Rates start from as little as 2.50%, and mortgages of up to 80% loan to value are available.
Conti says that Italy remains one of the top locations for UK buyers and is widely considered as a good long term investment.
Clare Nessling, Conti’s Operations Director, says:
“The Italian property market has remained remarkably intact, primarily due to the country never being heavily involved in the sub-prime lending market. Nor has it suffered the effects of the over-development of property, like Spain for example. These new rates will therefore provide an even greater incentive to buy property there.”
All mortgage applications will be processed and underwritten by Conti’s teams of specialists, who know the exact mortgage application requirements for each overseas lender. It provides a complete hand-holding service, advising on the most favourable lending rates in the country of interest, and negotiating competitive loan-to-value schemes over timescales to suit the client.
Conti will manage the whole process through to completion, making the process as straightforward as possible. Intermediaries can earn an average of £600 commission for every mortgage they place.
According to Conti, Italy’s more cautious lending approach has sheltered it from the type of property spikes experienced by the U.S. and Britain in recent years, as the market has had less room to fall. Italian homeowners buy houses to live in rather than as an investment, and on average, move only once every 20 years.
Prices, therefore, have remained relatively more realistic. The country is not immune, however, to the fact that there have been fewer property buyers around. There's room, therefore, for some price negotiation with vendors, as long as the offer is within an acceptable margin of their asking price.
