Mortgage for Italian Property?

Charlie_P

I am planning on buying a property in Italy for around Euros 200k to 250k. To fund the purchase I am selling a business but have allowed up to 3 years to achieve this as it can take time although I may achieve a much quicker sale.

In the meantime I want to proceed with the property purchase and as the business is profitable enough to fund a mortgage, want some ideas on the best way to proceed. Do I get a mortgage in this country or locally on the new property. Do i perhaps borrow against my UK property I have a mortgage of £100k and the value is around £420k

Any ideas will be much appreciated.

Thanks

herbiesjp

Charlie_P wrote:

I am planning on buying a property in Italy for around Euros 200k to 250k. To fund the purchase I am selling a business but have allowed up to 3 years to achieve this as it can take time although I may achieve a much quicker sale.

In the meantime I want to proceed with the property purchase and as the business is profitable enough to fund a mortgage, want some ideas on the best way to proceed. Do I get a mortgage in this country or locally on the new property. Do i perhaps borrow against my UK property I have a mortgage of £100k and the value is around £420k

Any ideas will be much appreciated.

Thanks

I would suggest the quickest and easiest way of doing this would be by indeed raising the funds off your UK property.

Whereabouts in Italy are you looking to buy?

dunstonh

I cant help you as I dont know the answers but I just have to say that I envy you. Italy is such a great place. I just love going to Rome.

Damn, I think I am going to have to book another weekend over there now you have me thinking about it again.

herbiesjp

dunstonh wrote:

I cant help you as I dont know the answers but I just have to say that I envy you. Italy is such a great place. I just love going to Rome.

Damn, I think I am going to have to book another weekend over there now you have me thinking about it again.

ah - la dolce vita eh?

Charlie_P

Southern Italy, probably north/central Puglia as there is good access, properties are good value, pace of life and the Brits are still a novelty. Did look at rural Spain in the Sierra Nevada but it was still full of English enclaves!