PostaHomeLoan

PostaHomeLoan is a home loan service run for customers of MaltaPost by Lombard Bank Malta p.l.c. It is aimed at people who want to buy, build or refurbish a home in Malta and would rather arrange their borrowing with a bank representative at a post office than in a traditional branch. It is listed among our mortgage advisors in Malta, and the entry is placed in Valletta, where the bank has its registered office.

For a UK reader, the most useful way to think of it is as a mortgage product sold through a high street channel: the lender is the bank, while the post office network provides the places to meet. The site's tagline is that dreams do come true.

What the loan offers

The headline feature is borrowing of up to 90 per cent of the property price. Typically the buyer funds part of the cost, which helps you work out the range of property values or building and refurbishment budgets to consider. Interest rates are described as competitive and flexible, with a choice between variable rates and fixed rate terms for those who want to budget ahead, along with various flexible repayment programmes.

Other benefits include discounts on fees payable, the option to add fees to the loan and repay them with the instalments, and a discount on membership fees for Lombard Bank Visa and MasterCard Classic credit cards. A loan calculator on the website gives an indication of repayments, though results may vary slightly. For the wider market, our overview of financial services in Malta explains how banks and lenders fit together.

How to apply

There are two routes. You can book an appointment online and arrange to see a Lombard Bank official, or you can choose to meet a representative at your nearest post office. The booking form asks for your name, email and phone number, and whether you are a first-time buyer.

When you meet the official you should bring an identity document, evidence of income and the relevant promise of sale agreement, which is the preliminary contract signed when a Maltese property purchase is agreed. Other documents may be requested. The booking form asks whether you are a first-time buyer, so say if this is your first purchase, and have a rough idea of the property type, location and budget before the meeting. Because you will be meeting a bank official rather than an independent broker, it makes sense to ask about the products the bank itself offers, how the fees are calculated and what happens if you want to change your repayments. Allow time to read the offer in full and to take your own professional advice if you wish. This is guidance on what to take, not advice on whether to borrow, and you should read the loan terms carefully before signing.

Moving to Malta and buying a home

British buyers often combine a property purchase with a move. Our Malta relocation guide and the tax guide for UK nationals cover the practical and tax side, while an accountant such as 3a Malta or Accurit Accountancy can help with your paperwork. Companies buying property may want to start with CLA Malta and the corporate tax structure guide.

Valletta itself is worth a visit while you arrange finance: see our Valletta guide, the Upper Barrakka Gardens for harbour views and hotels in Valletta if you want to stay in the capital.

Regulation and contact

Lombard Bank Malta p.l.c. is listed on the Malta Stock Exchange and is licensed and regulated by the Malta Financial Services Authority as a credit institution and as an investment service provider. Use the VisitMalta.co.uk enquiry form on this page and we will pass your message to PostaHomeLoan.