Bank loans for property purchase in Italy

If you are not Italian or Italian resident and you are interested in buying, restoring or refurbishing an Italian property you can apply for a bank loan. If you are an EU citizen, being resident in Italy is not at all a legal requirement to obtain the loan, however, it may be considered, by the lender, as an additional guarantee for repayment.

In general, the procedure to apply for a lease in Italy consists of the submission of adequate documentation, by the borrower, aiming to provide evidence about the sustainability of the mortgage.
While, if you are a non-EU citizen, a valid residence permit is required. A part from that the documentation to be submitted is generally the same required for Italian citizens. In particular, the documents shall certify the work activity and the income position, usually the last pay slips (if any) or individual tax return, and the employment contract (if any) is also submitted.

Keep in mind that the paperwork required can be overwhelming, also considering that several documents may not be translated officially, and that different rules may apply depending on the lease type and the nationality of the applicant.          
VGS Lawyers can assist you by suggesting among a range of banks and by helping to negotiate the bank loan agreement and the relevant security package, on your behalf. Our Team will also help you to open an Italian bank account, as often required by banks.

For further information please contact us or leave your contact details and you will be contacted within 24 hours.