APS Bank announced enhancements to the Equity Sharing Scheme, in collaboration with the Housing Authority and the Government. The update follows a joint review aimed at ensuring the scheme remains effective in addressing current housing affordability challenges and evolving customer needs.
As part of the latest enhancements, eligibility for the Equity Sharing Scheme will be extended to individuals aged 25 and over, broadening access to younger applicants, while the maximum eligible property value will increase from €250,000 to €350,000 in certain cases. Launched in 2019, the scheme supports individuals and families in purchasing their first home by allowing a portion of the property cost to be co-funded by the Housing Authority, reducing the amount that needs to be financed through a home loan and making ownership more accessible.
Since its inception, the scheme has supported a significant number of families in achieving home ownership, underlining its social impact and continued relevance.
APS Bank Product Portfolio Manager Denise Azzopardi said: “The Equity Sharing Scheme continues to play an important role in helping first-time buyers turn their plans into reality. These enhancements will make it easier for more people to access the support they need, especially at a time when affordability remains a key concern, enabling more individuals and families to take a confident step towards owning their home.”
For more information, visit apsbank.com.mt/home-loan-packages/#social-schemes.
