Bank of Valletta will approve mainstream home loan applications filed at its new home finance hubs within 10 days, the bank pledged according to the Times of Malta.
Home Finance Hubs are specialist centres, and BOV CEO Kenneth Farrugia said they bring together both front and back-office staff under one roof which enables the bank to work on approving loans at a quicker pace.
He told the Times that numbers show they can turn around a sanction letter, which is an official bank document confirming that a home loan for a prospective buyer was approved, in two or three working days.
Chief Personal and Wealth Officer Simon Azzopardi told the Times that the timeframes are applicable to mainstream home loans, giving the example of first-time buyers, but that more complex loans involving, for instance, buyers using proceeds from a separate property sale, could take longer than that.
‘Value of on-the-spot fines is in preventing offences’ – MHRA welcomes cannabis fines news
Visible police presence, immediate action and prompt response when assistance is requested are essential, he said
Which Maltese sectors are most reliant on TCN workers?
Almost 90 per cent of domestic workers are third country nationals
Gozo tourism survey finds stable summer, with electricity outages and costs major concerns
Revenue generated during the summer period was rated as average by 47.69% of respondents