Interest-subsidy scheme for first-time buyers purchasing from private sector in Malta

The government has announced a limited one-year interest subsidy scheme for first time buyers wishing to purchase a house from the private sector. The scheme was announced by Justice Minister Chris Said and will be open for the first 300 applications.

They will benefit from an interest subsidy of up to 2.5% on borrowing from the banks of up to €80,000. The savings could reach €14,500. Dr Said said the subsidy would be given for a period of between eight and ten years. The scheme would be administered by the Housing Authority.

Source: The Times of Malta online