Italiano
Unusually for Italy, the association pleased to offer a comprehensive mortgage advice and assistance service. By developing close and extensive links with local banks and lending institutions, the association will assist you in obtaining a mortgage, allowing you to buy and develop your dream Italian home.
The Service – The Association will advise on
- The Association will advise on all aspects relating to obtaining a mortgage in Italy
- Explain the differences between mortgages and types available
- Advise and arrange appointment(s) with the local bank or financial institution that will be best able to assist you.
- Be with you throughout your preliminary conversation with the local bank or financial institution.
- Mediate and assist whenever needed.
- Liaise on your behalf with the bank or financial institution throughout the process (regretfully the association cannot assist, other than offering advice, with mortgages arranged with internet banks or any main international banks operating outside the association’s area)
Mortgage Facility Guidelines
To obtain a mortgage in Italy, full status and proof of income and outgoings will be required. Italian mortgages can be arranged for:
- The acquisition of a property
- For renovation of a property or for the construction of a new property.
Depending on the property transaction it is often possible to arrange a mortgage amounting to 100% of the purchase price. However, generally a deposit of 15% of the purchase price is required. In all cases, you will also be liable for the solicitor’s (Notaio’s) and the survey fees.
Mortgages are generally
- Repayment: These can be taken over a 5 – 25 year term
- Interest Only: Some mortgage lenders will be happy to provide loans as interest only, though these are rare.
All mortgages should be fully repaid by the age of 70 and life cover is required. The mortgage is secured on the property in Italy.
Please Note: All mortgage lenders assess the eligibility for a mortgage on the applicant’s ability to service the loan and not on the potential rental income from the property.
The above data is to be treated as a guideline only and is subject to the normal rules and regulations applicable to the appropriate financial institution, ability to meet monthly repayments etc