Financing Your Calabria Property Purchase

If you have yet to decide how to finance your purchase we can help with some basic advice and tips.  Most clients consider the following options:

• Cash Purchase
  
• Purchase with a loan secured on UK assets such as property
  
• An Italian Mortgage
  
• A mixture of the above
  
• A joint purchase with friends or family
  

Currently Italian mortgage rates are at very competitive levels but, while Italy’s banking systems has not been directly affected at all by the recent economic woes, realistic loan to value rates have still dropped from an achievable 80% for overseas purchasers to more in the region of 60% to 70% and subject to suitable proof of income.  Generally speaking if you meet the necessary criteria we advise you to plan for 60%.  It may well be however that the lending situation will improve and with Calabria well poised for property market growth this would leave you well placed.

Italy was less affected by recent events in world markets due to Italian banks having always simply applied a realistic approach to ’affordability’.  They have and are totally happy to lend but have looked to check affordability for applicants.   Ultimately, this has been in everyone’s interests as can be seen now. 

We are not IFAs nor are we mortgage brokers but have good contacts for both if you do not have your own.  In addition Brokers of Italian mortgage - both UK and Italian based - a number of UK banks will now also lend and we are happy to supply eligibility criteria for these institutions.  

All Calabria Property will support and advise you throughout the whole process - 
contact us today free on 0800 612 9504 for details.