Getting a mortgage in Italy as a foreigner: Complete guide

The contents of this article is for informational purposes only and does not constitute legal or tax advice. Decisions related to tax should be made after thorough research, consultation and verification from a qualified financial and legal advisor.

Buying a property in Italy? Whether it’s a holiday home, investment property or you’re moving to Italy permanently, you’ll need to sort your financing.

We’re here to help, with the complete guide to getting a mortgage in Italy for foreigners. This includes info for UK expats and non-residents on the types of mortgages available, interest rates, fees, eligibility requirements and how to apply.

And if you’re looking for ways to save money on currency exchange when sending a down payment or mortgage fees to Italy, check out the money services provider Wise.

You can send large transfers with Wise for low fees* and mid-market exchange rates - making it a great option if you’re sending a secure international transfer.

In this article:

Can you get a mortgage in Italy as a non-resident? Getting a mortgage in Italy from the UK after Brexit Mortgage eligibility criteria for UK citizens in Italy Is it easy to get a mortgage in Italy? Step by step guide on how to apply for an Italian mortgage as a foreigner Which documents do you need as a non-resident? How long does it take to get a mortgage in Italy? Fees and costs for getting a mortgage in Italy Valuation fees Mortgage arrangement fees Notary fees Other fees and costs Italian banks or lenders offering mortgages to foreigners Mortgage rates in Italy Can you get a UK mortgage to buy property in Italy? Do banks offer Buy-to-Let (BTL) mortgages in Italy? Refinancing a mortgage in Italy Types of mortgages in Italy Fixed rate mortgages Variable rate mortgages Green mortgages Final tips for getting a mortgage in Italy as a non-resident Manage your overseas property costs with Wise FAQs Do I need an Italian bank account to buy a house in Italy? Can you get a 100% mortgage in Italy? What’s the age limit for mortgages in Italy?

Can you get a mortgage in Italy as a non-resident?

Italian banks and mortgage providers lend to international buyers as well as residents. So, it should be possible to get a local mortgage so you can buy your Italian property, even if you’re not living there.

However, you may face some challenges as a non-resident buyer, as well as some additional requirements and restrictions.

Here are the key things you need to know:

• You may only be able to borrow up to 60% of the property’s value, compared to the 80% usually available for Italian residents and citizens¹
• You may have to use a specialist broker to find and apply for a suitable mortgage, as non-resident mortgages in Italy aren’t always widely advertised and it isn’t always possible to apply online²
• It may be easier to apply for a mortgage before you move to Italy rather than after, as Italian banks often want evidence of 2-5 years income and credit history before they’ll consider lending.²

However, it all depends on the individual lender and their eligibility criteria and processes. You may need to contact a few banks and lenders for more information.

Getting a mortgage in Italy from the UK after Brexit

You may be wondering whether it’s more difficult for British citizens to get a mortgage in Italy following the UK’s exit from the European Union.

Thankfully, it hasn’t - Italian mortgage lenders are willing to consider applications from both residents and non-residents, wherever they come from.

However, there is something called the European Mortgage Directive which could make things a little trickier. This EU law established a single market for mortgages across EU countries, but it can also make it more difficult for foreign nationals to get a mortgage if they don’t earn their income in euros (EUR).¹

You may need to seek professional advice if you find this to be a stumbling block when applying to lenders.

Mortgage eligibility criteria for UK citizens in Italy

The eligibility criteria for mortgage applications will vary between lenders. UK citizens are subject to similar requirements as EU nationals, even after Brexit.

You’ll usually need to meet the following requirements:

• You have the required funds to afford the deposit, which could be as high as 40% for non-residents and foreign nationals¹
• You mustn’t be over 75 years old at the end of the mortgage term¹
• You have an Italian bank account with which to make mortgage repayments.¹
• You have a steady income, of which mortgage payments will not exceed 35%²
• You have 2-5 years of clean credit history and stable, provable income²
• The property you’re buying is available for purchase, is legally owned and meets other lender-specific criteria.²

Is it easy to get a mortgage in Italy?

Even if you meet the eligibility criteria, getting a mortgage in Italy can be a complicated and time-consuming process involving plenty of paperwork.

Like in other countries, the approval process for mortgages in Italy is heavily focused on affordability and financial risk. You’ll need to provide accurate and extensive details about your income, earnings, outgoings and assets.

There are some additional challenges that can make it more difficult.

For starters, you may struggle if you’re not a fluent Italian speaker. It could be sensible to enlist the services of an English-speaking broker, translator or Italian-speaking friend. And if your documents are in another language, they might need to be translated and certified.

You may also face complications if you have a poor credit history or too many debts.

Step by step guide on how to apply for an Italian mortgage as a foreigner

To give you an idea of what to expect, here’s how to get a mortgage in Italy, step-by-step:

1. Get an Italian tax code (Codice Fiscale). This code is needed for all financial transactions in Italy.³ You can get one for free as a UK resident too - you’ll need to apply online with the Italian Consulate in the UK.
2. Find a mortgage. It’s recommended to use a specialist broker to find and apply for a suitable mortgage, but you can also apply directly with a bank or lender.
3. Open an Italian bank account. You’ll need your Codice Fiscale in order to do this.
4. Start your property search. Once you’ve had an offer accepted, you’ll sign the preliminary agreement and pay a deposit.
5. Gather your documentation, making sure everything is translated into Italian and notarised if needed.
6. Submit your mortgage application with the bank or lender.
7. The lender is likely to carry out a valuation or appraisal on the property - a fee may apply for this.
8. The lender will issue you with a mortgage offer. Read the details, terms and conditions carefully before accepting.
9. Make arrangements for transferring funds, so you can pay any mortgage application fees.
10. Sign the mortgage agreement in the presence of a notary (notaio).

Which documents do you need as a non-resident?

The exact documents you’ll need to apply for a mortgage in Italy will vary between lenders.

But here’s an idea of what you’re likely to need:¹

• Your completed mortgage application form
• Copies of your UK passport
• Your Codice Fiscale (Italian tax code)
• Proof of income - such as recent payslips, employment contracts and tax returns. If you’re self-employed, you’ll need financial statements and tax returns.
• Recent bank statements
• Proof of address, such as recent utility bills
• The signed preliminary sales agreement for the property you’re buying.

Remember that all of your documents will need to be translated and notarised.

How long does it take to get a mortgage in Italy?

On average, it takes around 8-10 weeks to get approved for a mortgage in Italy.⁴

It’s crucial to make sure all your paperwork is in order before starting the process, to help you avoid any delays.

Fees and costs for getting a mortgage in Italy

Applying for a mortgage in Italy usually involves some fees. The main ones to know about are valuation fees, arrangement fees and notary fees. If you use a broker, they will also charge a fee.

Valuation fees

If the lender requires a valuation of the property, you can expect a valuation survey fee of between €300 and €500 EUR.⁵

It’s important to note that this valuation survey only looks at the value of the property, and won’t identify any structural, maintenance or other issues. You’ll need to commission your own building survey for that.

Mortgage arrangement fees

This is the main fee paid to the lender for taking out the mortgage.

The exact amount varies by lender, mortgage product and the size of the loan. But you can expect to pay around 0.5% to 2% of the loan amount in arrangement fees.⁵

Notary fees

In Italy, the notary (notaio) plays a key role in property transactions. This includes the signing of the mortgage agreement, along with other work.

The fee for a notary’s services is typically around 1% of the total mortgage amount.⁵

Other fees and costs

You may also encounter some of these other costs when applying for a mortgage in Italy:

• Broker fees (if you’re using a broker) - these costs vary by provider, so you’ll need to get quotes. But the fee is usually between 1.5% and 4% of the loan amount.⁵
• Transfer fees - if you need to make payments between countries to pay the down payment or the fees above, you may incur fees.

Italian banks or lenders offering mortgages to foreigners

If you’re an Italian resident, you should have the same choice of mortgages as an Italian citizen. The requirements for application are also likely to be similar.

But if you’re not living there, you might find that you have slightly fewer options as a foreigner. You may also have to meet a higher eligibility threshold.

To help you start your search, here are a few Italian banks which do offer mortgages to non-residents and foreign expats:⁶

• BNP Paribas
• UniCredit
• Intesa Sanpaolo
• Monte dei Paschi di Siena
• Banco BPM.

Mortgage rates in Italy

As of 2025, the average mortgage interest rate in Italy is 2.7% to 4%.⁷

However, it varies considerably by lender and product type. The rate you’re offered will also depend on your circumstances and eligibility, the amount you’re borrowing and how much of a deposit you have.

And remember that mortgage rates fluctuate regularly - so you’ll need to check the updated rates when you’re ready to apply for your mortgage.

Can you get a UK mortgage to buy property in Italy?

You might find it difficult to get a mortgage in the UK to finance your property purchase in Italy. Not many UK banks and lenders offer what are often known as ‘overseas mortgages’ secured against property in other countries.

You could potentially look at remortgaging an existing property you own in the UK, borrowing more to raise funds for your purchase in Italy.

Crucially, you should only do this if you can afford the repayments. It could also be a good idea to seek professional financial advice first.

Do banks offer Buy-to-Let (BTL) mortgages in Italy?

Mortgages in Italy work a little differently to here in the UK.

Lenders there don’t place restrictions on how you can use your property once you’ve purchased it, so there’s not really any such thing as a buy-to-let mortgage in Italy.³

Refinancing a mortgage in Italy

It’s also possible to refinance your mortgage in Italy. You can either transfer your existing mortgage to a new provider, or renegotiate the terms with your existing lender. You should be able to do it without incurring any extra costs either, thanks to a law introduced in Italy in 2007.⁵

Remortgaging can also help you borrow more money, such as to fund another property purchase without having to sell your first property.

You’ll just need to make sure you can afford the repayments and aren’t overstretching yourself.

Types of mortgages in Italy

You can find many of the same types of mortgage in Italy as in the UK, with two of the most common options being fixed term and variable rate mortgages. Another popular option is a green mortgage.

Here’s a little more about each:

Fixed rate mortgages

One of the most popular repayment mortgages around, fixed-rate deals typically offer low rates and greater financial security.

In Italy, the interest rate for this kind of mortgage tends to stay the same for the entire term, rather than just a set number of years like in some countries including the UK.⁵

Potential downsides include missing out on cheaper repayments if rates go down, and getting a higher interest rate compared to variable rate mortgages.

Variable rate mortgages

In Italy, variable rate mortgages are linked to the European InterBank Offered rate (EURIBOR) set by the European Central Bank.⁵

This means the rate can fluctuate, so you could end up paying more or less in monthly repayments.

Green mortgages

Green mortgages are growing in popularity in Italy. They offer cheaper rates for properties with high energy efficiency ratings, and some lenders also offer better rates to homeowners looking to make eco improvements to their property.

Final tips for getting a mortgage in Italy as a non-resident

To stand the best chance of getting accepted for an Italian mortgage as a non-resident, bear these tips in mind:

• Consider applying before you move to Italy, then you can use your UK credit history (and income history) to prove your creditworthiness to Italian lenders. If you wait until after you move, you’ll be starting from scratch with no credit history in the country.
• Ensure you have a large enough deposit.
• Get tailored advice for foreign applicants, to help you find suitable non-resident mortgages in Italy.
• Make sure you have all your documentation in order, especially relating to income, employment and savings. You may also need to have documents translated into Italian and certified.

Manage your overseas property costs with Wise

If you’re sending your deposit and mortgage fees to Italy from the UK, you may incur hefty transfer and exchange fees when converting your British pounds to euros (EUR). This is where Wise and the Wise account can help you save money.

Open a Wise account online and you can start managing your money in 40+ currencies (including GBP and EUR). It’s not a bank account and offers customers an alternative option to a conventional bank account, but has similar features.

Here’s an overview of the main benefits for using Wise:
Fast and easy setup with no physical paperwork Low, transparent fees* Mid-market exchange rate for currency conversions Fully trackable transfers Fast transfer times Advanced security features with two-factor authentication and real-time notifications Dedicated support for large transfers

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FAQs

Here are some of the most commonly asked questions:

Do I need an Italian bank account to buy a house in Italy?

Yes, you’ll usually need to open an Italian bank account to buy a home and get a mortgage in Italy. Even where it’s not mandatory, having an international account in euros could make the process of buying and selling property much easier.

Can you get a 100% mortgage in Italy?

It’s difficult but not impossible to get a 100% mortgage in Italy. However, it’s not usually possible as a foreign citizen or non-resident, as lenders typically only loan-to-value (LTV) ratios of up to 60% to these applicants.

What’s the age limit for mortgages in Italy?

Lenders in Italy may refuse applications from people who will be over 75 years old at the end of the mortgage term.

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Sources used:

1. Giambrone Law - Applying for an Italian Mortgage A Guide for British Citizens
2. Experts for Expats - A guide to Italian mortgages for expats and non-Italians
3. Online Mortgage Advisor - Mortgages In Italy
4. Italy Property Guides - Mortgages in Italy
5. Expatica - Mortgages in Italy: home loans and interest rates in 2025
6. Real Point Property - Unlocking Your Italian Dream: A Foreign Buyer’s Mortgage Guide
7. Traverse International Finance - Italian Mortgage Factsheet and FAQ

Sources last checked on date: 20-Oct-2025