Italian mortgages are again very easy to source and obtain. The Italian mortgages are means tested and so some proof of earnings and expenditure from the home country is required.
Please find some basic facts below:
- The minimum loan on an Italian mortgage is €40,000
- The current interest rate is between 5.75% and 5.88% depending on what type of mortgage you require
- Mortgage set up costs vary between 2.5% and 4.5% of the purchase price of the property with broker costs of approximately €700
- The mortgage term is a minimum of 5 years and a maximum of 40 years to end on the 85th birthday of the eldest purchaser
- There are no early redemption penalties
- Any mortgage that encompasses payments other than the final payment will necessitate a "draw down" mortgage.
Our skilled representatives will able to advise you accordingly on which payment schemes are relevant. Please see the details of our fully comprehensive one-to-one inspection trip