|
|
Mortgages
Mortgages: documents required
Mortgages: tax benefits
Tools
|
Mortgages
Purpose of mortgage
- to purchase and/or to renovate a real estate.
- to switch mortgage arranged with another financial institution
- to purchase a second home, occupied real estate, shops, offices, garages.
- to consolidate the debts with other banks or financial institutions.
- to cover the material and/or investment expenses.
Amount and period of financing
Financing can be up to 100% of the real estate's value. The period of financing can last up to maximum 40 years.
Interest rate
The interest rate of mortgage can be fixed , variable and mixed .
The fixed interest rate is advisable when a steady rise of interest rates is expected.
The variable interest rate can be taken in consideration when interest rates are expected to remain steady or to decrease.
The mixed interest rate can be a compromise between the two earlier mentioned interest rates when the forecast of interest rate trends results uncertain.
Requirements for application
• Minimum 18 years of age – maximum 80 years of age when finishing repayment;
• Freelancers which are operative from at least 2 years ;
• Employees with an fixed-term contract which results valid for at least another 4 months ;
• Individuals that perceive income (such as temp employees, pensionars, etc.);
• Non-EU citizens resident in Italy for at least 2 years with valid Permit of Stay. |
Mortgages: documents required
Depending on family and working situation the following documents need to be provided:
Personal details:
• Italian identity card / tax number
• Certificato contestuale
• Deposit of marriage
• Deposit of divorce / separation
• Permit of stay
Documents required per profession and applicant:
Employed / pensioners:
• State of service
• Payslip (previous two months)
• Mod. CUD
• Mod. CUD e libretto pensione
• Mod. 730 and / or mod. UNICO including payments and receipt of presentation
• Updated bankslip and bank balance
• Updated bankslip of shares
• Contract of ongoing mortgage and receipts of last two repayments
• Copy of ongoing loans
• Last receipt of rent paid
Self-employed:
• C.C.I.A.A.
• Registration in the Professional Register
• Mod. UNICO (including payments of previous two years and receipt of presentation)
• Updated accounting register
• IVA declaration
• Ongoing working contracts
• Updated bankslip and bank balance
• Updated bankslip of shares
• Contract of ongoing mortgage and receipts of last two repayments
• Copy of ongoing loans
• Last receipt of rent paid
Business partners in partnership or in corporation
• Personal Mod. UNICO (including payments of previous two years and receipt of presentation)
• Updated bankslip and bank balance
• Updated bankslip of shares
• Contract of ongoing mortgage and receipts of last two repayments
• Copy of ongoing personal loans
• Last receipt of (private) rent paid
• Certificate of in corporation
• C.C.I.A.A. registration
• Last two updated and complete accounting registers
• List of company bank contracts and financial commitments
Business administrators not in partnership
• Payslip (previous two months)
• Personal Mod. UNICO (including payments of previous two years and receipt of presentation)
• Business report of established rewards
• Updated bankslip and bank balance
• Updated bankslip of shares
• Contract of ongoing mortgage and receipts of last two repayments
• Copy of ongoing personal loans
• Last receipt of rent paid
Property related documents:
For purchase purposes:
• Purchase proposal / agreement
• Real estate's deed of origin (Atto provenienza immobile)
• Cadastral files (Schede catastali)
• Tax Amnesty with relative penalties paid(Condono edilizio con relative oblazioni pagate)
For renovation purposes:
• Real estate's deed of origin (Atto provenienza immobile)
• Cadastral files (Schede catastali)
• Detailed budget plan of renovation work
• Permission for renovation / construction or D.I.A. approval
For debt consolidation purposes:
• Mortgage contract
For equity release purposes:
• Real estate's deed of origin (Atto provenienza immobile)
• Cadastral files (Schede catastali) |
Mortgages: tax benefits
Tax benefits The financial cost of a mortgage can be reduced due to tax reduction granted to mortgagees. These reductions are however only refered to "first home" purchase destinated for main residence.
• The passive interest rates of mortgages for first home purposes can be deducted in a measure of 19% of the interests paid in a year for a maximum amount of € 3615,20;
• The passive interest rates of mortgages for renovation and construction purposes can be deducted in a measure of 19% of the interests paid in a year for a maximum amount of € 2582,28.
The substitute tax (imposta sostitutiva) on the other hand
• differs depending on whether it's a mortgage (purchase and / or renovation, construction) for first main residence or secondary residence
The first main residence requirement is valid only when the mortgagee and holder of real estate are the same person
0,25 % for all related to first main residences
2% for all related to secondary residences
The charges for purchase and sale are:
• REGISTER TAX – in case whom sales is a natural person (3%)
• MORTGAGE TAX (fixed measure for first main residence purchase, € 168, and percentage measure in other cases)
• CADASTRAL TAX (fixed measure for first main residence purchase, € 168, and percentage measure in other cases. |
Tools |
| 4/6/2008: |
| EURIRS |
| 5 |
4,72 % |
| 10 |
4,81 % |
| 15 |
4,94 % |
| 20 |
4,98
% |
| 25 |
4,97% |
| 30 |
4,94% |
| 40 |
4,87% |
| 50 |
4,89% |
| EURIBOR |
|
|
360 |
365 |
| 1 |
4,46% |
4,52% |
| 3 |
4,86% |
4,93% |
| 6 |
4,93% |
5,00% |
|
|
|
|
|
|
|
|
