Getting a Mortgage in Italy: a Comprehensive Guide

How to Obtain a Mortgage for Property in Italy: Expert Advice

Italy’s allure as a destination for purchasing property extends beyond its scenic landscapes and historic charm. However, navigating the mortgage landscape in Italy can be complex, especially for international buyers. This guide aims to provide a detailed overview of obtaining a mortgage in Italy, drawing on expert insights and integrating essential information for non-residents.

The Mortgage Approval Process

The process of securing a mortgage in Italy involves several steps and considerations. Understanding these can help prospective buyers streamline their efforts and increase their chances of success.

1. Duration for Loan Approval

The loan approval procedure for international investors typically matches the timeline for Italian buyers. However, if the process takes longer, it may be beneficial to seek assistance from another bank or advisor to avoid unnecessary delays.

2. Maximum Loan Amount

For foreign customers, the maximum loan amount, or Loan to Value (LTV), usually does not exceed 60% of the property’s purchase price or appraised value, whichever is lower. In some cases, this can be as low as 50%. Therefore, buyers should be prepared to provide at least 40-50% of the property value as a deposit.

3. Additional Costs

When applying for a mortgage, consider the following additional costs:

  • Mortgage fee (spesa istruttoria): Approximately €800 or a percentage of the mortgage amount (around 0.40-0.60%).
  • Mortgage tax: 2% of the mortgage amount.
  • Appraisal fee (perizia): Ranges from €250 to €1,000.
  • Insurance: Compulsory, based on the property’s reconstruction value.

4. Personal Meetings

Applicants should expect to attend at least one in-person meeting at the bank to sign necessary documents. This step generally follows the acceptance of a purchase proposal.

5. Requirements for Applying

Key requirements for applying for a mortgage include:

  • Income and Residency: The currency of income and tax residency can impact eligibility. Income in a non-internationally recognized currency or recent changes in employment may complicate the process.
  • Property Location and Condition: Banks typically prefer properties that are already habitable or renovated.
  • Client Profile: Banks favor clients with stable employment histories. Self-employed individuals may face stricter scrutiny and require additional documentation.

6. Prepayment and Modification Without Penalty

Under Italian law, there is no penalty fee if you decide to pay the entire mortgage amount before the original end date. Additionally, there are no penalties if you modify the conditions of your mortgage, offering flexibility and beneficial terms for those who wish to settle or adjust their mortgage early.

Special Considerations for Non-Residents

For non-residents or those without income generated in Italy, obtaining a mortgage from an Italian bank can be particularly challenging. Unless you have been a customer of the bank for at least one year, approval is often unlikely. In such cases, it is highly recommended to contact an international mortgage broker who can explore financing options tailored to your specific circumstances.

Given the complexities involved, here are some expert recommendations for securing a mortgage in Italy:

  • Early Preparation: Begin gathering necessary documentation well in advance.
  • Professional Assistance: Utilize the services of experienced mortgage brokers or advisors.


Obtaining a mortgage in Italy requires careful planning and understanding of the local financial landscape. For non-residents, seeking professional guidance from international mortgage brokers can significantly enhance the likelihood of securing financing. By following these guidelines, prospective buyers can navigate the mortgage process more effectively and achieve their dream of owning property in Italy.

Additionally, obtaining a pre-approval will greatly assist during the negotiation to purchase a property, providing confidence and clarity in your financial capabilities.

For more detailed assistance with property matters in Liguria, you can reach out to our experts at LiguriaHomes Casamare.

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