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Italian Mortgages and Leasing – An Overview
At Unity Financial Partners, we are Italy Specialists and we can help our clients to access the widest possible range of mortgage and leasing options for both residential and commercial properties. We work with both overseas and Italian banks to ensure our clients obtain the best possible deal.
Mortgages
A mortgage is the most common method used to buy a property because you do not need to pay out the full value of the property as a cash lump sum to be able to take ownership and either live in or rent out the property. Any increases in the value of the property as well as any rent payments belong to you as long as you are able to fulfil your obligations. In Italy, most properties are purchased “in perpetuity” which means that you can pass the property on to your chosen heirs and dependants.
The effects of the credit crunch have caused many banks and lenders to be more conservative when offering a mortgage. One interesting outcome of this is that Italian banks are now offering highly competitive rates compared to many of the overseas banks because the banking system in Italy is still well capitalized and very stable compared to say The United Kingdom or The United States where mortgage approvals rates are still recovering and often expensive compared to actual underlying interest rates.
Leasing
Unlike a mortgage, a lease is, strictly speaking, a right to use for a defined period of time. There can be some significant advantages for both residential and commercial property.
- Tax Efficiency: All or part of the payment can be tax deductable.
- The lease may be renewable after a specified period of time.
- The remaining lease period can be sold on.
- Many high grade city centre properties can only be acquired via a lease.
Leasing is particularly attractive for business people and companies because of the tax advantages. Because a lease does not confer ownership, for accounting purposes, any properties acquired under a lease are not normally classified as an asset and payments are tax deductable in Italy.
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To find out more about our range of Mortgage and leasing options, please either complete our online quotation by clicking below or contact us today. Rates and costs for mortgages and leasing are subject to status.
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1. No need to buy an Annuity
2. Income paid gross
3. No tax charge on passing assets to Beneficiaries.
more than the surrender value paid by the bank or insurance company who sold you the policy.
Perhaps you need access to cash or would like to look at more suitable investment options.
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