Italy

Do I qualify for an Italian mortgage?

To qualify for a mortgage in Italy, a calculation is used to establish whether you can afford to maintain the mortgage repayments. Once you have completed our enquiry form, Mortgage Helpline International will be able to assess your suitability for a mortgage.

How much can I borrow?

Calculation based on the valuation or purchase price, whichever is the lower

Up to 60% of LTV available for house purchase. Remortgage, Equity Release or home improvement loans are assessed on a case by case basis.

Based on joint gross pay, where joint income is applicable

Existing liabilities, e.g. mortgage or rental payments, loans, credit card payments and maintenance are taken into account, together with the proposed Italian mortgage payments. All this must not exceed 35% of your monthly net income.

What evidence of income do I need?

If you are employed:

Your last three month’s payslips

Your last two years tax assessments and Employers Reference/Contract of Employment

Your last six month’s personal bank statements

Full credit report

If you are self-employed:

Your last three year’s accounts

Your last three year’s personal tax returns

Your last six month’s personal and business bank statements.

Full credit report

Example mortgage payments

If, for example, your gross joint monthly income is 12,000, 35% of this equates to 4,200 and your only liability is your mortgage payment, of say 1,800, this would leave a balance of 2,400. Your Italian mortgage repayment must not exceed this figure.

What types of Italian mortgages are available?

Loans available in Euros only up to 60% of the property’s value

The maximum term of any mortgage is 25 years on a repayment mortgage basis.

The minimum loan you can take out is €150,000