enczsk

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.

 


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