 | | 
20.10.2020, 18:08
|  | Forum Legend | | Join Date: Jan 2008 Location: SZ
Posts: 3,893
Groaned at 379 Times in 269 Posts
Thanked 8,180 Times in 3,494 Posts
| | Mortgage / Italy for non-residents
Hi all
I am interested in buying an apartment in Italy, Alto Adige/Suedtirol region. I need to find a bank that offers mortgages for non-residents.
So far I have identified local Raiffeisen branch who offer this quite easily, but their rates are very unimpressive. They seem however to have a very relaxed vetting approach in that they pretty much immediately offer 60% as a loan without looking too much at you unless the place looks reasonably priced.
Heard Intesa finance non-residents. Rates good, 20 years at 0.6/0.7% but lengthy process and bureacratic. Any experience?
Any other ideas?
Thank you
| 
20.10.2020, 20:51
|  | Member | | Join Date: Apr 2019 Location: Weisslingen, ZH
Posts: 121
Groaned at 1 Time in 1 Post
Thanked 146 Times in 76 Posts
| | Re: Mortgage / Italy for non-residents
Im no expert in this but Italian banks can and do offer mortgages to non Italian residents, though also keep in mind taxes on the purchase are much higher if you're non resident in Italy. I'd also be researching which Italian banks would potentially lend to you
| 
20.10.2020, 20:57
|  | Forum Legend | | Join Date: Jan 2008 Location: SZ
Posts: 3,893
Groaned at 379 Times in 269 Posts
Thanked 8,180 Times in 3,494 Posts
| | Re: Mortgage / Italy for non-residents | Quote: | |  | | | Im no expert in this but Italian banks can and do offer mortgages to non Italian residents, though also keep in mind taxes on the purchase are much higher if you're non resident in Italy. I'd also be researching which Italian banks would potentially lend to you | | | | | Well, yeah, that kind of was the question | 
20.10.2020, 21:19
|  | Member | | Join Date: Apr 2019 Location: Weisslingen, ZH
Posts: 121
Groaned at 1 Time in 1 Post
Thanked 146 Times in 76 Posts
| | Re: Mortgage / Italy for non-residents | Quote: | |  | | | Well, yeah, that kind of was the question  | | | | | Ok I was under the impression you were only looking at Swiss banks, sorry! I'm sure there will be lots of Italian banks looking to offer mortgages, perhaps others could give some good suggestions....
| 
20.10.2020, 21:39
|  | Forum Legend | | Join Date: Jan 2008 Location: SZ
Posts: 3,893
Groaned at 379 Times in 269 Posts
Thanked 8,180 Times in 3,494 Posts
| | Re: Mortgage / Italy for non-residents
Yes, I mean Italian banks that offer mortgages to non-residents. Swiss banks won't finance real estate abroad.
| This user would like to thank komsomolez for this useful post: | | 
21.10.2020, 11:50
|  | Forum Veteran | | Join Date: Dec 2016 Location: Zurich
Posts: 1,815
Groaned at 15 Times in 14 Posts
Thanked 1,883 Times in 813 Posts
| | Re: Mortgage / Italy for non-residents | Quote: | |  | | | Yes, I mean Italian banks that offer mortgages to non-residents. Swiss banks won't finance real estate abroad. | | | | | That's not true - I recently purchased my second UK-property with a Swiss mortgage. It really depends on the bank - some are more flexible.
| This user would like to thank Spinal for this useful post: | | 
21.10.2020, 12:02
|  | Forum Veteran | | Join Date: Jul 2012 Location: Zurich
Posts: 1,027
Groaned at 39 Times in 24 Posts
Thanked 1,651 Times in 653 Posts
| | Re: Mortgage / Italy for non-residents
You got a mortgage on a UK property through retail banking in CH?
In what currency?
| 
21.10.2020, 12:10
|  | Forum Veteran | | Join Date: Dec 2016 Location: Zurich
Posts: 1,815
Groaned at 15 Times in 14 Posts
Thanked 1,883 Times in 813 Posts
| | Re: Mortgage / Italy for non-residents | Quote: | |  | | | You got a mortgage on a UK property through retail banking in CH?
In what currency? | | | | | GBP - with Swiss interest rates.
I have three accounts (in USD, CHF and GBP respectively). Trying to move all my mortgages here, as the rates in the UK (especially with the current dip in rentals in London) is making the buy-to-let properties not very efficient.
| 
21.10.2020, 12:16
|  | Forum Legend | | Join Date: Apr 2010 Location: Verbier
Posts: 21,376
Groaned at 461 Times in 352 Posts
Thanked 23,091 Times in 11,824 Posts
| | Re: Mortgage / Italy for non-residents | Quote: | |  | | | GBP - with Swiss interest rates.
I have three accounts (in USD, CHF and GBP respectively). Trying to move all my mortgages here, as the rates in the UK (especially with the current dip in rentals in London) is making the buy-to-let properties not very efficient. | | | | | Clearly the prices are way too high in the UK v cost of borrowing & rents.
I looked at BTL mortgages & rates quoted were around 5% for a 5 year fix, which implies prices need to halve, quite likely as London costs 12 times earnings of the purchaser or more, this dropped to 2.5 times the earnings of the purchaser in the 90's slump. Both multiples are somewhat extremes.
| 
21.10.2020, 12:33
|  | Forum Veteran | | Join Date: Jul 2012 Location: Zurich
Posts: 1,027
Groaned at 39 Times in 24 Posts
Thanked 1,651 Times in 653 Posts
| | Re: Mortgage / Italy for non-residents | Quote: | |  | | | GBP - with Swiss interest rates.
I have three accounts (in USD, CHF and GBP respectively). Trying to move all my mortgages here, as the rates in the UK (especially with the current dip in rentals in London) is making the buy-to-let properties not very efficient. | | | | | I thought that was not possible in retail banking. Are you sure it's not a private banking offering?
What's the bank?
| 
21.10.2020, 12:59
|  | Forum Veteran | | Join Date: Dec 2016 Location: Zurich
Posts: 1,815
Groaned at 15 Times in 14 Posts
Thanked 1,883 Times in 813 Posts
| | Re: Mortgage / Italy for non-residents | Quote: | |  | | | I thought that was not possible in retail banking. Are you sure it's not a private banking offering?
What's the bank? | | | | | Habib - private banking.
| 
21.10.2020, 13:46
| Forum Legend | | Join Date: Jul 2020 Location: Frick, Aargau
Posts: 2,876
Groaned at 62 Times in 50 Posts
Thanked 4,070 Times in 1,901 Posts
| | Re: Mortgage / Italy for non-residents | Quote: | |  | | | Habib - private banking. | | | | | Do you need to be an existing customer? If so, is it expensive to become one?
| 
21.10.2020, 15:23
|  | Forum Veteran | | Join Date: Dec 2016 Location: Zurich
Posts: 1,815
Groaned at 15 Times in 14 Posts
Thanked 1,883 Times in 813 Posts
| | Re: Mortgage / Italy for non-residents | Quote: | |  | | | Do you need to be an existing customer? If so, is it expensive to become one? | | | | | No clue... I've been a customer for years...
| 
21.10.2020, 17:13
|  | Forum Veteran | | Join Date: Jul 2012 Location: Zurich
Posts: 1,027
Groaned at 39 Times in 24 Posts
Thanked 1,651 Times in 653 Posts
| | Re: Mortgage / Italy for non-residents
OK that explains it.
Private banking is a whole different animal, these kinds of products are not available to everyone.
Thanks for confirming | 
21.10.2020, 17:44
|  | Forum Veteran | | Join Date: May 2009 Location: Pfäffikon SZ
Posts: 2,486
Groaned at 26 Times in 25 Posts
Thanked 3,422 Times in 1,449 Posts
| | Re: Mortgage / Italy for non-residents
Looking at their fee model and product offering, Habib are targeting clients with CHF 250k of investable assets upwards, but aren‘t really going for big fish, as their fee schedules top out at over CHF 5m. If you have less than CHF 1m on account with them they charge CHF 100 per quarter for account fees (I suspect that means CHF 1m invested, as they‘d be nuts to incentivise holding CHF with the negative rates).
| This user would like to thank eyebeebe for this useful post: | |
Currently Active Users Viewing This Thread: 1 (0 members and 1 guests) | | Thread Tools | | Display Modes | Linear Mode |
Posting Rules
| You may not post new threads You may not post replies You may not post attachments You may not edit your posts HTML code is Off | | | All times are GMT +2. The time now is 22:05. | |