Italian Properties for sale Making your Italian dreams real
Telephone - UK (01656) 658694 or (07841) 602592 - Italy (0039) 0522802173 or (0039) 3385040391
Email: Info@italianpropertiesforsale.co.uk
Mortgage Facility Guidelines
To obtain a mortgage in Italy, full status and proof of income and outgoings will be required. Italian mortgages are open to anyone to apply for and can be arranged for:
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To buy a property,
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For renovation of a property or
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For the construction of a new property.
Depending on the property transaction it is sometimes possible to arrange a mortgage amounting to 75% of the purchase price. However, generally a minimum deposit of 30% of the purchase price is required. In all cases, you will also be liable for the solicitor's (Notiao's) and the bank's property survey fees.
Mortgages are generally:
Repayment: These can be taken over a 5 - 25 year term and are the most common.
Interest Only: Some mortgage lenders will provide loans as interest only, though these are rare (in fact, from 2008, these became so difficult to find that this option can be disregarded in most cases).
All mortgages should be fully repaid by the age of 72 and life cover is required and will form part of the repayment terms.
Please Note: Any mortgage is secured on the property in Italy and all mortgage lenders assess the eligibility for a mortgage on the applicant's ability to service the loan and not on any potential or future income that may or may not derive from the property.
In general the guidelines are: Of an applicant's net income 35% should cover existing outgoings and the monthly repayment on the Italian loan. If you are self-employed income is assessed as the average of the last three years' net income. Established rental & investment income will also be considered. If employed a lender will base your income on your payslips and the amount that is credited to your account monthly. Outgoings considered include liabilities such as mortgage / rent paid in the UK, personal loans, maintenance commitment etc. For example - If you have a net monthly income of £2000 with a UK mortgage of £500 and no other outgoings. Taking into account 35% of the income, that is £700, a borrowing with a monthly repayment of £200 could be considered.
Together, we will make buying your Italian property easy, safe, secure and stress-free.
Italian properties for sale including:- Houses, Villas, Apartment, Farmhouses in the Emilia Romagna Region
Italian Property for sale in Italy and the facility to provide Mortgages in Italy for your dream property
View the Italian property portfolio
Discover an Italian Region for yourself
Read about how to buy a home in Italy
Browse advice on renovation and restoration
Read about our Mortgage advice
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Books
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A Place in the Sun
Restoring a Home in Italy
Buying a Home in Italy
Buying a Property in Italy
Live and Work in Italy
contact us : Telephone: (0039) 0522802173 mobile: (0039) 3348970186 Email: Info@italianpropertiesforsale.co.uk
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