Obtaining A Mortgage In Italy

Many people wonder whether it’s possible to obtain a mortgage in Italy if they neither live nor work in the country.

The answer is yes—it is certainly possible. There is no law that prohibits non-residents from getting a mortgage in Italy. However, banks can be quite strict when it comes to approving such loans. They tend to be very particular about the documentation and guarantees required.

If your income comes from outside Italy, banks may find it harder to verify your financial stability. And if you default on the loan, it’s more complicated for them to access your foreign assets and recover the money.

That said, finding a bank willing to approve your mortgage application might take time and involve visiting multiple banks. Having acquaintances, friends, or family who can introduce you to a local bank may be helpful—especially in small towns or villages where personal relationships still carry a lot of weight.

If you’re unable to secure a mortgage in Italy, another option is to obtain financing in your home country and pay in cash in Italy. (And by the way, paying in cash can sometimes help you negotiate a better deal…)

 

 

This article is not exhaustive and is a guidance only.

If you need help with buying property in Italy (but not in summer, ah ah), do not hesitate to get in touch.

Barbara De Benedittis Relocation and Legal in Italy