To take out a mortgage on an Italian property you have to go through an Italian bank (or a foreign bank which has branches in Italy). If you find a property with us, we will assist you in obtaining a mortgage.
Only properties that are habitable and accessible can be mortgaged. For non-residents who wish to obtain a mortgage in Italy, usually the most you can borrow is about 50-60% LTV. If you are approved the minimum a bank will lend you is €50,000, but some banks have higher minimums.
The cost of arranging a mortgage can be quite high with arrangement fees to pay as well as a government tax of 2% of the amount borrowed, in addition to an extra notary deed (usually €2500 – €3000).
Bear in mind that quite a lot of documentation is required by Italian banks and the future rental income of the property will not be taken into account; you will need to provide information about your income and financial status. If you own assets in other countries it may be simpler to mortgage them and pay cash for your Italian house.
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