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How Does a Home Equity Loan Work?
Let’s say that your property is worth €500,000 and you still owe €300,000 – that means you have up to €200,000 in equity.
Over time, as you continue paying your loan, and if the value of your home continues to increase on the market, your equity increases.
You may be able to use the equity in your home to obtain funding to purchase the car of your dreams or buy a boat, amongst other things.
The home equity loan is calculated by taking into consideration your gross income, any monthly commitments and the equity available on your property.
Why with MeDirect?
If you would like further information about the MeDirect Home Equity Loan please contact us by clicking on the ‘Request more information’ button.
A representative from our Home Loan team will contact you to discuss further.
Minimum eligible age is 18 years and pensionary age is assumed to be 65 years.
The documentation required to obtain a quote and/or to proceed with Home Equity Loan application can be found at the following link.
The Bank and its products are regulated by the Malta Financial Services Authority.