9977 mortgage advice please

Mortgage in Italy to be can arranged only from bank with offices in Italy , regularly scheduled at ABI ( italian bank association) .

I extended the mortgage on my existing UK home to by my holiday home in Italy 4 years ago

Benefits -
1. then it was easy to arrange [not so sure now]
2..No worries about changes in exchange rates

Minus Points
1. none really, at the time [but now could be a bad time to convert stirling to Euros]
2. Italian mortgage rates could be cheaper than UK rates

thankyou for the replys so far :smile:

We bought our property in Sardinia 2 years ago and remortgaged our property in th UK to finance it, which at the time was better and a lot less hassle to arrange. Whereabouts in Sardinia are you buying?
JoJo

[quote=alan h;92983]I extended the mortgage on my existing UK home to by my holiday home in Italy 4 years ago[/quote]

please explain : for mortgage extension you mean equity mortgage on uk home with loan guarantee (mortgage) scheduled in uk ?

[quote=jojo;93007]Hi

Hi JoJo we are looking at either Vallerdoria area, Castersardo or possibly Stintino so a few diffrent options :winki: thanks for your advice i am starting to think that may be the best way to go

[quote=wrighty;92965]hi folks we are an english couple looking to purchase a property in Sardinia, we will be looking at a small mortgage but have little or no idea on where to start, do we get an english mortgage or italian - any advice at all would be greatly appreciated

thanks a lot :smile:[/quote]
Try this:
[url=http://www.mutuionline.it]MutuiOnline-Confronta mutui di 40 banche. Mutuo casa ai migliori tassi[/url]

Look for the Union Jack on the right or go directly to:
[url=http://www.mutuionline.it/home/indexnonresidents.asp]MutuiOnline - Home - Mortgages for non-residents[/url]

Italian mortgages are generally at slightly lower rates than in the UK but the extra costs (including E.1000+ for the notary and you'll also probably need an interpreter) make them more expensive in the end. Barclays (Woolwich) also do mortgages here (and they speak English which can help):
[url=http://www.bancawoolwich.it/]Banca Woolwich - Mutui Casa[/url]
The bureaucracy tends to be more complicated than using a local bank found through Mutui Online but if you don't speak Italian it can be a lot easier. Try both!

[URL="http://www.picenehomes.com"]Picene Homes[/URL]

Before you commit, have a look at properties down south, we have bought just outside San Priamo, near to Muravera. My family are from the north and some of my members have houses in Valledoria and Castlesardo. When we were looking there was quite a marked difference in prices and we found it a lot cheaper in the south, cheaper standard of living and better climate, and of course you have easyjet flying in and connections through Italy with Ryanair. There is a lot more infrastructure development and European money being thrown at the South. If you need more advice then feel free to ask.

Regards

JoJo

thanks folks, thanks JoJo we were basically looking atthe north because RyanAir fly from Liverpool to Alghero but i will take your advice and have a look at northern UK flights to the south of Sardinia, any other areas you would reccomend looking at?

thanks again

[quote=wrighty;93196]thanks folks, thanks JoJo we were basically looking atthe north because RyanAir fly from Liverpool to Alghero but i will take your advice and have a look at northern UK flights to the south of Sardinia, any other areas you would reccomend looking at?

thanks again[/quote]

I have only been to Sardegna three times but we liked the Cabras & Tharros areas particularly. Tharros is worth visiting on it's own, just to walk along a real roman road. Take your cozzies, the beach is lovely. You can drive from one end of the country in about 4 hours (from memory) so you can arrive in Alghero & leave by Cagliari or vice versa.
Cagliari airport is nice with really good food. People arrive from all over the nearby industrial area just to have lunch!
Salve

[quote=Giangiacomo;93158]Try this:
Italian mortgages are generally at slightly lower rates than in the UK but the extra costs (including E.1000+ for the notary and you'll also probably need an interpreter) make them more expensive in the end. ...[/quote]

Notary fees do not are a mortgage expenses , you has to pay it even for purchasing ,if you make a mortgage at purchasing time, most of times the notary apply to you lowest expenses for mortgage...
mortgage expenses are :
1) bank expenses (investigation from 0,50% to 1% of the mortgage required amount - depend to bank by bank , bank officer signature, mortgage payment at signature , RID = monthly expenses for direct debit payment)
2) bank survejor expertise , on the italian property to buy or restore or build or refinance
3) fire insurance
4) italian mortgage tax ( 0,25% if you buy as prima casa or 2% if you buy as seconda casa / holidays home) .

Italian mortgage contract has to signed in italian , by an italian speacking and uderstanding person . Yet , some bank allow to use a proxy power = you can make a proxy to your's trustly person , that sign the mortgage for you - the same person can to traslate to you the mortgage contract , but the mortgage contract valid for italian's laws is it only that in italian language -

NOTE: making mortgages to foreign buyers to ask a few knowledges on foreign financial documents ( as p60, inland revenue modules, Certificat de salaire, Lohnausweis für Steuererklärung ...) , pay slips and job contracts ( particularly allowances) are differents by italians , not all bank accept documents on foreign languages - Most Important (1) : some countryes do not have a " accordo di reciprocità" with Italy = do not possible buy property in italy and make mortgage, and so on..
For all above reason my advice is do not provide mortgage by oneself , but use a specialist on this work .

(1) [url=http://www.esteri.it/MAE/EN/Ministero/Servizi/Stranieri/default.htm?LANG=EN]Ministry of Foreign Affairs - Foreign Nationals - Services for Foreign Nationals[/url]

9977 mortgage advice please

mortgage in Italy