2905 euro mortgages

Euro Mortgages - are not normally viable - its normally better to remortgage in the UK - you are quite limited on how much you can borrow.

However - the interest rate being lower - you could possibly top up with a loan in Euro.

Check out the abbey website for instance - or hifx I think do a service too - but I found for myself - UK revenue - allowed you to get further

You can borrow up to 75% of the value of the property and its also possible to borrow up to 35% of the value of restoration - subject as always to your capability to make repayments, and valuations etc. We are currently with one bank in Italy and just changing to another. A friend has recently done this with banca wooolwich and we have several connections in Marche. If you are interested, send me a pm or email and I'll let you have some contact details.

Its easier if you are looking for money on a private house rather than a business, as we were.

[quote=costruttore]apparently they are cheaper than a sterling mortgage[/quote]

[LEFT]Cheaper in that the interest rate will be lower but there are a couple of things you need to bear in mind. Firstly, the initial costs are much higher and potentially wipe out any interest savings for the first couple of years. Second, you will almost certainly only get a repayment mortgage - interest only is very, very rare although banca woolwich do a version of it where you make capital repayments every few years rather than as part of your monthly payment. Finally, you need to consider how you are going to make the monthly repayments. If you are going to pay them from your UK income you will essentially need to make a currency exchange every month and this can be costly and you are potentially vulnerable to exchange rate fluctuations (although you can fix rates for up to 2 years in advance to remove this risk). If, however, you are planning on renting out and will therefore have a euro income, exchange rate fluctuations and costs will be less relevant.[/LEFT]

Also, remember that interest rates have just risen in the euro zone and so the difference in mortgage rates between the UK and Italy is not as great as it used to be.

[QUOTE=costruttore]ciao tutti

Can anyone tell me anything about a euro mortgage ? apparently they are cheaper than a sterling mortgage .I went to look at a property last week near cassino in southern lazio, the price was a bit more than i wanted to pay , put having talked to a financial advisor, he told me i had sufficient funds to remortgage in order to comfortably buy a property.
however the monthly repayment was also more than i wanted to pay. His knowladge was not too good and he told me that he would look into it.
so if anyone has one ,or knows anything about them i would like some advice

grazie[/QUOTE]

the mortgage in euro is till 80% of property value for buy , and/ or 80% of the property value at restoration works end - The restoration works are payed in more SAL ( advanced state of work ) , each SAL is it payed by after mini-expertise maked by a bank survejor - The interest rate , for not italians citizens , is Variable ONLY , the percentage is calculated on euribor 365 days/three monts + Spread - The Spread vary with Mortgage time = more years more Spread percentage - The standard Spread vary by banks , at March is from 1,10% (10 years ) to 1,95% (40 year )

please excuse my english

Banca Wooolwich (or Barclays to you and I) is the place to go. I've just taken one out and it couldn't have worked out better. Suggest you go direct rather than use a UK broker.

They're based in Milan and all speak excellent English. :o

[QUOTE=costruttore]I went to look at a property last week near cassino in southern lazio, [/QUOTE]

Hi, could I hijack the thread and ask whereabouts near Cassino. That's the same vicinty we hope to end up in :o