BOV completes Home Finance Hub rollout with Fgura and Qormi openings

Bank of Valletta has completed its four-centre Home Finance Hub network with the opening of its Fgura and Ħal Qormi locations, targeting a ten-day turnaround for mortgage sanction.

The model brings specialist support together from the initial enquiry through to the bank’s lending decision. BOV says this should reduce internal handovers and improve communication with customers.

Chief executive Kenneth Farrugia said dedicated personnel and clearer processes were intended to make home financing more efficient and reassuring.

“We are targeting a ten-day turnaround to sanction,” he said in the bank’s announcement.

The figure is a service target. Sanction concerns approval of the lending application; it is separate from the subsequent legal, contractual and drawdown stages involved in completing a property purchase.

Chief Personal and Wealth Officer Simon Azzopardi said feedback from the hubs opened earlier in the year had been positive, with customers welcoming the more focused support.

Chairperson Gordon Cordina described the network as an investment in meeting households’ home-finance needs. He also highlighted the importance of residential property to Malta’s economy and BOV’s business.

The Fgura hub is located above the bank’s branch in Triq Hompesch. The Ħal Qormi centre operates from Triq San Bastjan, premises previously used for branch services during refurbishment work.

For borrowers, the intended benefit is a more direct route through the application process, with specialist staff responsible for explaining requirements and progressing decisions.

Its performance will ultimately be measured by the consistency of those turnaround times and the clarity customers receive throughout their applications.