ITALIAN MORTGAGE FOR FOREIGNERS

Italy has always been perceived as a charming country all over the world: foreign tourists are fascinated by historical cities of art, as well as different Italian landscapes with their breathtaking views, from mountains to coasts of the whole Country. Foreign people coming in Italy fall in love with our Country and our culture and frequently decide to buy a house here. Some of them think about it as a place where moving permanently after retirement, others want a holiday home where spend their leisure time peacefully, others decide to buy in strategic places to rent the property for touristic purposes. However, the purchase of a property in Italy is often limited by several aspects linked to bureaucratic difficulties. Among them, the difficulty in getting a mortgage in Italy is one of the most challenging and foreign clients sometimes even decide to give up on it.

OUR SUPPORT

Top Italian Mortgage has been created with the aim of providing foreign clients with the chance to buy or renovate in Italy, with the support of a mortgage. We address to natural persons (not companies) coming from all over the world, having foreign incomes in different currencies and interested in getting a mortgage in Italy to buy or renovate a property. Top Italian Mortgage is the only Italian company able to offer this service to foreign clients with foreign residence and incomes, offering competence and trustworthiness, reached during our 20-year experience.

HOW WE WORK

Our long-lasting partnerships with the most important Italian banks give us the possibility to elaborate an analysis of the feasibility of a mortgage application rapidly and to process the application from the IT banking systems activated in our offices.
Another important key issue is our cooperation with Italian embassies all over the world to help our clients in the legalization of all the documents required by banks in order to apply for a mortgage.
Our team is composed of consultants and experts in several foreign languages able to assist the client in every step, providing him with bureaucratic support and continuous updates on the processing of the application.

Advantages for Italian Citizens Resident Abroad

Obtaining a mortgage in Italy for an Italian citizen living abroad enrolled in the A.I.R.E. (Registry of Italians Resident Abroad) implies many advantages.
In fact, Italian citizens living abroad can get:

• a positive evaluation by Italian banks, which are less strict towards clients showing a close relationship with the Italian territory than with applicants who live abroad and have foreign incomes;
• significant tax advantages linked to the purchase of the First House in Italy without transferring their residence;
• an easier procedure to get a mortgage.

TOP ITALIAN MORTAGE supports you in finding the best solution available in the Italian banking landscape and guarantees a certified translation service for Italian citizens resident abroad.

The following categories can register at the A.I.R.E.:

• Italian citizens moving abroad for more than 1 year;
• Italian citizens born and living abroad;
• People who obtained Italian citizenship abroad and keep living abroad;

The registration at the A.I.R.E. gives you the possibility to:

• obtain the support of the consular office;
• vote abroad, receiving by mail the necessary documents;
• celebrate a marriage or a civil partnership abroad;
• much more.

Additional information on the A.I.R.E. are available at the dedicated page of the Italian Ministry of Foreign Affairs and International Cooperation official website.

FOREIGN CURRENCY MORTGAGE

The Legislative Decree 21 April 2016 n. 72 introduces in our Testo Unico Bancario the following article.
Art. 120-quaterdecies (Loans financed in foreign currency).
1. If the credit is denominated in a foreign currency (a currency other from the one with which the client earns his salary or with deals his activity aimed at the reimbursement of the loan or a currency other from the legal tender currency in the EU Country where the client has his residence at the signature of the contract) the client has the right to exchange the currency with which his deed is denominated in the following cases and in the following modalities:
• The currency with which the main part of his incomes or the dealing of his activities aimed at the reimbursement is denominated, as specified in the latest creditworthiness assessment related to the credit contract.
• The legal tender currency in the EU Country where the client had his residence at the moment of the signature of the contract or at the moment of the exchange request.
2. The CICR can establish the conditions related to the exchange right on the ''Banca d'Italia'' purpose, especially for:
• The minimum exchange rate variation used at the moment of the signature of the contract, which has not to be higher than the sum specified in the comma 4.
• The eventual all-inclusion fee due to the financier according to the contract agreement.
3. The rate exchange used for the exchange is equivalent with the rate exchange measured by the Central European Bank the day when the exchange request was required, if not differently specified in the contract.
4. If the exchange rate between the client’s currency and Euro exceeds of 20% (compared to the exchange rate in charge at the moment of the signature of the contract), the client, informed by the bank, is entitled to ask to turn his outstanding mortgage into his own currency. This way, the client will not face the exchange risk anymore.

PROPERTY FINDING

Searching for the right property is an important step during the purchase process.
Several difficulties increase if you live abroad. A professional figure having linguistic skills can help you in turn this step into easy, efficient and convenient.
If you have not found your real estate yet, we can get you in touch with experts working all over the national territory: they will be able to turn your needs and expectations into a highly focused and successful research.

LEGAL ASSISTANCE

purchase process implies technical and juridical complexities, especially if a mortgage deed is involved. We collaborate with specialized law firms assisting the client during the most delicate steps of the purchase process (i. e. drafting of the preliminary contract and the purchase and mortgage deeds) to support our clients with the best brokerage advices. This can permit to face the purchase with awareness and reliability.

TRANSLATIONS

Our team can communicate with our clients in the most common languages.
However, during the preliminary activity and the signature of the contract, professional interpreters/translators are involved if the personal documentation is drafted in other languages than the Italian and the client does not know the Italian as well.
You can, otherwise, provide for the translations of your documents independently and rely to experts of your confidence.
If you prefer not to deal with the translations directly, our service of affordable and highly specialised translation/interpreting is at your disposal.