When buying property in Italy and would like to finance your new Italian property we are able to offer you a tailor made mortgage. Below you will find a summary of details related to Italian mortgages.

 Service

• The Italian mortgage service is offered through our partner Baydonhill International Mortgages; an independent broker with a team of consultants on-hand to provide you with a consultative, personal approach when sourcing a mortgage solution best suited to your individual requirements.
• Due to access to a variety of competitive and exclusive products reduced rates and margins are offered which are not available when approaching lenders directly.
• We work with a panel of lenders in Italy that provide us with dedicated underwriters who deliver a fast track service.
• Our bi-lingual consultants have an in-depth knowledge of their specialist areas and expertise to guide you through every step of the financing process, making it as dimple and stress-free as possible.

Our Products

• Italian mortgages for the purchase of new or existing properties.
• The property must be registered at the land registry as a habitable civil dwelling.
• Financing can be arranged for acquisition, renovation and construction.
• We can offer interest-only and repayment mortgages on a variable or fixed-rate basis or a combination of both.
• A minimum of 6 weeks should be allowed from application to a lender to completion.

Eligibility & Criteria

• All Italian mortgages are full status and proof of income will be required.
• Terms can be from 5 to 40 years.
• Italian lenders assess eligibility on the applicant’s capacity to repay the loan. Approximately one third of monthly income can be taken up with existing mortgage, loan repayments and the proposed Euro mortgage.
• No potential income from the property in Italy can be taken into consideration.

Acquisition Mortgages

• Max LTV is 80% of the purchase price.
• Variable mortgages are fixed for an initial period and then recalculated using the EURIBOR (European Interbank Offered Rate) plus a margin.
• Mortgage Products include:

Repayment:

• Variable rates from 4.20%.
• Fixed rates from 5.20%

Interest Only:

• Variable rates from 4.70%.

Renovation/Construction Mortgages

• Max LTV for renovation is 70% of the final property value or 80% of the work estimates. Funds will be released as work progresses.
• Max LTV for a construction mortgage is 70% of the final property value. The first payment will be released once 50% of the work has been completed (i.e. outside walls & roof finished).
• The lender will request surveyor’s reports at each stage.