Italian
Mortgage Basics
The majority of nationalities can apply
for a loan, either for house purchase or re-financing for home
improvement purposes only. These are commonly in the form of a
repayment mortgage.
If you are not an Italian Resident, the maximum amount of loan you can apply for is 75% of the
valuation or purchase price, whichever is the lower. Residents
of Italy may borrow up to 100%.
Term of Loan
The term of the loan must be between 7 and 20 years, up to a
maximum age of the borrower of 70 years.
Income
The lender will require proof of income in all cases. This can
be made up of earned income, pension, investment or rental
income.
The lender may take all or part of these incomes into account
when determining the maximum loan available.
Property Characteristics
The property must be certified as
residential (ex-rural homes newly certified as residential are
acceptable).
The property must be in habitable condition without requiring
improvement, and not be isolated.
The valuation carried out by the Bank’s surveyor must confirm
the normal marketability of the property.
Mortgage Rates Available
Variable, Fixed and Capped rates are
available.
Currently, non-Status loans are not available.
|
