Lombard Bank has announced it will be assisting home-loan customers who are facing difficulty making their home-loan repayments as a result of the massive COVID-19 pandemic.

Malta has registered 107 cases of the virus, while businesses have been left out of pocket due to official advice to stay indoors, travel bans, and the mandatory closure of non-essential retail outlets and businesses providing non-essential services.

As a result, business owners and workers alike, especially those coming from the worst impacted industries, have voiced serious concerns about their ability to meet financial commitments.

Amid this environment, Lombard Bank has announced it will be granting a staggering 12-month moratorium on 80 per cent of monthly home-loan repayments for its clients impacted by the pandemic.

In a press release issued on Monday, Lombard Bank also said no fees will be charged but conditions may apply.

Customers who wish to avail themselves of this moratorium are invited to email: [email protected] and we will get back to you.

This follows the Government announcement of a €1.8 billion aid package aimed to help businesses – including allocations for funds allowing banks to provide companies with three-month loan holidays – as well as HSBC’s announcement it would be providing a three-month moratorium on personal capital repayments.