |
10% of the total cost of the property. |
| Fees |
No initial fees No initial processing fees or bank charges. |
| External Fees |
Absorb the cost of your legal and notary fees into your home loan account. |
| Downloads | |
|
View a detailed representative example of a fixed rate loan scenario which includes information on the Annual Percentage Rate of Charge (APRC). View detailed information on all bank fees. |
|
Variable Interest Rate Home Loan
A variable interest rate means that the rate of the interest charged on the outstanding balance of your home loan can fluctuate both up and down. It is based on an underlying benchmark or index that may change from time to time. When interest rates in the market go down, you would benefit from a lower rate, meaning your repayments will decrease as well. On the other hand when the interest rates rise, so too would your repayments.
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2.7% for the entire term of the loan |
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Retirement age or up to a maximum of 40 years. |
|
|
10% of the total cost of the property. |
|
|
No initial fees No initial processing fees or bank charges. |
|
|
Absorb the cost of your legal and notary fees into your home loan account. |
|
|
View a detailed representative example of a variable rate loan scenario which includes information on the Annual Percentage Rate of Charge (APRC). View detailed information on all bank fees. |
|
Fixed Interest Rate Home Loan
Our fixed interest rate loan offers you a set rate for the first 3 years of your home loan, then followed by a variable rate. This is very popular for first time buyers as you can benefit from knowing the exact amount of your repayments for the early years of your mortgage. Following this your home loan will switch to a variable rate where you can still enjoy lower rates if the market rates are favourable.
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1.7% for the first 3 years |
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Retirement age or up to a maximum of 40 years. |
|
|
10% of the total cost of the property. |
|
|
No initial fees No initial processing fees or bank charges. |
|
|
Absorb the cost of your architect’s and legal fees into your home loan account. |
|
|
View a detailed representative example of a fixed rate loan scenario which includes information on the Annual Percentage Rate of Charge (APRC). View detailed information on all bank fees. |
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Please note your request will be managed by Finance House plc, Izola Bank plc's tied credit intermediary. All applications are treated in the strictest confidence and handled by a team of specially trained home loan professionals. View our Privacy Policy.
Izola Bank is licensed and regulated by the MFSA (Malta Financial Services Authority).
Try this quick home loans calculator to determine the amount of financing that could be available to you.
Kindly note that in order to apply for home loan with Izola Bank, you must have been residing in Malta for at least 5 years.
You must be 18 years of age or older to apply. Retirement age is considered to be 65 years old.
This Home Loan calculation is illustrating the Home Loan amount you may borrow and this is not an offer by Izola Bank, but merely an indication of your Home Loan entitlement based on your information provided. The official sanctioning of the Home Loan would be subject to the credit assessment in line with Bank’s internal lending criteria.
Refinance your home loan
Your new home loan could save you money or help you to accomplish other financial goals.Our refinancing home loan package is ideal for existing homeowners who would like a new loan to replace their current loan. It’s ideal for people who might like to obtain a lower interest rate thus reducing the home loan monthly repayments and possibly saving hundreds or thousands from interest. This can also help you refurbish and renovate your home.
| Interest Rate |
Choose a Fixed or Variable Rate. |
| Amount Financed |
Up to 100% of your remaining loan amount. So long as this does not exceed 90% of the market value of your property. |
| Loan Term |
Retirement age up to a maximum of 40 years. |
| Deposit Required |
None. |
| Fees |
No fees - No processing fees or bank charges. |
| Downloads |
|
Refinance your home loan
Your new home loan could save you money or help you to accomplish other financial goals.Our refinancing home loan package is ideal for existing homeowners who would like a new loan to replace their current loan. It’s ideal for people who might like to obtain a lower interest rate thus reducing the home loan monthly repayments and possibly saving hundreds or thousands from interest. This can also help you refurbish and renovate your home.
| Interest Rate |
Choose a Fixed or Variable Rate. |
| Amount Financed |
Up to 100% of your remaining loan amount. So long as this does not exceed 90% of the market value of your property. |
| Loan Term |
Retirement age or up to a maximum of 40 years. |
| Deposit Required |
None. |
| Fees | |
|
No fees - No processing fees or bank charges. |
|
| Downloads | |
View a detailed representative example of a refinancing loan scenario with information on the Annual Percentage Rate of Charge (APRC).
View detailed information on all bank fees.
View a detailed representative example of a refinancing loan scenario with information on the Annual Percentage Rate of Charge (APRC).
View detailed information on all bank fees.
Get a quote.
Would you like an indication of the home loan we can offer you?
Fill in this short form and we'll come back to you with your quotation via email in the coming days.
Here to support your home loans needs.
Izola Bank is a family owned bank in successful operation for over 27 years. Our experienced team understand that buying your first home is a big step in life. That’s why we work together with you, guiding you on your journey to becoming a homeowner.
Access a handy checklist of the information and documentation you need to apply for your home loan.
Are you ready to take the next step?
We're here to help!
Our staff will guide you to a home-loan that’s tailored for your needs.
Are you ready to take the next step?
We're here to help!
Our staff will guide you to a home-loan that’s tailored for your needs.
Still have questions? We have the answers.
Visit our Help Centre for more information on our Home Loans products
Still have questions?
We have the answers.
Visit our Help Centre for more information on our Home Loans products
Company Reg: C 16343
VAT No: MT 13175712
Swift BIC: IZOLMTMT