Holiday home mortgage for property in Lake Como

Italian mortgage for holiday home in Lake Como

Northern Italy offers stunning views and a relaxed lifestyle envied by visitors all over the world. Although finding a desirable property in this region is no trouble, when it comes to securing an Italian mortgage, potential investors have considerably more trouble as only a limited number of banks will lend in the area.

I recently assisted two American clients looking to secure an Italian mortgage to buy a property in this area. My clients were a married couple who had enjoyed successful careers and were now looking to purchase a holiday home. They had located property in Lake Como, valued at just over €3million.

My clients had been in conversation with lenders, but unfortunately, they had not been able to secure anything concrete. The combination of being American nationals and looking for an Italian mortgage was proving tricky; the lenders prepared to work with American clients were not prepared to lend in Italy, and vice versa.

My clients, therefore, approached me to see if I could assist with the financing of their new property. After consulting with them to gain a thorough understanding of their circumstances, I began to approach lenders to try and secure terms.


I was able to source a lender who was willing to offer 100% of the loan amount required, with 40% of this amount placed as assets under management (AUM) with the lender. My clients expressed that they were happy to place up to 50%, so this was a good result.

Under the terms I secured, my clients would pay back the majority of the loan on a capital repayment basis, at a quarterly interest rate of 3-month LIBOR + 2.25%.  The remaining amount outstanding—equivalent to the amount placed as AUM—can be repaid as a bullet repayment at the end of the term, meaning the clients can use the AUM to complete this payment.

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