May a foreign resident get a mortgage from an Italian Bank in the process of buying a property in Italy?

Mortgages for buying property in Italy

What is the procedure? What documents are needed to be submitted?

The answer is YES! Non-Italian residents are legally entitled to obtain mortgages to buy a property in Italy.
However, due to the economic crisis and the new Anti-Money Laundering Regulation, over the past few years Italian Banks had made their mortgage-policy stricter, especially when dealing with non-Italian residents. The reasons for this policy can be found in a) the personal responsibility of Bank Directors who must verify the source of the money that is used to buy the property (concerning the documents to provide the Bank with, see below) and b) properties are no longer considered as sufficient warranty in case the buyer stops paying the mortgage installments (given the difficulty and the costs for enforcing the payment from outside Italy).

Nevertheless, there are still some Italian Banks willing to concede mortgages to non residents; part of our daily work is to prepare a client’s case in order to present it to one of these banks with whom we have an existing and trusted relationship. This is also one of the reasons why it is advisable to appoint us as your local Italian Law Firm so that we can assist you as the foreign buyer in this procedure.

ILF has a strong business relationship with many Italian Banks with whom we are assisting foreign clients for many years so far and this can be the difference between a yes or a no for a mortgage application.

 

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What is the procedure? Which documents need to be submitted?

The process to obtain a mortgage involves several costs, namely:

  1. Mortgage application fees;
  2. Surveyor fees (when applying for a mortgage to buy a property, the bank appoints a surveyor in order to make an Evaluation Report to give the property a value on the basis of which the mortgage will be granted);
  3. Mortgage taxes;
  4. Insurance and translation fees if required.
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The chances to obtain a mortgage for buying property in Italy are conditioned upon several parameters, such as:

  1. The amount of the sum requested as loan; Banks usually grant no more than 60/70% of the purchase price according to the
  2. Evaluation Report drafted by the surveyor appointed (see above);
  3. Applicant nationality;
  4. Financial status of the applicant; in this regard, it should be noted that Italian Banks require to know whether the applicant is capable (from a financial point of view) of sustaining the loan. This is the reason why you will need to provide a copy of the applicant’s last Tax Declaration (which must be translated in Italian and legalized through Apostille or by the Italian Consulate of the Country of residency of the applicant)

The timing to have an answer may vary from case to case. It usually takes a few weeks. Once the application is approved, in cases where the mortgage has been requested for buying a specific property, the mortgage contract is signed in front of the Notary at the same time as the signing of the final deed for transferring the ownership of the property. An officer of the Bank attends the meeting and provides the seller with the check (which amounts to the sum granted as mortgage).

How to get a mortgage in Italy?

In order to request a mortgage in Italy, you will need to provide an accepted offer on a specific property. Before you make an offer for a property in Italy, please bear in mind that the contract may well include an amount of money that you could lose, therefore we strongly suggest you hire one of our lawyers (or use another Italian lawyer) to prepare the offer with you.
Are Italian mortgage rates for non-residents very high?
We are frequently able to obtain the same interest rate via our existing bank relationships for our non-resident clients as our resident and Italian clients.
What is a typical down payment for a house or property in Italy?
This really can depend on the situation. In general, expect your down payment to be higher than it would be in the US or UK. However, we are here to help prepare your individual case to obtain the maximum loan that would be possible as a non-resident,
What are the best Italian banks to obtain a mortgage from?

This can change depending on the bank’s current situation. They may be offering mortgages to non-residents one month and then put this on pause for several months. Luckily, we have established relationships with the banks here and can guide you through the process and apply and negotiate on your behalf.

Sum up of the details for obtaining a mortgage in Italy

  1. Italian Banks usually concede a mortgage that can last from 5 up to 30 years;
  2. Italian Banks usually accept mortgage request for a sum amounting not less than 70,000 euro;
  3. A mortgage cannot be grated for a sum that covers 100% of the cost of the property (the maximum mortgage is typically 50-80% of the purchase price depending on your individual circumstances);
  4. In case the applicant is more than 70 years, Italian Banks usually require for the signature of another (younger) applicant that will be jointly liable;
  5. Generally mortgages are granted for purchasing residential properties. We also regularly deal with loans for hospitality, such as agriturismo, hotels and B&Bs.

how to get a mortgage in Italy

What is the Italian mortgage rate for non residents? How to calculate it?

Interest is a percentage share of the principal, and its amount depends on 3 factors:

  1. Interest rates
  2. Amount of the mortgage
  3. Mortgage term

Here we find out everything a non-Italian resident needs to know about how mortgage interest works, starting with interest rates and ending with how to calculate mortgage interest according to the type of amortization plan.

How does the property mortgage interest rate work in Italy?

TAN and APR: what are they in the Italian Bank system?

Mortgage interest expense is influenced by two factors: TAN and APR.

The TAN represents the Annual Nominal Rate, which is the amount of interest you will need to pay back to the bank.

The APR represents the Annual Percentage Rate and incorporates all those additional expenses that go into making up a mortgage. The APR thus represents an indicator of the total cost of financing.

Also known as the Summary Cost Indicator, the APR includes the following items:

The TAN
The insurance policies in the case of a mortgage exceeding 80% of the cost of the property;
The costs related to payment transactions
The cost of file management, stamp taxes, appraisal fees, notary fees…
All other expenses related to financing.
Since it is an indicator, the APR is not used to calculate the interest rate of the loan.

When calculating loan interest in Italy, you refer to the TAN, which represents the pure interest rate applied to the principal amount. The TAN can generally be determined as a fixed or variable amount.

Fixed or variable TAN?

When applying for a mortgage, the most difficult choice is precisely this. If the fixed rate provides you with the security of no nasty surprises in your installments, the variable rate could save you a lot of money.

How do they work? The fixed rate represents the sum of the spread that the Italian bank decides to apply and the market benchmark (I.R.S) set at the time the contract is signed.

For this reason, the advantage of the fixed rate is that it guarantees a constant installment throughout the duration of the loan.

The variable rate, on the other hand, consists of the sum of the spread that the bank decides to apply and the Euribor reference financial index, which is not fixed but fluctuates according to trends in the market.

This means that in the case of variable rate, the amount of the installment increases or decreases periodically according to market trends.

Interest calculation on Italian mortgage

Calculating interest on the mortgage on an annual basis is done with a simple mathematical formula: principal loaned x annual nominal rate x duration of the mortgage in days / 365.

For calculating interest on the individual installment, the formula becomes: R=(1+1/{(1+i/12)^n-1})*i/12*M where (i) represents the annual interest rate, (n) the number of monthly installments to be paid, and (M) the amount of the mortgage.

The amortization schedule applied in Italy

Once the loan is taken out, the bank provides the borrower with the amortization schedule, which is a table showing how the loan will be repaid:

  • the amount of each individual installment to be paid (usually monthly) and its due date.
  • The interest portion and the principal portion for each installment
  • Loan repayment can be done with French or Italian-style amortization. Let’s see in practice how interest on the loan is calculated in the two types identified.

Calculating interest on the mortgage with French-style amortization

The most common type of amortization is French-style, in which the installment remains constant but over time the weight of the principal portion (which increases) and the interest portion (which decreases) varies within it.
To calculate the interest on each installment, the formula must be applied: Principal x Annual Interest Rate / Number of Annual Installments

At the time of the first installment, since we have not yet repaid any of our borrowed capital, interest will be calculated on the entire principal.
To figure out how much interest we are going to pay in the second installment, we will have to calculate the portion of the principal we have to go to repay, i.e.:Portion of principal = installment – interest

Now we can go on to calculate the interest expense of the second installment on the remaining principal, given by the initial principal minus the calculated capital share. In this case, the interest expense will be:Remaining principal x Annual interest rate / Number of annual installments.

Interest calculation on the mortgage with Italian-style amortization.
In the case of Italian-style amortization plan, the installment rate changes over time while the Principal Share remains constant. This means that the Principal Share has a fixed value and does not have to be recalculated at each installment.
The formula remains the same: Remaining principal x Annual Interest Rate / Number of annual installments. From time to time, the value of Capital Share repaid in the previous installment should be subtracted from the remaining principal.

How to calculate mortgage interest expense for tax deduction in case the non-resident decides to relocate permanently in the property purchased in Italy?

An Italian Resident tax deduction equal to 19% of the interest expense and related incidental charges is due for mortgages on the primary home.
The formula for calculating the share of mortgage interest expense deductible in the Italian Tax Return is as follows: cost of house purchase x interest expense paid / amount obtained under the mortgage.

The deduction is on a maximum amount of interest expense and related incidental charges of 4,000 euros. In the case of a joint loan, this limit is to be apportioned among the borrowers equally or according to the different percentages that can be derived from the loan contract itself.

In fact, for co-mingled mortgages, the interest deduction can be claimed by both co-borrowers, regardless of the percentage of ownership of the property.

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Why do I need an Italian attorney to be represented in obtaining a mortgage?

Purchasing a property can be a complex process, particularly if you are a non-native to the country where you wish to buy the property. Italy, in particular, has a unique legal and bureaucratic system that can be challenging to navigate without the help of an experienced attorney. This is especially true when it comes to obtaining a mortgage to finance the purchase of a property.

There are several benefits to appointing our Firm when you want to obtain a mortgage for buying a property in Italy. Here are some of the reasons why you should consider hiring us

  1. Knowledge of the Italian Bank system
    ILF are experts in the Italian legal system and can provide valuable insights and guidance on navigating the legal requirements and procedures for obtaining a mortgage in Italy. This includes understanding the documentation and formalities required, as well as the relevant laws and regulations that govern mortgage financing in Italy.
  2. Assistance with negotiating the mortgage terms
    ILF attorneys can assist you in negotiating the terms of your mortgage with the lender. This includes ensuring that the interest rates and repayment terms are fair and reasonable. They can also help you understand the implications of any clauses or conditions in the mortgage agreement, such as penalties for early repayment.
  3. Protection of your interests
    ILF Bank Brokers will represent your interests throughout the mortgage application process and ensure that your rights are protected. They can review all of the legal documentation and advise you on any potential risks or issues that may arise during the mortgage application process.
  4. Communication with lenders
    ILF English speaking attorneys can communicate with lenders on your behalf, helping to streamline the mortgage application process and ensure that all the necessary documentation is provided in a timely and accurate manner. They can also help you understand the lender’s requirements and expectations, making the process smoother and more efficient.
  5. Peace of mind
    Finally, hiring ILF Firm to assist you with obtaining a mortgage can give you peace of mind. You can be confident that you are following the correct procedures and that your interests are being protected. This can help reduce the stress and anxiety that often come with a major financial transaction, such as buying a property.

It is important to understand that obtaining a mortgage in Italy is very different from countries such as the US and UK, especially when it comes to the possibility of losing money from the moment you sign an offer if you have not received guidance, to understanding the local laws that will apply to your particular property and any penalties you may become liable for if something has not been handled correctly even before you were the owner.

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The contents of this page should not be taken as an authoritative statement of Italian law and practice. Neither the author nor the publisher are responsible for the results of actions taken on the basis of information contained in this summary, nor for any errors or omissions. This text is not intended to render legal, accounting or tax advice. Readers are encouraged to seek professional advice concerning specific matters before making any decision.

100 Comments

  1. George Rosenberg says:

    I am 73 my wife is 81. Resident in Italy. Income from abroad. I’ve been told by an Italian mortgage broker that at age 73 I am too old to get a mortgage. Is this true?

    • Italy Law Firms Staff says:

      Ciao George,
      many thanks for your post.
      Unfortunately Italian Banks tend not to give a mortgage to people over 70 years old. However our Italian Bank Brokers could try find a solution suitable for your case and acceptable for Banks. Please send us an email and give us more details and our Italian Bank Attorneys will contact you very soon.

      • Dalina says:

        Hello
        I’m an Italian citizen, living and working actually in USA. I would like to by an apartment in Italy and for that I need to get a small mortgage but my bank said they give me a mortgage but not to by in Italy.
        I need to by and I need the mortgage.
        How can I do?
        Please there is somebody who can give me some information?
        Thank you
        Dalina

        • Italy Law Firms Staff says:

          Ciao Dalina,
          thanks for your post.
          We confirm that American Banks do not (usually) grant a mortgage to buy an apartment in Italy.
          In theory you can apply an Italian Bank to obtain a mortgage but it is necessary to understand whether you do meet the usual necessary requirements in terms of financial guarantees and documents.
          Please send us an email to info@italylawfirms.com to book a free consultation with our Italian Bank brokers (fluent in English). They will provide you with a preliminary opinion about your case.

  2. Chong Yi says:

    Hi team,

    Thank you for the details in this article. I’m a Hong Kong citizen and recently consider in doing property investment in Italy. Few questions here:

    1. As a foreigner, am i allow to buy property in Italy? I understand there should be a reciprocity rule for property purchase in Italy.
    2. As a working professional from HK, if i’m allow to buy property in Italy, will i be allowed to get mortgages in Italy?

    Thanks so much!

    • Italy Law Firms Staff says:

      Ciao Chong
      many thanks for y9our post.
      Please find our replies to your questions below
      1. In order to verify whether a no resident can purchase a property in Italy, it is necessary to understand whether there is a Reciprocity Treaty in force between Italy and the Country of provenience of the foreign whi intends to but a real estate in Italy. A Chinese citizen is allowed to buy a property in Italian state.
      2. A foreign with an income in his country is in theory allowed to obtain a mortgage from an Italian Bank. However it is not always easy and it is necessary to be very precise in building the mortgage application.
      Please send us an email and our Italian Bank Brokers will examine your specific case and give you a detailed evaluation.

  3. Rachel OGrady says:

    Hi there
    We are UK residents and would like to purchase a holiday home in Riva Del Garda.

    We would want to let it out (short lets eg on Airbnb) to holiday makers when we are not using it.

    Is it possible to get a ‘holiday rental’ mortgage as a UK resident, for a property in Italy?

    Thank you in advance..!!

    • Italy Law Firms Staff says:

      Good morning and thanks for your e-mail, our Law Firm is specialised in services for foreign clients

      Our Law Firm has an approach tailored to the needs of our clients, because we are a professional integrated reality, where Lawyers (with PoA, of course) are accompanied by surveyors, accountants, financial brokers and a notary. In this way we can follow our clients project step by step, proceeding to accompany them among all the phases they have to attend in order to achieve their projects and their goals.

      So, of course YES, we can help you, it’s properly our work. If you are interested in our assistance write an email to info@italylawfirms.com

      • Is it possible to re mortgage with another bank on a fixed-rate mortgage?

        • Italy Law Firms Staff says:

          Good morning and thank you for your comment, every loan is quite a single negotiation in which lots depends by the circumstances of the single case. Our team could accompany you alongside all the negotiation with italian banks with the financial brokers that collaborate with us. If you would like to be assisted by us, please write an email to info@italylawfirms.com

  4. Kocharito says:

    Hello,
    I am a Azerbaijan citizen, and i want to buy a property in Italy, do i need any live permit or work permit in Italy for mortgage?

    • Italy Law Firms Staff says:

      Hello and thank you for your comment,
      There are different and several requirements in order to obtain a mortgage in Italy. Our law firm of italian lawyers specialised in services for foreign clients has a tailore approach and follow step by step foreign clients in all the procedure they need to achieve their goals. If you need our assistance, write and e-mail to info@italylawfirms.com

  5. Larry Clark says:

    Impressive! Thanks for the post

    • Italy Law Firms Staff says:

      Good morning and thank you for your comment!

    • Saundra says:

      Hello,

      I am interested in purchasing a home in northern Italy when I retire from the U.S.., but am surprised Italian banks will need a signature from a younger person. I will be 68 when I arrive in Italy, & reconsidering buying due to this discrimination. We don’t have this in America. Are there ways around this?
      Thank you.

      • Italy Law Firms Staff says:

        Hello and thank you for your comment,
        if you want to retire in italy there’s the residency permit, our Law Firm of italian Lawyers fluent in english has a great expertise on this field. You can find on this website an article about residency permit, but if you want more informations about the peculiarities of your case, don’t wait and write and email to info@itlylawfirms.com to schedule a meeting with our team of expert!

  6. lekso says:

    Hi I am an georgian (tbilisi) citizen, and am thinking of buying property in Italy and then rent it. I am trying to get a mortgage in Italy, What’s the first step I need to make. Thank you

    • Italy Law Firms Staff says:

      Ciao Iesko
      many thanks for your post.
      Obtaining a mortgage from an Italian Bank to purchase a property in Italy is possible but not easy. First step is collecting the necessary documents both regarding the property you want to buy and also the documents that evidence your financial capacity. However, please consider that an Italian Bank takes in consideration a mortgage request just when you have identified a specific property to buy (in Italy it is quite difficult to obtain officially a mortgage wuthout first having signed an offer to purchase).
      In any case, please write us at info@italylawfirms.com and we will put in contact with our Italian Bank Operators that will give you more specific information.

  7. Mark Smith says:

    Hello, my wife have a GBP mortgage with an Italian bank which is a variable loan so the interest rate has reached very high levels recently. Is it possible to re mortgage with an another bank on a fixed rate mortgage.

    We are based in the UK at the moment.

    • Italy Law Firms Staff says:

      Ciao Mark,
      thanks for your post.
      Italian Law provides the possibility to move your mortgage from an Italian Bank to another one. It is not for sure, obviously, to find a Bank available to give you a fix rate but this will be eventually a matter of negotiation. Please send an email to info@italylawfirms.com and we will put in contact with our Italian Bank brokers who will provide you with a more detailed consultation.

  8. Mirko says:

    Ciao, I’m an Italian citizen but I live and work in the US and I’m enrolled in the AIRE (associazione Italiana residenti all’estero). I would like to purchase a house in Italy and get a mortgage from an Italian bank and I have a couple of questions: Will that be a problem to get a mortgage, considering that I have a very high income but it’s not in Italy? Am I advantaged by being an Italian citizen and having lived in Italy for a long time? Would I get a similar rate as Italian residents? Would have a co-signer guarantor Italian resident help in any way?

    Thank you!

    • Italy Law Firms Staff says:

      Ciao Mirko
      many thanks for your email.
      Obtaining a mortgage from an Italian Bank as no resident is in theory possible, but each case must be evaluated specifically.
      In relation to your requests, please find our anserws below:
      – An income generated outside Italy could be a problem for Italian Banks but we can work on this;
      – Being an Italian resident aborad could be a benefit but no that important;
      – Havin a guarantor resident in Italy could be of help but it should be evaluated his financial capacity.

  9. Anna says:

    Hello!
    I’m a 32-year-old Belgian with a stable Belgian contract (soon I’ll be transferred to the Italian payroll). I would love to buy a house in Italy to start a family. I’ve been to one bank and their proposal was rather disappointing:
    60% mortgage for 15 years with 4 % of interest.
    I’m in a very stable position at my work and I would like to have a better proposal. Do you think it’s possible?
    Thank you in advance for your help.

    • Italy Law Firms Staff says:

      Ciao Anna,
      our Italian Bank Brokers can meybe help you. Please send us an email in private and they will reply to you soon.

  10. Max says:

    Hi!

    I’m an Indian citizen with Italian residency. I work as a Consultant Engineer with indeterminate contract. I am looking for financing to buy a residential property in india. Is it possible to get a loan from Italian banks? I’m below 35 years of age. Thank you for your time.

    • Italy Law Firms Staff says:

      Ciao Max,
      many thanks for you comment.
      Usually Italian Banks do not finance the purchase of properties outside Italy. However, please send us an email with more details and our Italian Bank Brokers will analize your specific case.

  11. Glenda says:

    Hello again!
    I forgot to add this question to my previous post on Sept. 10, 2022. I am hearing that banks will not accept mortgage loan applications (for Italian residents) for homes valued less that 118K euros–is this accurate information? Thank you for your help.

    • Italy Law Firms Staff says:

      Ciao Glenda
      it depends.. if the Italian Banks deems the loan request is not convenient to them, they can refuse the application. There dos not exist a certain mimimum amount.

  12. Glenda says:

    Hello, My husband and I (retired, both 69) are planning to become residents of Italy by February 2023. We wish to purchase our home after we become residents. Will we be able to apply for a 10 year mortgage, with the loan amount being apprx. 70%? Is there an Italian bank that would not require a younger person to sign on the loan? Thank you so much!

    • Italy Law Firms Staff says:

      Ciao Glenda,
      we can try to obtain a mortgage from an Italia Bank for you. Please send us an email and our Italian Bank Specialists will reply to you soon.

  13. Julian says:

    Hi!! I am a US citizen making $70000 annually and am interested in buying property in Italy. I was thinking somewhere in Bari. What are the requirements when it comes to obtaining a loan? What does the bank look at to determine if a loan can be granted?

    • Italy Law Firms Staff says:

      Ciao Julian,
      thanks for your post. We confirm that it is absolutely possible for a US citizen to obtain a loan from an Italian Bank to purchase a property in Italy. However the process is not easy and in order to success, we need to provide Italian Banks with many documents, legalized and translated in Italian. Each mortgage is specific case, so it is not possible to ngive you a response without having evaluated your singular case. Write us at info@italylawfirms.com and our Italian Bank Brokers will reply to you soon.

  14. Oliver says:

    Ciao,

    I am a UK citizen (by birth), living and working in Dubai (salary paid in local currency). Is there a lender that will support my purchase of a residential Italian property?

    • Italy Law Firms Staff says:

      Ciao Oliver,
      thanks for your post. Our Italian Bank Operators could assist you in finding an Italian Bank available to concede you a mortgage to buy a property in Italy; in order to evaluate your case you should please write us at info@italylawfirms.com and our Italian Brokers will contact you soon.

  15. Russell says:

    Hi – myself and my wife are considering a move to Sardinia and in doing so we could raise some of the funds from our home in the UK – let’s say £400,000 or roughly Euro 480,000, and let’s say the property costs Euro 700,000, we would need to borrow around Euro 220,000.

    I am just approaching 60 and my wife 63, so we are under 70.

    What term of loan might we get as I am 10 years off being 70, and what level of income would we need to obtain a mortgage of this amount? Would we be able to get an interest only mortgage for example?

    We have rental income, and we’d let our UK property too – so we’d have income, but not sure of the rules.

    If you could include some idea of howe this works, so we could look at what price of house we could go to in Sardinia, thank you.

    • Italy Law Firms Staff says:

      Ciao Russell,
      many thanks for yuor email.
      It is possibloe to try to be elected for a mortgage in Italy but we will need to approach the Italian Banks we work with to verify if you are eligible. According to what you specified in your post, it seems you could have the sufficient requirements.
      Please send us an email to info@italylawfirms.com and our Italian Bank Operators will reply to you as soon as possible.

  16. Dov says:

    Hello, I am a retiree who lives in Italy under Elective Residency. I am an American citizen . I would like buy a house/apartment for investment but would like to put down payment that is as little as possible . No more than 20000. My son’s name will be on the purchase. Can I get a mortgage and will I be able to make a minimal down payment? I have a good income and so does my son who also lives in Italy. Thank you. Awaiting your response. Dov.

    • Italy Law Firms Staff says:

      Ciao Dov,
      many thanks for your post.
      It is inn theory possible to obtain a mortgage from an Italian Bank to purchase a property in Italy.
      However, even if you are resident, we need to evaluate the source of your income and provide Italian Banks with specific documents related to your american pension.
      Please send us an email to info@italylawfirms.com and our Italian Mortgage Brokers will evaluate your case.

  17. Tony says:

    Both my wife and myself were married in Tuscany, we are looking to purchase in Italy . Would we qualify for a mortgage on that basis with sufficient deposit etc ?

    • Italy Law Firms Staff says:

      Ciao Tony,
      many thanks for your post.
      Even if you are not resident in Italy, in theory you are anyway quilified for obtaining a mortgage from an Italian Bank. However, having a financing from an Italian Bank could be not easy. Please send us an email at info@italylawfirms.com and our Italian Bank Brokers fluent in English will reply to you as soon as possible.

  18. Paolo says:

    Hello, sorry if this question has been asked / answered but I could not find any related information.

    I have dual (Italian/Australian) citizenship, and currently living and working in Germany. I’d like to purchase a property in Italy to rent out as a holiday home and also use it for myself on occasion during the year. I would prefer to get an Italian mortgage for this but I can also get a personal loan here in Germany to purchase the property outright.

    What would you recommend I do and do you think that I am better off sourcing the money from Italy or from Germany? Will an Italian bank give me a mortgage for buy-to-let intentions?

    • Italy Law Firms Staff says:

      Ciao Paolo,
      thanks for your post.
      In theory is possible for an Italian NO resident to obtain a mortgage to buy a property in Italy from an Italian Bank. However, as faras we understand from your post, your income is generated outside Italy and this could be an difficulty fro Italian banks. Nevertheless, each case must be verified singularly, so please send us an email and our Italian Financial Broker will evaluate your case specifically.

    • Maydelines says:

      Salve Sre Paolo.
      Mio marito ed io siamo residenti all’estero e siamo molto interessati all’acquisto di un immobile nella regione Sicilia. Attualmente siamo in Inghilterra, entrambi con un ottimo stipendio, ma vogliamo tornare in Italia definitivamente tra 10 anni per nostra figlia. sappiamo che c’è un’agenzia a Londra che offre questi servizi ma preferiamo farlo dall’Italia. come possiamo metterci in contatto?

      • Italy Law Firms Staff says:

        Dear Maydelines,
        many thanks for your post.
        We confirm that our partners, Italian Bank Brokers, can assist you in approaching the Italian Banks we work with to apply for obtaining a mortage in Italy.
        Please send us a private email at info@italylawfirms.com and our Bank Operators will schedule a video-call for a first meeting.

  19. Keith says:

    Hello, my wife is Italian and she bought a home with her sisters, but no renovation money. I have a US pension and the bank they chose doesn’t accept my money. I am resident in Sicily and married to an Italian. Is there a bank that would lend me the money for the renovations that would work with the bonuses or could we borrow from the houses equity value. Thanks…

    • Italy Law Firms Staff says:

      Dear Keith,
      many thanks for your post.
      It is possible to obtain a mortgage from an Italian bank even if the resident generates his income abroad, even if it is not simple. Please send us an email to explain in details your financial situation and our Italian Bank Brokers will explain how they can assist you in obtain a financing in Italy.

    • imtiaz hussain says:

      Hi
      I am uk resident with permanant redidence. My annual salary is 35000 poumd. I would like to buy property in italy that is worth 160000 euro . How much i can get mortgage from italian bank

      • Italy Law Firms Staff says:

        Ciao Imtiaz,
        thanks for your post.
        The percentage of the mortgage you can obtain from an Italian Bank varies on dependance of many factors. Please send us an email with more details and our Italian Bank Brokers English speaking will reply to you soon.

  20. Glynis Brydon says:

    Hello – we have residency in Sicily and divide time there. We are in the UK. We have a house paid for in Sicily. We now have land and would like to build on it. Can we secure a loan in the UK or Sicily or mortgage to assist with this using our italian home as collateral?

    Thank you

    • Italy Law Firms Staff says:

      Ciao Glynis,
      many thanks for your email.
      Given that you are resident in Italy, obtinaing a mortgage form an Italian Bank should be easier for you. Please send us an email and we will put in contact with our Italian Bank Brokers fluent in English. They will assist you in applying at a couple of Banks.

      • Annamaria Sanfilippo says:

        Ciao,

        My husband and I are currently in Sicily searching for our retirement home. My husband has dual citizenship in the United States and Italy and also has residency in Sicily. We would like to apply for a mortgage but his private US pension will not deposit into a foreign bank account. Is it possible to acquire a mortgage through a bank in Italy that can help us with this problem?

        • Italy Law Firms Staff says:

          Ciao Annamaria
          thanks for your post.
          Is is absolutely possible for a new resident to obtain a mortgage from an Italian Bank. Please send us an email and we will put in contact with our Italian Bank Brokers fluent in English who will assist you for applying for a financing at the most suitable Italian Bank.

  21. Piko says:

    Hi,
    I am an Italian/American citizen residing in the States. I would like to purchase a house in Italy but would like to use a mortgage to do so. The income generated in the US is 300K+ as employee of a company. The reason for the mortgage is to keep savings liquid for other investments and, perhaps, other properties in Italy. Would I be able to get a mortgage?

    • Italy Law Firms Staff says:

      Ciao Piko,
      thanks for your email.
      In theory it is absolutely possible for a non Italian resident to obtain a mortgage in Italy even if it is not easy. Please write us an email and we will put you in contact with our Italian Bank brokers English speaking and they will give you a specific consultancy.

  22. Louisa says:

    Ciao, thank you for this helpful article! My husband is an Italian citizen, but we are not EU residents, we live in Australia. Are there any banks that will provide a mortgage to Australians for purchase of property in Italy?

    • Italy Law Firms Staff says:

      Ciao Louisa,
      thanks for your post.
      In theory it is possible for not EU residents to apply for a mortgage in Italy to purchase a property; however it is a complex procedure and the financing is not always granted. Please write us more details via email and our Italian Bank Brokers will analize your specific case.

      • Alicja says:

        Hi.
        Me(42) and my partner (54) want to buy an apartment in Italy. We both are from EU and have good wages and secured employment. What are the chances for us to get a loan from Italian banks???

        Thank you for your help
        Alicja

        • Italy Law Firms Staff says:

          Ciao Alicja
          many thanks for your post.
          In theory you have good chances to obtain a mortgage from an Italian Bank. By the way the process is not easy and it could take time to be concluded. Please write us at mortgages@italylawfirms.com and our partners Italian Bank Borkers will examine your case specifically.

  23. Lisa Bogart says:

    Hello,

    My husband (60) and I (55) are American and interested in buying a property in Italy. I have dual citizenship in Italy. We would like to purchase a property for retirement purposes. Would we be able to get a mortgage??

    • Italy Law Firms Staff says:

      Ciao Lisa,
      thanks for you post.
      You are absolutely entitled to apply for a mortgage in Italy for purchasing a property. Please send us an email at info@italylawfirms.com and we will put in contact with our Italian Mortgage Brokers fluent in English.

  24. Gio says:

    Hi I am an American citizen I am trying to get a mortgage in Italy , my brother lives there and I want to have him in my mortgage as well . What’s the first step I need to make. Thank you

    • Italy Law Firms Staff says:

      Ciao Gio,
      many thanks for your post.
      It is absolutely possible to obtain a mortgage in Italy but each case must be evaluated “ad hoc”. Please write us an email and we will put in contact with our Italian Bank brokers.

  25. Thank you for sharing your blog. Keep on posting.

  26. Mustafa says:

    Hi, I live and work in Italy , Roma, I am 30 years old and my nationality is Iraq
    I want to get a loan to buy a house with no more than 100,000 EUR
    which banks you can advise me ?

  27. Carl says:

    Ciao!

    My wife and I own a house in Italy outright. Is it possible to borrow a mortgage against it in order to extend the house?

    Many thanks

    • Italy Law Firms Staff says:

      Ciao Carl,
      and thanks for your post.
      It is absolutely possible to borrow a mortgage in Italy. In order to allow our Italian Financial Operators, please send us an email in private at info@italylawfirms.com and our Italian brokers fluent in English will reply to you as soon as possible.

  28. Gilles Silva says:

    Dear,

    Thank you for the information. I am a 28 year old male from Belgium and am thinking of buying property in Italy to start a Bed And Breakfast. I have some savings due to inheritance, but would need a loan nonetheless. Is it possible to obtain a mortgage loan without showing income receipts/slips? A business plan for the Bed And Breakfast could be provided though.

    Warm regards

    Gilles Silva

    • Italy Law Firms Staff says:

      Ciao Gilles,
      there are many ways to obtain a mortgage from an Italian Bank; it depends on the way you do presente the application. For instance, in your case you could be first establish a company (by which you will run the B&B) and then apply for a mortgage in Italy with your Italian company. In a few words, it would be a project to built case by case. Please write us to info@italylawfirms.com to have a detailed assistance.

  29. Pavlina T. says:

    Hello, I am 28 years old, Czech nation, resident and tax payer in Finland. Is it possible to get a mortgage in Italy for a house in Sardinia (buying with my company for a business purpose – yoga retreats). The house costs 550K EUR and I would love to get it this summer. I just recently got mortgage in Finland for my first apartment for 200K EUR, would it be doable to have two? Please you can contact me via e-mail. Thank you a lot.

  30. valentin says:

    Hi! It is possible to take a loan in Italy with income for me and my wife from UK? We are Romanians and we would like to move to Italy. Thank you

    • Italy Law Firms Staff says:

      Ciao Valentin,
      we confirm that pur partners (Italian Mortgage Operators) can assist you in obtaining a mortgage in Italy. Please write us at info@italylawfirms.com

      • Sonja says:

        Interestig text! I tried my self to contact banca intesa and uni credit- 2 biggest italian banks, and they both answered to me that they are not willing to give any loan to a non resident producing an income in italy(in this case germany). Do you have any idea which banks would be more open to this?

        Thank you in advance
        Sonja

        • Italy Law Firms Staff says:

          Ciao Sonija
          thanks for your post. Obtaining a mortgage for a no resident with an Italian Bank is not easy but not even impossible. Please write us at info@italylawfirms.com and we will put you in contact with our partners Italian financial borkers (that work with more than one Italia Bank). They will evaluate your case.

  31. Tara says:

    My husband and I are both 65 years old. We hope to become residents in Italy, but first wish to buy a home. We have chosen a property we would like to purchase but would need a mortgage for 40% of the purchase price. At our age, would we be eligible for a mortgage?

    • Italy Law Firms Staff says:

      Ciao Tara,
      many thanks for your post.
      I confirm that at your age you are eligible to obtain a mortgage from an Italian Bank. Please take into account that it is not easy for a no resident to apply fro a mortgage at an Italian Bank. Banks in Italy are quite skeptical to give a loan to persons that generate their income above. Our Italian Financial Operators will contact you soon to explain how we can assist you.

  32. Fergus Greer says:

    Hello
    I want to buy a property in tome.
    I am 60 and could have a younger person to sign also.
    I wish to put down 29 percent deposit.
    I am resident in UK but am irish citizen and own property in France and Switzerland.
    Could I get a mortgage for this?
    I am self employed 30 years and have tax returns showing around 150, 000 income euro per annum for last three years.

    • Italy Law Firms Staff says:

      Ciao Fergus,
      thanks for your request.
      It is absolutely possible to obtain a mortgage from an Italian Bank; by the way, there are many factors/requirements to meet (such as, the location of the property in Italy, ownership of other assets, type of income and others). Our Italian Financial lawyers will send you shortly an email to explain in details the process to start collecting documents for applying for a mortgage in Italy.

  33. Shirley says:

    Hi,

    Me (Irish, 53) and my husband (52, Dutch) are looking for a property in Italy for us when we retire. Our yearly gross earning are around 190’000 EUR, and we are both employed with permanent contracts in Switzerland, where we also live. We are thinking of a property up to 300’000 EUR in Italy, and we could put down 20% (60’000 EUR). Do you think we stand a chance to get a mortgage from an Italian bank to finance the rest?

    • Italy Law Firms Staff says:

      Ciao Shirley,
      given that the amount of the loan you do intend to require to an Italian Bank is quite acceptable, we think that it could be worth to try to submit an application. Please send us an email to info@italylawfirms.com and our Italian financial operators will reply to you soon.

    • Magda says:

      Good morning,is it possible to obtain a mortgage in Italy to buy a property there if my salary will be in another currency, namely in zloty or british pounds,as I am not a resident of Italy? I also know that it is necessary to have a contract with indefinite duration,but is it true that I should have worked for around 2 years in a company at the moment of applying for a mortgage? I am about to change my job.Thank you in advance

      • Italy Law Firms Staff says:

        Ciao Magda,
        thanks for your request.
        It is absolutely possible for an Italian no resident to obtain a mortgage from an Italian Bank, even if it is not always easy.
        You will receive an email by our Italian Financial Operators english speaking and we will verify whether you do have the necessary requirements.

  34. Oana Lupu says:

    Hello, i am romanian citizen and i want to purchase a house in Italy, my mother is italian citizen, my incomes are within Romania terithory and i would also have my sister as a guarantor, her incomes are within USA terithory, would very much like to buy the house for our mother.
    What can we do?
    Many thanks in advance!
    Good day to you!

    • Italy Law Firms Staff says:

      Ciao Oana,
      many thanks for your post.
      Obtaining a mortgage in Italy for a no-resident is a complex process but absolutely possible. There are many factors to be considered, such as the type of income of the applicant, if there are other assets to be put as guarantees and others. In addition all the documentation must be translated in Italian and legalized by the competent Italain Authorities.
      Please send us a private email and our Italian financial operators will reply you as soon as possible.

      • Susan says:

        Hi , I am Canadaian want to buy a apt in . I Rome , my income is not that big 50k er

        • Italy Law Firms Staff says:

          Ciao Susan
          and many thanks for your post.
          I confirm that it is possible for an Italian no resident to obtain a mortgagew to buy a property in Italy. Please write us at info@italylawfirms.com and we will put in contact with our Italian Mortgage Brokers that will assist you in trying to obtain your mortgage from an Italian Bank.

  35. Pier says:

    Salve,
    É possibile per un italiano residente a Londra che e’gia’ proprietario di una casa a Londra e di una in co-proprietá in Italia ricevere un mutuo per comprare una seconda casa in Italia?

    • Italy Law Firms Staff says:

      Ciao Pier
      many thanks for your post.
      In theory it is possible to obtain a mortgage in Italy for an Italian citizen; however the point (Italian Banks tend to consider mostly) is where the income of the applicant is generate. Send us an email at info@italylawfirms.com and our Italian financial consultants will analyze your case in details.

  36. Pietro says:

    Hello there, I am an Italian citizen living in the US for over 12 years. My wife recently acquired Italian Citizenship as well. We were wondering if would be possible to get a mortgage in Italy to buy an investment property.

    • Italy Law Firms Staff says:

      Ciao Pietro,
      many thanks for your post.
      Obtaining a mortgage in Italy as no resident is absolutely possible even if it is not an easy procedure. Having an Italian citizenship is not crucial since Italian Banks are more interested in evaluating other factors (such as the source of your personal income and the country where it is generated). Please send us an email with more details and our Italian attorneys fluent in English will assist you in evaluating whether you do have the requirements to apply for a morgtage in Italy to purchase a property.

      • Anne says:

        I am British having lived and worked in Italy for over 30 years. I have requested a mortgage of 50000 euro for work to my new house. They say that because of Brexit my son (23 year old student) has to be’ a “garante”. Is this true?

        • Italy Law Firms Staff says:

          Ciao Anne,
          many thanks for your post. There are not specific rules, in Italy a mortage is a kind of negotiation with the Bank. If they ask your son to be garante, this is a thing you maybe negotiate with them.

  37. Nick Clarke says:

    I am needing a mortgage of €60000 to buy our 1st home, will be becoming resident ASAP. I have £60000 coming in the future from my dads will, is it possible to get a mortgage on this, the property we are wanting to buy is going to be totally off grid.

    • Italy Law Firms Staff says:

      Ciao Nick,
      thanks for your post. It is absolutely possible to obtain a mortgage in Italy as no resident even if it is a complex process. In order to process your application and assit you in submitting a request to an Italian Bank, we would need you to provide us with more information (such as where you are currrently resident, what your personal income and the source, where the property you do intend to purchase is in Italy and othe rinformation). Please send us an email with all the details and our Italian mortgage consultants will reply to you soon).

  38. Susan Morello says:

    We are looking to purchase a holiday home in $250,000.00 range. I am 74 years of age but my son or daughter will sign for liability purposes.

    • Italy Law Firms Staff says:

      Ciao Susan
      thanks for your post. Of course your son and daughter can sign the purchase agreement with you as guarantor. Our Italian Real Estate Lawyers will contact you soon.

      • Kennedy says:

        Good morning, please can I Purchase property in Italian with six months Italian document with life contact work, please I need an answer 🙏🙏

        • Italy Law Firms Staff says:

          Ciao Kennedy
          many thanks for your post.
          It depends on your nationality. There are Reciprocity Treaties between Italy and many other Countries that allow a foreign citizen to purchase a property in Italy. Please write us in private and our Italian Real Estate Lawyers will give you a detailed response.

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