Foundation For Affordable Housing and APS Launch LoanUP

Mar 28 2024

The Foundation for Affordable Housing, in partnership with APS Bank announces the launch of its inaugural product, LoanUP. Designed to address the pressing need for accessible homeownership solutions, LoanUP offers unprecedented borrowing rates tailored to empower young individuals and families to achieve their dream of owning a home.

LoanUP boasts a remarkable 7-year fixed rate of 1.95% for Tier 1 applicants, providing a mortgage value increase of up to 15%. Tier 2 applicants will also benefit from competitive rates and an increased loan value. This innovative product aims to break down barriers to homeownership by offering preferential terms to those who need it most.

The product is available to gainfully occupied individuals under 30 years old with incomes not exceeding €30,000, with limited assets, with preferential terms offered to applicants with lower incomes, dependents, and shorter loan terms. The Foundation for Affordable Housing CEO Dr Jake Azzopardi said that the Foundation’s mission is rooted in social innovation, bridging the gap between social impact and financial value.

“LoanUP embodies this ethos by granting much-needed access to homeownership for young individuals and families, fostering social and financial freedom,” said Dr Azzopardi. This launch marks a significant milestone for the Foundation for Affordable Housing still in its first year of operation. With a dedicated €1 million fund allocated to support this initiative’s first cycle, the Foundation is committed to diligent administration and ensuring the success of LoanUP eyeing a leverage of around €65 million in loan value.

An Investment Committee, comprising industry experts, will oversee the execution of this product and the organization’s continued growth. LoanUP represents the first step in a long journey towards empowering individuals and families to attain homeownership and realize their life goals. The Foundation for Affordable Housing remains steadfast in its commitment to driving positive social change and creating lasting impact in communities. For more information about LoanUP and the Foundation for Affordable Housing, visit www.affordablehousing.mt

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All Parliamentary Members Agree On New President

Mar 28 2024

In a historic move, Malta’s Parliament unanimously approved notary Myriam Spiteri Debono as the nation’s next President during a plenary sitting on Wednesday evening.

Spiteri Debono, who previously served as Malta’s first female Speaker during the Alfred Sant administration from 1996 to 1998, garnered support from both government and opposition benches.

She is set to be sworn in as the 11th President of Malta on Thursday, April 4, succeeding George Vella. All 75 Members of Parliament present voted in favor of her appointment.

Prime Minister Robert Abela hailed the occasion as a significant milestone, noting that it marked the first utilization of a constitutional reform implemented in 2020.

This reform mandates that the President of the Republic be approved by a two-thirds majority of Parliament, ensuring cross-party consensus. Abela emphasized the importance of modernizing and revitalizing the democratic process in Malta through this reform.

Opposition leader Bernard Grech praised Spiteri Debono’s qualities, citing her integrity, precision, and dedication.

He expressed gratitude for the collaborative discussions held to determine Vella’s successor, highlighting that the effectiveness of any reform or legal amendment depends on the individuals responsible for its implementation.

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Over 2,500 Qala Residents To Benefit From New Community Clinic

Mar 28 2024

Health Minister Jo Etienne Abela and Gozo Minister Clint Camilleri collaborated in the unveiling of a pioneering community clinic in Qala, Gozo.

This facility offers an extensive array of services, including family medicine, speech therapy, physiotherapy, podiatry, and eye screenings—marking a significant milestone for Gozo.

The clinic’s primary objective is to ensure continuity of care by facilitating services from the same healthcare professionals.

Partial funding from the National Development and Social Fund (NDSF) has enabled the clinic to cater to over 2,500 residents of Qala and its environs.

Minister Abela emphasized the clinic’s role in centralizing patient care within primary health centers, leveraging the Electronic Patient Record system to improve accessibility to professional services. He reiterated the government’s dedication to strengthening primary care services.

Minister Camilleri stressed the clinic’s importance in meeting the healthcare needs of Gozitans, especially following the recent openings in Għarb and Victoria. The clinic pledges modern facilities for patients and enhanced resources for medical professionals, embodying a broader initiative aimed at elevating healthcare infrastructure and services throughout Gozo.

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Sarah Bonnici & Maxine Pace Awarded By Prime Minister

Mar 28 2024

Winners of the Malta Eurovision Song Contest and Mużika Mużika Sarah Bonnici and Maxine Pace respectively were awarded by Prime Minister Robert Abela.

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The Prime Minister acknowledged the talent residing on the island, congratulating the two women on their achievements and for their future endeavours.

Bonnici will be representing Malta at the Eurovision Song Contest in Sweden this May with her song LOOP. On her part, Maxine won the 2024 edition of Mużika Mużika with her song ‘Mhux Tal-Aħħar.’

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