Are you looking to make the most of the value of your property? A home equity loan from MeDirect Bank could be the perfect solution for you. By tapping into the equity you have built up in your home, you can access funds for a variety of needs, from consolidating debt to major purchases.#
What is Home Equity?
Home equity is the difference between the market value of your home and the outstanding balance on your mortgage. As you pay down your mortgage and if the value of your property increases, your equity grows. This equity can be a valuable resource, allowing you to borrow against it to fund significant expenses.
How Does a Home Equity Loan Work?
A home equity loan allows you to borrow money using your home as collateral. For example, if your property is worth €500,000 and you still owe €300,000, you have €200,000 in equity. MeDirect considers your gross income, monthly commitments, and the available equity to determine the loan amount you can access.
Why Choose MeDirect for Your Home Equity Loan?
- Interest Rates: MeDirect offers competitive interest rates, making your loan more affordable.
- Quick Response Time: Our efficient process ensures you get the funds you need without unnecessary delays.
- Digital Tailor-Made Service: Our digital services are designed to suit your specific needs, providing a seamless experience.
- No early repayment fees: allowing you to pay off the loan faster if desired.
Uses of a Home Equity Loan
The funds from a home equity loan can be used for various purposes, such as:
- Financing a property or holiday home overseas
- Purchasing a car or boat
- Funding education or a significant event like a wedding
Important Information
To be eligible for a MeDirect home equity loan, you must be at least 18 years old and own the property being used as collateral. Repayments may be spread out over a period of 25 years, or until you reach retirement age. Additionally, applicants must have been working and living in Malta for at least 18 months.
Get Started Today
Unlock the value of your property with a MeDirect home equity loan. For more information or to start your application, visit our Home Equity Loans page or contact our team of professionals who are ready to assist you.
MeDirect Bank (Malta) plc, company registration number C34125, 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. Your residential immovable property may be repossessed if you do not keep up with repayments on a mortgage or any other debt secured on it. Think carefully before securing other debts against your residential immovable property. Terms and conditions apply and are available on request.
MeDirect Bank (Malta) plc, The Centre, Tigné Point, Sliema, TPO 0001, Malta.
