The Housing Finance System

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    A. Primary Housing Finance Market

    A.1 Industry Structure and Performance
    VariableEnd of 2015End of 2014End of 2013SourcesVar ID
    Types of originating lenders/market share:A.1.2
    Identify the 3 largest loan originating lendersBank of Valletta, HSBC Bank Malta, APS Bank  
    Research
    		A.1.3
    Level of Non-Performing Mortgage Loans (90 days or more past due):A.1.6
    as a % of # of loans8.6%9.7% A.1.6.1
    Average 1997-2007 A.1.7
    A.2 Size of Mortgage Finance Sector
    VariableEnd of 2015End of 2014End of 2013SourcesVar ID
    Total amount of home mortgage loans outstanding at the end of year in millions of USD:4,244.57 USD (millions)4,380.85 USD (millions)4,521.24 USD (millions)
    Central Bank of Malta
    		A.2.1
    Total amount of home mortgage loans outstanding at the end of year as % of GDP (current)43.48%41.4%44.96%A.2.1.1
    A.3 Housing Finance Products
    VariableEnd of 2015End of 2014End of 2013SourcesVar ID
    Mortgage products as % of all mortgages (approx.) in local currency:A.3.1
    Most prevalent type of foreign currency mortgage used:A.3.3
    Most frequent interest rates on fully amortizing:A.3.4
    Typical lender fees associated with mortgage origination: A.3.6
    Typical third party fees associated with mortgage origination:A.3.7
    Loan-to-Value (LTV) on first mortgage: A.3.8
    Maximum LTV100.0090.0090.00A.3.8.1
    Typical LTV at origination757575A.3.8.2
    Maximum term over which pmt is calculated? 50 years50 years40 yearsA.3.9
    Mortgage pmt-to-income ratio A.3.10
    Maximum pmt-to-income ratio (HH income) 30% A.3.10.1
    A.4 Lending and Servicing Process
    VariableEnd of 2015End of 2014End of 2013SourcesVar ID
    Which institutions define underwriting rules? A.4.2
    A.5 Credit Risk Assessment
    VariableEnd of 2015End of 2014End of 2013SourcesVar ID
    Do credit bureaus exist? Yes  A.5.2
    B. Funding Sources for Mortgages and the Secondary Mortgage Market
    VariableEnd of 2015End of 2014End of 2013SourcesVar ID
    What are the main funding sources for mortgages?B.1
    Retail funding (deposits/other)primaryprimaryprimaryB.1.1
    C. Housing Microfinance
    VariableEnd of 2015End of 2014End of 2013SourcesVar ID
    Types of lenders operating in the housing micro-finance (HMF) sector:C.2
    Level of NPLs (>90 days past due) in HMFC.4
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    Notes: "IFS Note: ""Weighted average of the rates charged by banks on loans with fixed interest rates and with own funds to individuals and corp. The rate is weighted by loan amounts."""
    Notes: "IFS Note: ""Weighted average of the rates charged by banks on loans with fixed interest rates and with own funds to individuals and corp. The rate is weighted by loan amounts."""
    Notes: "IFS Note: ""Weighted average of the rates charged by banks on loans with fixed interest rates and with own funds to individuals and corp. The rate is weighted by loan amounts."""
    Notes: "IFS Note: ""Weighted average of the rates charged by banks on loans with fixed interest rates and with own funds to individuals and corp. The rate is weighted by loan amounts."""
    Notes: "IFS Note: ""Weighted average of the rates charged by banks on loans with fixed interest rates and with own funds to individuals and corp. The rate is weighted by loan amounts."""
    Notes: 2010=100
    Notes: 2010=100
    Notes: 90% for a purchase under 600,000 euro, 80% for above 600,000 euro
    Notes: 90% for a purchase under 600,000 euro, 80% for above 600,000 euro
    Notes: 90% for a purchase under 600,000 euro, 80% for above 600,000 euro
    Notes: 90% for a purchase under 600,000 euro, 80% for above 600,000 euro
    Notes: A capital gains tax of 12% must be paid on the transfer of real property.
    Notes: Based on growth rate of 7.5% from the previous year by the IMF.
    Notes: Calculated using GDP (Current) data from WEO (IMF) and Mortgage data from Central Bank of Malta
    Notes: Calculated using GDP (Current) data from WEO (IMF) and Mortgage data from Central Bank of Malta
    Notes: Calculated using GDP (Current) data from WEO (IMF) and Mortgage data from Central Bank of Malta
    Notes: Calculated using GDP (Current) data from WEO (IMF) and Mortgage data from Central Bank of Malta
    Notes: Calculated using GDP (Current) data from WEO (IMF) and Mortgage data from Central Bank of Malta
    Notes: Calculated using GDP (Current) data from WEO (IMF) and Mortgage data from Central Bank of Malta
    Notes: Calculated using GDP (Current) data from WEO (IMF) and Mortgage data from Central Bank of Malta
    Notes: Calculated using GDP (Current) data from WEO (IMF) and Mortgage data from Central Bank of Malta
    Notes: Calculated using GDP (Current) data from WEO (IMF) and Mortgage data from Central Bank of Malta
    Notes: Figure is for national percentage. Data drawn from "Distribution of population by tenure status, type of household and income group Table (source: SILC) [ilc_lvho02]"
    Notes: Figure is for national percentage. Data drawn from "Distribution of population by tenure status, type of household and income group Table (source: SILC) [ilc_lvho02]"
    Notes: Figure is for national percentage. Data drawn from "Distribution of population by tenure status, type of household and income group Table (source: SILC) [ilc_lvho02]"
    Notes: Figure is for national percentage. Data drawn from "Distribution of population by tenure status, type of household and income group Table (source: SILC) [ilc_lvho02]"
    Notes: Figure is for national percentage. Data drawn from "Distribution of population by tenure status, type of household and income group Table (source: SILC) [ilc_lvho02]"
    Notes: Rental income is taxed at a rate of 15%
    Notes: Represents cumulative change of median house prices from 2011-2016 of 20%. Rate is constant across years so after 5 years the accumulation is 20%.
    Notes: Represents cumulative change of median house prices from 2011-2016 of 20%. Rate is constant across years so after 5 years the accumulation is 20%.
    Notes: Represents cumulative change of median house prices from 2011-2016 of 20%. Rate is constant across years so after 5 years the accumulation is 20%.
    Notes: Represents cumulative change of median house prices from 2011-2016 of 20%. Rate is constant across years so after 5 years the accumulation is 20%.
    Notes: Represents cumulative change of median house prices from 2011-2016 of 20%. Rate is constant across years so after 5 years the accumulation is 20%.
    Notes: Typically, the maximum LTV is 90%. However, HSBC Bank does make exceptions for first time buyers who don't have the 10% front contribution if extra security is provided.
    Notes: Typically, the maximum LTV is 90%. However, HSBC Bank does make exceptions for first time buyers who don't have the 10% front contribution if extra security is provided.
    Notes: Urban population refers to people living in urban areas as defined by national statistical offices. It is calculated using World Bank population estimates and urban ratios from the United Nations World Urbanization Prospects. World Bank’s World Development Indicators (WDI); rounded to the nearest tenth of one percent. In general, there is a lag of at least one year on this value in the WDI, but preliminary estimates are often available earlier.
    Notes: Urban population refers to people living in urban areas as defined by national statistical offices. It is calculated using World Bank population estimates and urban ratios from the United Nations World Urbanization Prospects. World Bank’s World Development Indicators (WDI); rounded to the nearest tenth of one percent. In general, there is a lag of at least one year on this value in the WDI, but preliminary estimates are often available earlier.
    Notes: Urban population refers to people living in urban areas as defined by national statistical offices. It is calculated using World Bank population estimates and urban ratios from the United Nations World Urbanization Prospects. World Bank’s World Development Indicators (WDI); rounded to the nearest tenth of one percent. In general, there is a lag of at least one year on this value in the WDI, but preliminary estimates are often available earlier.
    Notes: Urban population refers to people living in urban areas as defined by national statistical offices. It is calculated using World Bank population estimates and urban ratios from the United Nations World Urbanization Prospects. World Bank’s World Development Indicators (WDI); rounded to the nearest tenth of one percent. In general, there is a lag of at least one year on this value in the WDI, but preliminary estimates are often available earlier.
    Notes: Urban population refers to people living in urban areas as defined by national statistical offices. It is calculated using World Bank population estimates and urban ratios from the United Nations World Urbanization Prospects. World Bank’s World Development Indicators (WDI); rounded to the nearest tenth of one percent. In general, there is a lag of at least one year on this value in the WDI, but preliminary estimates are often available earlier.