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Mortgage
Finance is available through Italian banks secured on your property. Below is a table with
examples of terms offered recently to clients after carrying out an official bank valuation,
please see table below: |
Repayment term |
Interest rate |
Monthly cost per 1000 euros |
Variable Rate |
|
|
| 10 |
Euribor 3 months 3.864 + 0.80 |
10.44 |
| 15 |
Euribor 3 months 3.864 + 1.00 |
7.84 |
| 20 |
Euribor 3 months 3.864 + 1.00 |
6.52 |
| 25 |
Euribor 3 months 3.864 + 1.10 |
5.82 |
Fixed |
|
|
| 10 |
5.45% |
10.83 |
| 15 |
5.55% |
8.20 |
| 20 |
5.65% |
6.96 |
| 25 |
5.75% |
6.29 |
Banks have provided us with a valuation of over €3000 m2 as an average price across
all floors. We recommend you use Conti Financial Services or Fidentia Group to provide
and advise you of mortgage products in Italy.
Available Loan to Value: Normally 70% but up to 80% subject to status. Note this is
typically the purchase price, not the actual market value.
Note that there are no Buy to Let or self-certifying mortgages in Italy. It is similar to
France, in that no rental income is assessed in the application. The bank looks at only
net monthly income, to see if it is three times the mortgage payment. You will typically
need 3 months bank statements, 3 months pay slips or other proof is self-employed
and the latest annual tax documents, such as a P60 for UK tax payers.
|
Actual Views taken from Balconies
|
Typical Return on Investment |
| Purchase price |
£170,000 |
Deposit & fees* |
£73,100 |
7.2% equity growth off-plan |
£12,240 |
7.2% equity growth year 1 |
£13,121 |
7.2% equity growth year 2 |
£14,066 |
7.2% equity growth year 3 |
£15,079 |
7.2% equity growth year 4 |
£16,164 |
7.2% equity growth year 5 |
£17,328 |
Example Net Rental profit over 5
years** |
£4,379 |
| Return on investment = 126%** |
£92,377 |
*The €5000 reservation has not been included in
this figure. VAT, notary fees, legal fees and
mortgage cost are included at 13% of the
purchase price.
**Assumes €13,900 net income pa, mortgage at
5.75% over 25 years Capital & Interest repayment |
Actual Views taken from Balconies
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