# Looking for a bank that will give a non-resident mortgage to a Brit.



## Annique101 (7 mo ago)

Hi all!

I'm new to Expat Forum so Hello and it's good to be here.

My partner is Italian and we're currently in the process of getting my citizenship. I have UK based employment and residency in the UK. We're looking to buy a property in Sicily as we're going to split or year between the 2 countries, however, predominantly live in the UK. A property will give us a nice bolt hole as we're expecting our first child and don't want to always need to stay with his family.

I was just wondering if anyone can point me in the direction of an Italian bank that offers non-resident mortgages or is it better to get an international mortgage in the UK to purchase a property in Italy?

What have been your experiences and what do you think I should look out for?

I'd love to hear tips from those who've been through it.

Thanks in advance!!

Annique


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## NickZ (Jun 26, 2009)

Assuming your income is in £ you're better off getting an UK £ mortgage. This way you won't need to worry about currency fluctuations. 

Barclays Italia used to provide Italian mortgages I think to non residents but they've closed up in Italy.

Off the top of my head I can't think of anybody else.


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## modicasa (May 29, 2021)

Barclays gave up on Italy about 10 years ago. You could try Deutsche Bank, but in my experience you're on a hiding to nothing. Much easier to extend your mortgage in the Uk or get a mortgage in the UK and use the cash. There are a few brokers who may be able to wangle it, but you'd pay through the nose for it. Lenders here are very picky about what they lend on - a flat in the centre of town is ok, but a stone house in the country they won't touch.


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## imsugo (2 mo ago)

Have some banks that use the income from outside Italy, to give mortgage to non italians , my suggestion , is buy as <prima casa > 

Non-Italians citizens that produce income and living outside the territory of the Italian Republic, asking for a mortgage in Italy, should be aware that they can achieve significant savings in fees, if they purchase, their home in Italy, taking advantage of the use of financial incentives and practices of a purchase as a Prima Casa (first home) : this an real estate classification in the law in Italy and ONLY means that it is your first property purchased in Italy .

First home benefits are:

1> the tax on the capital of the loan that decrease from 2% to 0.25%
2> the tax on the value of the home purchased decrease from 10% to 2%
3> the annual property tax (IMU) which is reset
4> be able to buy a car in Italy
To achieve the facilities of the First Home , need you obtain the Elective Residence in
Italy . The Elective residence does not allow to produce income in Italy, and therefore not obliged to transfer its manufacturing activities and the tax on them in Italy.

However, no one prohibits obtaining residence, for the sole purpose of applying for the mortgage, and not availing of the first home benefits - Moreover, the elective residence in Italy, to remain valid, must be renewed each year for the first three years - every 2 years for the following 5 years, every 5 years, for the next 10 .. and so on - Therefore, if at the end of the first year, after having opted for the mortgage, and bought the house, without the first house facilities, the renewal is not submitted to the municipality residence office , it returns to be normal tourists, who can stay in Italy, maximum 90 days a year.
IMPORTANT NOTE, the buyer has 18 months to obtain the residence to the purchased Prima Casa , if this does not happen, him lose the allowance and have to pay to the revenue agency: the difference between the transfer fees prima casa and seconda casa - a 30% tax on the sums paid


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## modicasa (May 29, 2021)

I know of no bank which will give a mortgage to a non Italian non resident. You must be at least one of either, before you can start approaching institutions. There was a broker called Top Italian Mortgage (www.topitalianmortgage.com) that promises mortgages to Non Italians and non residents, but as to whether they can actually do what they promise on hte website is anybody's guess.


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## imsugo (2 mo ago)

i am sorry modi , i can't reply to you with necessary data - the administration of forum - clasify my reply as spam - i only write that you and me write about this matter in other forum in 2015 - and indicate where the others can chek - that i write - patience .. thisd is lex


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## NickZ (Jun 26, 2009)

Like I said. It makes more sense to get a loan in your home country. Matching the liability's currency with your income's currency. 

To do it any other way is a gamble on the exchange rate.


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## imsugo (2 mo ago)

100 gpb = 114,35 euro where is the convenience ? moreover, as of today 16 November 2022, the 10-year fixed rate - according to the leandif Uk Bank - is 1.50%, higher than the corresponding fixed rate (same duration), of a leading Italian bank


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