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FIRST TIME PROPERTY BUYERS ON THE INCREASE	09/12/2009



If one had to look at the current property market scenario one can confirm that the market is slowly picking up with a strong demand from first time buyers. This was confirmed by Bank of Valletta’s Head of Home Loans Edward Grech during an information seminar held recently by Frank Salt Real Estate for its team of consultants and branch managers. During the meeting, Frank Salt’s consultants and branch managers had the opportunity to discuss the current market trends and general customer queries with BOV’s top home loans representatives and Bank managers. The existing BOV home loan schemes and the new package now available to Frank Salt Real Estate customers throughout its 10 branches in Malta and Gozo were discussed. Through this new Home Loan Package, property buyers will benefit from a number of advantages. These include BOV’s favourable home loan interest rates, as well as other benefits such as i) no processing fees, ii) a 50% discount on Fixed Interest Rate booking, iii) no processing fees should the customer take up a Budget account of up to €1,000, as well as a 50% discount on processing fees on personal loans. Bank of Valletta and Frank Salt Real Estate have always sought to offer home buyers the best possible financing package, as well as a smooth and efficient process. This collaboration between BOV and Frank Salt will provide customers with all the information required about home loans as well as the best possible deal for clients. In addition to this new package, Frank Salt Real Estate customers can also benefit from BOV’s other favourable home loan packages targeting first time buyers, buy-to-let loans and second time buyers. “2009 has been a very challenging year for the real estate business in Malta”. said Joseph Lupi, Managing Director for Frank Salt Real Estate. “However I can now confirm that the worst is over and demand for property is picking up. And this is no surprise, given that never before had we had such a vast choice of value properties on the market, complemented by the lowest home loan interest rates ever.” “This has not only given a great advantage to property buyers” added Mr Grech, “but has also opened new opportunities for those who saw the potential of investing in property, such as through buy-to-lets." For more information on this press release one may contact the Marketing Division at Frank Salt Real Estate on telephone 23 794 794 or by email at fs@franksalt.com.mt. All BOV loans are subject to normal bank lending criteria and final approval from your BOV branch. Tems & conditions apply.

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