Three Housing Authority schemes which lead to people becoming home owners will be strengthened through the signing of a collaboration agreement with APS Bank, the government said.

The three schemes are: the 10% Deposit Scheme, the Equity Sharing Scheme, and the Social Loan Scheme. This cooperation with APS Bank has allowed 500 people to become homeowners, it said.

During this signing, Social Accommodation Minister Roderick Galdes said that APS Bank acts as a strategic partner to the government in the housing sector and that together, they "are assisting hundreds of families to climb the property ladder".

Minister Galdes also remarked that this holistic policy is boosting social justice across a wide range of society. Furthermore, he said that since the implemented policy and measures within the accommodation sector are derived from social dialogue between people, entities, and policymakers, this policy sector is achieving positive results.

Matthew Zerafa - the CEO of the Housing Authority - explained how his entity's mission has evolved to contribute towards promoting affordable housing.

Relating to the housing schemes referenced earlier, Zerafa commented that they are continuing to strengthen these schemes with local banks like APS, citing that "we must continue to combine innovation with social justice and come up with solutions that leave a positive impact on Maltese society."

The Chief Executive Officer of APS Bank, Marcel Cassar, was also present and described his and APS Bank's positivity in strengthening its collaboration with the Housing Authority, the Foundation for Social Welfare Services (FSWS), and the government through the Ministry for Social and Affordable Accommodation.

Cassar concluded that "the renewal of our agreement is the culmination of what we believe in as a bank - to serve the community with products and services that make a difference, such as the purchase of one's first home which is often the largest and most important decision made in many people's lives."