Lifeinitaly.it 

 

ITALIAN REAL ESTATE MORTGAGE 

to Italians Expatriates , AIRE scheduled

  for buy, restore, refinance, residential properties in Italy

 

 

ITALIAN REAL ESTATE MORTGAGES

FROM 100.000 EURO 

TO  BUY ONLY 

 

FROM 150.000 EURO 

 TO  BUY  AND RESTORE ,  RESTORE, 

REFINANCE 

 

 

LIVING  PROPERTY  IN  ITALY 

 

( per la pagina  in Italiano  cliccare quž )

 

 

 Some good reasons to use the Ugo services 

 

816  Mortgages  since 1998

 

Italians Expatriates , AIRE scheduled, Maybe for Jure Sanguinis , who planning to buy,  to restore,   an home in Italy, maybe dreaming of  to buying a place in the sun for retire in Italy ,  and are interested  in getting a mortgage in Italy , or to refinance the old mortgage  in Italy , do not speak  Italian language and do not know the Italian bureaucracy ,  so , very often , find themselves embarrassed in front of the most basic procedures related to the purchase of a house in Italy and also to take out a mortgage . 

Italian banks, for their part, which do not allow the translation of the text of the mortgage  agreement , and the contract for the opening of the bank account , forcing, in fact, borrowers who do not understand the Italian language, to give a power of attorney to a person who understands the Italian language, which signs the loan agreement, in their stead .

During the procedure for obtaining a mortgage, the borrower is often called upon to put signatures, always on texts in Italian. And also he will be contacted by the bank surveyor , who almost never speaks a language different from Italian, to make the expertise required  by the bank , on the house to which he was asked for the mortgage , the appraiser will ask for a meeting, in the case of mortgage only for the purchase, or more than one meeting, for mortgages of restoration, building, purchase and restoration, refinancing and renovation, and again the borrower will, whenever be available or find a person who is available in his place.

 

 

NO STRESS ITALIAN MORTGAGE 

 

 

Ugo , you will then, whenever there where you should be,to check and formulate the compromesso text , with the cooperation of  the notary :  analyzing all easements, verifying the existance of the owners of neighboring rights of the " Prelazione Agraria" , making sure that text is written  clause that the validity of the compromesso due to the release  of the mortgage by the bank . For you will find a notary public, who may speak English,  will sign all those annoying documents in Italian, but always after have explained to you is written on . Talking with real estate agents, to collect any document and information relating to the property, ask all documents of the house , that the bank require, will agree with the bank surveyor, for all his visits to Italy in your home. Sign the purchase contract , the mortgage contract , the insurance contracts, the contract for the opening of the current account.

Ugo , can  take , to the italian tax office ,  your  Italian tax code (without you having to go and ask at the consulate). Finding the translator able to swear at an Italian court, the translation of all your income documents, if required by the bank for your mortgage. Make for you all texts of attorney necessary to sign the necessary  contracts for  buying of the house in Italy and have the mortgage, and maybe send you these texts already translated into the your language ( all languages) , in Word format, in such a way that no secretary of any notary ,  write errors.

Ugo can also help you to do all the documentation to apply for Elective Residence in Italy  (required by most banks to start mortgage procedure ) . If you buy a house in Italy, or ask for a loan to buy , or renovate; if you do, asking permission to the first house and stating that you will take up residence in Italy, you will have many allowances in Italy and pay taxes, lower, on the purchase and mortgage.

Ugo  acting on your behalf - via power of attorney -   helps you to get a no stress italian mortgage , with low expenses and competitive interest rate : an Italian real estate mortgage to  purchase , to restore,   the residential property  in Italy or  to refinance an old mortgage in Italy ,    apply a mortgage request, sign a Mortgage contract with the Italian bank, sign the Purchase contract of  your home in Italy , provide you an Italian mobile phone number , open an Italian bank account , find and sign fire and life insurances , find and sign a healthcare insurance need to ask the Elective Residence in Italy . 

 

Ugo's services you pay in three  times :

1 > at starting  you pay a fixed fee , to pay the availability of telecommunication lines necessary to receipt of  your documents, the texts for the proxies necessary  for the execution of the mortgage procedure and for the purchase procedure, if required, get Italian tax code , Real Estate Agents contacts to receive property documents , checking if the property is mortgageable , according  the Italian Banks policy , and maybe find an english speaking Notary , in order to provide a compromesso text . Opening  of Italian bank account  .

2 > When the Mortgage application to be submitted to bank  . To pay : formulation of the Compromesso text (if required and according the notary public) , domiciliary expenses for Bank Application signature in force of the Proxy , collection of all documents from Real estate agent or property seller , support to the work designer , with particular reference to the preparation of the documents required by the bank regarding the mortgage for the construction or renovation of the building offered as collateral.

3 > When the Bank issues the favorable Delibera and before signature of the Mortgage and / or purchase contract to the Italian Notary public . To pay the balance of the services ,  for  : managing relationships with the estate agent and the notary , make all signatures in force of the Proxy   , domiciliary expenses for one or more signatures on the mortgage contract  , domiciliary expenses for  purchase contract signature ,  managing of  the all bank surveyor expertise .

 

NOTE > For all mortgage contracts, called SAL (State of Progress of Works) and that is for those mortgages paid by the banks in multiple times, respectively each payment depending on an appraisal carried out by the bank's technician, the stipulation of the mortgage contract and all subsequent signatures required must be carried out EXCLUSIVELY - WITHOUT ANY EXCEPTIONS - within a total of 36 months from the date of signing of the mortgage contract, at a notary with an office located within 80km of Ugo's office and of his exclusive trust. All the fees for these signatures, up to the fifth, and also the expenses for the contacts with the bank technician necessary to fix the appointments for the dates of the appraisals subsequent to the first, requested by the bank for the disbursements of the mortgage subsequent to the first, are included in the last payment of the four listed above, none excluded.

 

Ugo give you the full calculation of  the required fees , together the services feasibility form reply . 

 

 

you will be able to find comment's from Ugo's clients on

 

>> what my clients say about me <<

 

 

 

Second Home Mortgage it can also provided 

 

For info about purchasing a property  in Italy , >> click here <<

 

Please note : click  on the underlined words in blue to open other pages, or to download the relative document. 

 

 

 

 

INTEREST RATES INFO 

Fixed interest rate is freezed at mortgage contract signature and remain freezed for all mortgage duration . The fixed Interest is the sum by the Bank Spread on the term of the mortgage in year (duration) , added to Eurirs  , working at the date of mortgage contract signature. 

Variable interest rate  varies month by month according Euribor monthly basis . The variable interest rate is the sum by the Bank Spread on the term of the mortgage in year (duration) , added to Euribor correspondant , working at the date of mortgage contract signature. 

 

Monthly  updating  of  Italian Mortgage interest rates applied    >>  HERE  <<

 

 

 

ITALIAN REAL ESTATE MORTGAGE 

GUIDELINE

 

Mortgage  can be from  10  to  30 years , and from 100.000 to buy - 150.000 to buy and restore, restore, refinance  

 

The Real Estate Mortgage in Italy can be given , for First or Second Home , on properties with no other mortgage from any other bank , to natural  peoples in good credit standing , who are at least 18  years of age and not older than 74  years   , the applicant must not be aged over 80  years  when the mortgage will expires .

 

 

VERY IMPORTANT NOTICE 

 

to submit a mortgage request to Italian banks, it is necessary to have the cadastral data of the property that will be given as guarantee, in the case of a mortgage for purchase, it is necessary to produce a copy of a purchase commitment or a compromise signed by the leave with the cadastral data of the property and with proof of payment of the deposit

 

The house which is the subject of the loan must be registered in the urban land register (CEU), mortgage requests for rural houses can only be processed after they have been duly registered in the urban land register, the properties must be registered in the urban register before the technician of the bank carries out the appraisal, the value of the properties is identified with an appraisal drawn up by a trusted technician of the bank that provides the mortgage (the costs of the appraisal are borne by the mortgage applicant)  -  banks require proof  of deposit paid, for mortgage to buy 

 

Second mortgage loans (second degree mortgage) are not accepted, however the same bank that provided the first mortgage is usually available to provide a second one, placing a second degree mortgage on the same property.


The mortgage on building land cannot be requested.

Mortgages on land, vineyards, olive groves, plantations, agricultural companies, cellars, industrial factories, commercial businesses, CANNOT BE REQUESTED

The liquidity  ( equity) loan cannot be requested.

Customers with income coming exclusively from rentals cannot be financed

The banks accept mortgage requests from Italian citizens who earn their income outside the Italian state, and who are registered with the AIRE (Registry of Italians Resident Abroad), intended for:

- to purchase: residential houses, apartments, villas, restored farmhouses, residential properties regularly registered in the urban area, located both in the city and in the countryside, even if for investment.

- to restore: properties registered in the urban register, ONLY if the building permit or DIA or SCIA have already been issued


For restorations, it is specified that if the works are not completed within 36 months from the date of signing of the loan deed, the lending bank reserves the right to disburse the loan ONLY up to the amount of work already carried out at the expiry of said deadline .

 

the loan for purchase and restoration can be obtained ONLY if the property is already registered in the urban register and the building permit or the DIA or SCIA for the restoration works have already been issued before submitting the loan request to the bank.


The loan can be granted up to a maximum of 60% of the value of the property to be purchased or restored, only to Italian citizens, registered with AIRE, with their own income - If the income is produced by a non-Italian citizen, the mortgage cannot exceed 50% of the value of the property.

This value is identified by means of an appraisal prepared by the surveyor appointed by the bank.

For properties to be purchased and restored, this percentage will be calculated on the commercial value of the property at the end of the works.

For properties to be restored only, this percentage will be calculated on the commercial value of the restoration work carried out on the property.

 

 

>>  ITALIAN MORTGAGES MONTHLY UPDATING INTEREST RATE << 

 

 

CLIK HERE FOR 

 

 

>> know how the buy and restore mortgage works  <<

**

>> know how the restoration mortgage works  <<

**

>> know how the surroga mortgage works <<

**

>> know the Italian regulations on real estate purchases  <<

 

 

 

 

In accordance with current Italian legislation, the borrower can pay off the loan at any time; the penalty for early repayment differs between banks (information in this regard is set out in the transparency documentation attached to the loan application forms of each bank). For first home mortgages, no penalties are paid for early repayment of the mortgage.


The loan contract is written in Italian, if the borrower is not able to understand the Italian language well, the notary in charge of the stipulation must ensure the presence of an interpreter with regular authorization issued by the competent court for the territory, and It is possible that the request and the mortgage deed are signed by a trusted person of the borrower, capable of understanding the Italian language well, authorized to sign all the documents necessary for the stipulation of the mortgage deed, by virtue of suitable power of attorney in Italian, issued by an Italian notary or if by a foreign notary with apostille.

 

 

 

Italian Purchasing & Mortgage Tax and Expenses

Mortgage fees 

 

You pay directly :

1) the Notary fees

2) through the Notary, ONLY  for Mortgage to buy , Mortgage to Buy & Restore,   the Land and Home registry , calculated on cadastral value of  the property , written in the purchase notarized act, as : 2% for first home , 9% for a NON  first home , 15% for the land . All with a minimum amount of 1000-euro

4) Ugo's  services 

5)  the home fire insurance 

 

 

You will be taken out , from the Mortgage amount, by bank :

1) Italian Mortgage registry, calculated on granted Loan amount, as : 0,25% for  first home   , 2% for a NON  first home

2)  Bank fees

3) the bank surveyor expert's report  

 

 

 

 

 

>> Mortgage In Italy Required Documents List<<

 

NOTE

this is the full document list , please do not start sending before receive YOUR document list  ,

Ugo , send this to you after his application signature , according your financial position , job, mortgage request and so on .

 

 

 

 

 

 

 

To have an initial feasibility analysis or  know the maximum amount of the 

Italian Mortgage that you are able to bear

 

>> Fill and send this form  <<

 

This initial feasibility analisys is free of charge

 

granting of the Italian Mortgage  , is subject by the bank approval 

 

 

 

 

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