Italian Mortgages

1. Ask for a Quote

Find out how much you can borrow and what it is likely to cost you. When you complete our simple enquiry form, we will be able to work out how much you can borrow and it will help you budget for your purchase in Italy. This quotation is totally free and confidential.

Short Enquiry Form

2. Get Pre-Approved for a Loan

If you prefer, complete more in depth pre-qualification service that will enable us to speak with our Italian banks on your behalf and obtain an initial pre-approval from them. With this information, you can start house hunting with more confidence.

Pre-Approval Form

3. House Hunting

Visit Italy to view properties

4. Choose the Perfect Property

When you find a property in Italy, you will probably be asked to sign a Purchase Proposal ( Proposta Acquisto) or even a Preliminary Purchase Contract (Compromesso di vendita), agree on timings and pay a deposit.

The purchase proposal is not usually legally binding and simply states your intention to buy, and the sellers agreement to sell, the property at an agreed price and date. The Preliminary Contract is usually legally binding if the conditions stated are met.

If you don't speak Italian, make sure that any contract you sign is also translated for you and that the clause "subject to mortgage finance" is in the agreement. This will cover you if something goes wrong with obtaining mortgage finance.

5. Get Pre-Approved for the Mortgage

If you have not already obtained an inital pre-approval from a lender, now is definitely the time to do it. Contact us and complete the online pre-qualification form.

Pre-Approval Form

6. Apply for the Mortgage

You will then need to submit a mortgage application. Each lender is different, but generally you will need to provide:
◦ signed application form
◦ proof of income documents
◦ bank statements
◦ identification documents
◦ property documents (these will usually be available from the selling agent)

We will provide you with a personalised list of required documents when you decide to proceed.

7. Bank Meeting

Most banks require that you meet with them, in person, to sign the official mortgage application. This is for 'Know Your Client' (KYC) reasons. If this is necessary, we will arrange for an initial approval based on emailed documents, before you need to travel to Italy.

For the actual meeting, we will arrange for you to be accompanied by our bilingual colleague so that you fully understand what is discussed.

8. Mortgage Approval & Survey

You should then receive an approval from the lender and a survey of the property will be arranged. Some banks will approve you and then do the survey on the property, others will inspect the property and then approve the full file. Depending on your circumstances and which bank is appropriate, we will let you know the expected process and timings.

9. Arrange Legals

You will need to open an Italian bank account and will need to arrange a date for completion, agree on a Notary and possibly arrange a translator for the legal documents and contracts to be signed / Power of Attorney

10. Completion

You will either need to visit the notary in Italy to attend completion, or arrange for a Power of Attorney (usually your lawyer) for completion and transfer of ownership of the property (Rogito).

At this point you must pay a property registration fee and a land registry tax plus the remaining balance of the agreed purchase price. Then both vendor and purchaser sign the il rogito notarile, the definitive contract equivalent to the Deeds of the property. All registered property transactions in Italy must take place in front of a notaio. The notaio’s job is to check that the sale documents are correct, to verify the identities of the parties involved, to collect the tax on the sale due to the Italian government and to ensure that the entries in the land registry are updated to show the new owner.

The Mortgage Application Process