# getting a mortgage from Italian bank



## didilizzy

Hi,
Does anyone have experience getting a mortgage from an Italian bank? I'm British and just moved here I work as a freelance in Spain but need to get a mortgage, only asking for 35,000€, it seems a real minefield with what I need to show, documents, what's the best way to persuade the bank to give me a mortgage?? Any advice would be most welcome.
thanks


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## italy

without a registered contract or steady job with bank statements that show income and outgoings over the last few years as proof Italian banks will not lend a penny as a mortgage..even if you property is ten times the value of the loan you are asking for.. they are the safest banks in the world because they never take risks.. 

you might be able to get a restructuring loan with money released as work is carried out..but this involves even more paperwork and still requires you to be able to prove income and outgoings via bank statements and also tax returns each year for at least the last few years... 

i believe Barclays has a presence in Italy and although they still have to apply the same lending criteria they might well via their international section be able to help with working out with you if its possible.. but i doubt it...


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## dario

didilizzy said:


> Hi,
> Does anyone have experience getting a mortgage from an Italian bank? I'm British and just moved here I work as a freelance in Spain but need to get a mortgage, only asking for 35,000€, it seems a real minefield with what I need to show, documents, what's the best way to persuade the bank to give me a mortgage?? Any advice would be most welcome.
> thanks


I have handled a mortgage for an english residing client. If I remember rightly, I was asked for a copy of a tax return which needed the apostille from the Italian consulate in place of residence polus bank references from usual bank.

Its not really a question of docments rather than credit worthiness. - Italy was never easy on loans, even prior to the credit crunch (perhaps the reason why no Italian bank took the plunge), however they have become even stricter since - they will usually give you a loan calculating a monthly payment of 30% of your monthly income (i.e. - if you earn £ 1500 a year, they'll calculate a mortgage with payments of £ 500 a month. If you want £ 35 000, then that would mean 70 months + interest payments - if you earn less then the mortgage lengthens.


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## Cheru

Barclays and Unicredit lend to foreigners in Italy. I took up a mortgage with Barclays in Milan, did not need a broker as they speak perfect english

hope this helps!


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## nickwhite

you should get a mortgage with an italian bank, the advantages really outweigh the downsides. this site has some more info on it. Overseas Mortgage - Italy: Mortgage, remortgage and bridging loans
hope its useful, it really helped me. its a mortgage brokerage


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