- Client: Australian National & UK Resident
- Property: Main residence in Milan
- Property Value: €2,800,000
- Loan Amount: €2,000,000
- LTV: 70%
Enness was approached by an Australian national and UK resident who was in the process of obtaining Italian residency and wanted to purchase a main residence in Milan. The apartment was valued at €2.8 million, and the client was looking to borrow 70% of the purchase price through an Italian mortgage.
The client’s income profile added an additional layer of complexity. They were a partner at a financial advisory firm, receiving both an annual salary and a significant profit share of approximately €1.9 million. As the client was not yet resident in Italy, finding a lender comfortable with their international circumstances and income structure was an important part of the financing process.
For high-value property purchases in Italy, private banking can provide greater flexibility than traditional residential lending. Private banks are often better placed to consider a borrower’s wider financial position, including variable remuneration and profit distributions, rather than relying solely on conventional salary income.
Enness assessed the client’s circumstances and approached an Italian private banking group with experience in international lending. The lender was comfortable considering the client as a non-resident borrower and was able to structure a €2 million mortgage at a variable rate capped at 2.3%.
The resulting facility gave the client the level of borrowing required to proceed with their Milan property purchase while taking their international residency and broader income structure into account.
This case demonstrates the importance of choosing a lender with the right appetite for international borrowers and complex remuneration structures. Enness works with private banks and specialist lenders to arrange Italian mortgages for non-residents, structuring finance around the client’s circumstances rather than relying solely on standard lending criteria.
To discuss your requirements, speak to a mortgage specialist about your property purchase and explore the financing options available.
Risk Warning:
A mortgage is secured against property. If you do not keep up with repayments, your property may be at risk of repossession. Variable-rate borrowing can also result in changes to your monthly payments if the applicable rate increases.
Disclaimer:
This case study is for illustrative purposes only and does not constitute financial, legal or tax advice. Finance is subject to status, underwriting, affordability and lender criteria. Terms and availability will vary depending on individual circumstances.
Information contained in our case studies is for market and illustrative purposes only. In some cases, these may be made up of multiple cases and are for illustrative purposes only.
Some case studies are made up of enquiries that have come into the business, not all business completes, and the posting of a case study does not represent a completed piece of business.
Property values can fall as well as rise, and you may not get back the amount originally invested. Property investments can be illiquid and may take time to sell. Where borrowing is used, your property may be repossessed if you do not keep up repayments on a mortgage or other loan secured against it.
