Italian Mortgage Plans for Property in Italy.
We're a UK
based International mortgage broker specialising in helping
home buyers secure
Italian mortgage plans and property loans from the UK.
When it comes to securing an Italian mortgage plan we only
use specialist advisors who have direct access with Italian
Banks and property loan companies. We ensure our clients
receive expert advice and have access to the best
Italian mortgage plans to finance their home in Italy.
Italian Mortgages - Mortgages for
Property in Italy.
Mortgages for property in Italy are normally available for
up to 80 percent of the purchase price. This generally means
you’ll need to find a 20 percent deposit and be able to
prove your income. Self certification mortgages in Italy are
not normally available.
Italian Mortgages are available over 5-30 Years and lenders
will not normally take into account rental income when
calculating an applicants level of borrowing. Lending
criteria & rates vary between mortgage companies, please see
below for an indication of mortgage products currently
available.
Mortgage Checklist &
Decision in Principal.
To help you prepare for the mortgage application itself
we've put together a checklist of paperwork we'll need when we
submit your application to the lender, please follow the link
below. For a decision in principal please complete our
secure
e-form
and we'll get back to you
within 48hrs.
Overseas Mortgages are not regulated by the FSA or
arranged via Sesame Ltd.
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The Buying Process
in Italy. |
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| Lending criteria &
rates.
Please see the table below for
lending criteria and rates for mortgages in Italy.
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The Italian Buying Process.
The Buying process in Italy is
regulated. Once you’ve found your new property and secured a
mortgage an offer should be made through the selling agent.
Once a price has been agreed a preliminary contract is drawn
up (this can be preceded by a compromesso, which legally
commits the buyer to the purchase). A deposit of between
10-30 percent is required at this stage.
The preliminary contract contains information regarding the
sale price, mortgage details and completion date. The sale
will be completed before a public Notary when the final deed
(Rogito) is signed. The details of the property are recorded
in the local Italian land registry office
A Government official (Notaio) is responsible for the
legalities of the purchase itself and acts on behalf of both
the buyer and seller. Most purchasers feel it essential
instructing an English-speaking solicitor to act solely on
their behalf to oversee the whole process.
Typical
Legal Costs in Italy.
Notary fees vary depending on the property price
and are higher as a percentage on cheaper properties. An Italian Notaio’s fee will be
related to the declared value of the property being
purchased. Italian solicitors cost will be in addition to
the notaio's fee and their duties will include drawing
up the contracts, contacting the notary, paying any taxes
and registering the property.
Estate Agent’s Fees in Italy
Estate agents fees in
Italy can vary, and the buyer normally pays between 1 and 3
percent. A typical Italian estate agent's fee is negotiable
and can even be split between buyer & seller.
Property Tax in Italy.
Italian land registration tax, will be between 3% to 7%
and relate to declared value and reason for purchase. A non
resident will typically pay around 7%.
If you've already found a property or need to start things moving quickly, you
can download our pre-qualification form now, sign and fax it
back to us, and we'll take care of the rest!
This information is for guidance only and does not constitute
regulated financial advice. We strongly urge you to take
appropriate legal and taxation advice before purchasing any
property. Overseas mortgages are not regulated
by the FSA.
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