Loans are usually available for up to 75 % of the value of a property for purchase and the property is given a valuation survey much the same as Lenders carry out in the UK.
When buying and restoring or even building a new property from scratch a property, the monies are released at different stages of the works: some at completion and the rest in two, three or even four instalments according to the mutually agreed schedule with the Lender. So anyone thinking of purchasing a property in Italy no longer needs to be wary of taking out a mortgage in Italy and in fact one of the biggest lenders is Barclays Bank with its specialist lending offices located in Milan. They provide a quick and efficient service and excellent English speaking staff to assist clients with the whole buying process in Italy.

The Italian system for the legal side of purchasing a property differs greatly fom the system in the UK when solicitors do the majority of the paperwork and only a few phone calls are signatures on documents are normally required. In Italy all the work is carried out by a public notary who carries out searches of title and certifies the deeds and then provides for the registration of the mortgage in the Italian Register Office which is normally in the provincial capital such as Ascoli Piceno in southern Le Marche.

All notary fees and registration taxes all loans secured by mortgages are subject to Italian taxation and purchasers should always ask for an estimate of the costs involved and take them into consideration when budgeting for the purchse of a property in Italy. Residents in Italy and first-homes owners pay a 0,25 % tax and non residents and/or second-homes owners pay a 2% tax . Only mortgages secured on first homes benefit from another tax relief, which is an allowance deductible each year of 19% from income tax.