Are you looking for the Best Italian Mortgage, if so, then our Partner can help arrange Italian mortgages for the purchase of Italian property.
Italian mortgages are available at a loan to value (LTV) rate of up to a maximum of 60%, this will depend on;
1. the property location,
2. the property condition
3. the borrowers financial profile,
There is a minimum mortgage amount of €70 000 (property purchase price should be greater than €118 000).
Properties should be in a ‘habitable’ condition to be able to proceed with an Italian mortgage, this means they;
1. should have working kitchens
2. a working bathrooms, and,
3. be connected to the utilities.
There is a mortgage arrangement fee of €299 at the stage of passing your application over to the Italian banking partners.
Mortgage Key Points
Our Italian Mortgage partner will work with you in English, but most Italian banks will require you to complete their Italian mortgage application in Italian. Some Italian banks may also require you to submit all supporting documents with a certified translation into Italian.
Your Italian Mortgage application will be processed in Italy by an Italian bank.
Legal fees and property transaction taxes cannot be included in Italian mortgages for non-resident.
Most Italian banks will offer a maximum loan to value (LTV) ratio of 60% for non residents.
Italian banks will require you to have a strong net asset position in order to qualify for an Italian mortgage.
Italian banks will expect you to have a low personal debt to income (DTI) ratio and a secure source of income. Generally this DTI is in the region of 30%. So all of your outgoings, including the new Italian mortgage repayments, existing mortgage payments, rental payments, loans and credit card payments should be lower than 30% of your income.
Italian banks will currently only accept applicants with an income is paid in British Pounds, Euros, Swiss Francs and US Dollars.
We will not be able to process any applications that do not fit the requirements above.Powered by weForms