5 myths about buying a home in Malta which aren’t true

Sep 1 2021

Buying a home seems like one of the most intimidating tasks of adulthood and in between filing paperwork, managing finances and finding the right home, it’s easy to hesitate in the face of such obstacles… but it doesn’t have to be. First-time buyers and return property-seekers will rejoice at the fact that securing a home loan is as easy as ever and MeDirect are here to make sure of that.

Malta’s first digital bank does not only offer super competitive rates and minimised costs, but peace of mind with the fact that the bank’s professional advisors will be with you ever step of the way. When purchasing a property, having the right mindset is half the battle and that’s why you should know about these 5 myths about buying a home in Malta which aren’t true:

Myth #1: It’s complicated ❌

MeDirect’s straight-to-the-point plans and tailor-made digital service mean that you won’t get lost in the details. The bank allows you to submit your documentation via email and the MeDirect mobile app gives you access to your accounts anytime and everywhere.

If that wasn’t enough, home loan advisors are always just a call away to make sure that your questions are always answered.

Myth #2: The process will take ages ❌

MeDirect are there to help you every step of the way. Bank representatives will get back to you as quickly as possible to answer any queries you may have and even your sanction letter will be approved within a matter of weeks! That’s why securing a loan has never been so easy.

You can even plan ahead of time and estimate your loan repayments and maximum loan amount with the MeDirect handy home loan calculator which is freely available on their website.

Myth #3: You’ll drown in extra fees ❌

Rest assured that extra fees are the least of your worries when getting your home loan. MeDirect is very transparent and are not charging any processing fees or bank legal fees. On top of that MeDirect are also giving a partial refund of the notarial costs incurred.

Taking your mind off so many hidden costs and fees will allow you to focus on more important issues and allows you to think critically when approaching your loan and ultimately, your home.

Myth #4: The interest rates are a killer ❌

Interest rates can be complex and at times, it may be challenging to calculate the true cost of your home loan.

Thankfully MeDirect’s rates are straightforward – one can either opt for a Fixed Rate (for the first 3 years starting from the contract date) at a negotiable 1.75% interest rate with a variable rate of 2.85% thereafter or else go for Variable Rate only which is in the range of 2.65% to 2.75% depending on the loan requested compared to the property’s value.

Myth #5: Planning will consume all of your time ❌

With MeDirect being Malta’s first digital bank, time consuming tasks like the calculation of loans, access & submission of documentation, as well as, any consultation meetings can be conducted online. In addition to saving a lot of your time and hassle, the bank’s quick response time will ensure a steady communication and an efficient experience.

See? Approaching a home loan doesn’t have to be the most difficult thing in the world, and when you are working with professional advisors who are available to assist at any time, buying a home could be much easier than you think.

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Whether you want to buy your first home, refinance your current property or acquire a second residence, we’re here to…

Posted by MeDirect Bank Malta on Monday, 9 August 2021

MeDirect Bank (Malta) plc, company registration number C34125, is licensed to undertake the business of banking in terms of the Banking Act (Cap. 371) and investment services under the Investment Services Act (Cap. 370). MeDirect Bank (Malta) plc is regulated by the Malta Financial Services Authority as a Credit Institution under the Banking Act 1994. Applications are subject to the Bank’s lending criteria. Terms and conditions apply and are available on request.

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Humanitarian initiative delivers pillows and sleeping bags to Lithuania

Sep 1 2021

The Civil Protection Department has travelled and donated a collection of pillows and sleeping bags to Lithuania as part of a humanitarian aid project. This was the fourth donation done by the department in the past few months as earlier this year, face shields were donated to Nepal, antigen tests to Tunisia and a number of COVID-19 vaccine doses and antigen tests to Libya.

The donation of sleeping bags and pillows arrived in Lithuania last Tuesday through a special and direct flight organised specifically for this aim. This voyage was done with the full support of the Ministry for Home Affairs, National Security and Law Enforcement and the Ministry for Foreign Affairs. The Malta International Airport and AirMalta also aided and supported this voyage.

The initiative was done through the collaboration of the EU mechanism DG ECHO and ERCC (Emergency Response Coordination Centre). The donation cost amounted to over €57,000, of which €25,000 will be paid through the aforementioned mechanism.

The General Director of the Civil Protection Department Emanuel Psaila sated that the department invested more than €800,000 just last year for apparatus and other equipment to aid in humanitarian initiatives. This also serves as a backup in case any humanitarian crises hit any country. He encouraged more humanitarian work to occur in order to seal connections of this type between various countries.

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Photo Source: Civil Protection Department Communications

Characteristics of a manipulator | by Ed’s Common Sense

Sep 1 2021

They always get what they want with minimal effort and at a great price to others.

They are constantly able to reinvent themselves as long as others do the dirty work.

They spend a lot of their time making sure their needs are met.

They love to control others as long as no one tries to control them.

They will never do you a favour unless there is some personal secondary gain for them.

They are extremely good talkers and persuasive in nature.

They meticulously study what other people’s weakness are so that they can take full advantage of them.

They can be very dramatic and expect others to be at their beck and call.

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Global coffee supply under threat as Vietnam enters lockdown

Sep 1 2021

We might have some bad news for coffee lovers out there. Concerns over the global coffee supply are growing as Vietnam imposed tough COVID-19 travel restrictions to tackle the aggressive spread of the Delta variant. Vietnam is the second biggest exporter of coffee, with supply chains now being disrupted due to the health measures in the country. Lockdown measures have impacted the port of Ho Chi Minh City as well as coffee-growing areas of the Central Highlands.

The Vietnam Coffee-Cocoa Association urged the government to ease the restrictions as traders struggled to transport beans to ports for export. Despite having managed to contain the spread last year through rigorous contact tracing and lockdowns, the south-east Asian country’s economic growth has been threatened by its inability to do the same with the Delta variant. The total caseload for Vietnam rose to 445,292, which is up from the measly 1,500 infections during all of 2020.

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Photo Source: Gardenia Pharmacy, Wego Travel Blog