564 Renovation Mortgages

have you considered extending the mortgage on your UK home? - Thats how I bought my Italian property

Agree. My advice would be to raise money in the UK. You'll find it a lot easier.

I concur with Alan and Wishful thinker.

We have a client who obtained a renovation mortgage with an Italian bank (not the one mentioned). They didn't get the full amount of the loan.

this will be our first house mortgage so the option of extending our mortgage doesn't apply... anyone with any other ideas...

hi sammyroo

i am in the same position , i also own property and i am about to build in italy .. i simply took out a line of credit which here in canada is 1 percent above prime rate ..

How much are you looking for?

I know a broker in UK that does them, min 75k euro, not worth their while doing anything less, I think that will apply generally to any others in the field.

QUOTE=sammyroo]Hi, we are based in london but own a property outright in italia and are currently looking for a very small renovation mortgage. We have spoken to banca woolwich - :p confusing and trying to make us take out more than we want. Can anyone recommend a broker etc that did this in a very simple manner without trying their fees being incredible steep[/QUOTE]

:D

please go to my website [url]www.lifeinitaly.it[/url]
here you can more info

the actually (June 2005) tax rate for renovation
are variable = euribor 12 month + 1,30 (10 year )/ 1,50 (15 y) / 1,60 (20 y) / 1,80 (25 to 30 y)
Fixed tax rate 5,35 (15 y ) - 5,60 (20 y ) - 5,95 (25 to 30 y)

good day , Ugo

If you want a loan from an italian bank try Unicredit.
They are suppose to be the ones with the best rates