Grants on Loan Repayments

Overview

The aim of the Housing Authority is to offer assistance to those applicants that wish to purchase their first residence from the private sector.   By means of this scheme the Authority is paying a grant up to a maximum of 30% of the annual loan payments given by a financial institution to the applicant and which does not exceed the amount of €850 per year.  This grant will be given for a period of 10 years. 

Who can apply

This scheme is open to married applicants, engaged coupes, single parents, separated persons and single persons.  On the date of application the applicants must be over 21 years old. However in case of single persons these must be over 24 years old and in case of disabled applicants or those that lived in an institute /children’s home / were fostered they must be over 18 years old.

This scheme is open for those applicants purchasing their first property, that have signed a preliminary agreement after the 1st of October 2008.

The applicants will receive assistance under this scheme according to the category they fall under as indicated in the table below:

The applicant can benefit under this scheme if the value of the finished property to be purchased, does not exceed the amount indicated below according to the applicable category.  Under this scheme the applicant can benefit from a maximum grant per annum as indicated:

Qualifications Required

(a)     be gainfully employed for at least a year prior to the date of application, in case of applicants who are single and at least one of the applicants in case of engaged couples/married couples;

(b)     the applicant or in case of married couples one of the applicants be a Maltese Citizens or Citizens of the EU.

(c)     have been permanently residing in Malta for at least 4 years in the previous 5 years;

(d)    have never benefited from a premises issued for sale by this Authority by means of a Legal Notice or any assistance under what used to be known as 'Home Ownership Scheme', from a repair scheme of of subsidy on interest from a scheme, 'Right to Buy' or a scheme which encourages tenants to become owner occupiers; by the Department of Social Housing, Lands Department or other parastatal bodies and local Authorities for the encouragement of home ownership.

(d)

(e)     have an annual gross income of the preceding year of application that falls under the parameters according to the relative categories as indicated in the table below:

(f)      from three years prior the date of application does not possess capital assets that exceed the amount indicated below according to the relative category;