Financing

Usual conditions for getting a mortgage:

• mortgage amount must not exceed 80% of the property value
• minimum amount of Italian mortgages is 150.000 Euro
• maturity of 5-30 years, minimum age 18 years, maximum age 75 years
• interest rate is usually between 8-10%
• must be used for the purchase of real estate, including the renovation
• certain restrictions for a mortgage in Italy relate e.g. on objects under construction or objects in the planning stages
• the purchased property is used as security.

Documentation required by the lender:

• proof of identity and residence
• proof of income and expenses (last 3 months)
• bank statements
• documents the object of purchase.

To obtain a mortgage in Italy, it is important to have a tax number (Codice Fiscale). You can apply for it at the Italian Embassy or we will help you during your stay in Italy.

The cost of establishing the Italian mortgage:

• bank fee for arranging mortgages: typically 0.4% -0.7% of the loan amount (deducted from the loan amount)
• bank costs of completion: typically 100-160 Euro (deducted from the loan amount)
• property valuation fee, 200-250 Euro (payable directly appraisers).

The Bank assesses each loan application individually and in its sole discretion reserves the right to request additional documents.