Off topic: Buying a property in another country
Thread poster: eva75

+ ...
May 6, 2007

I live in France, but would like to buy a property in Italy. As a freelancer, how easy is it to get a home loan from a French bank for this? How many months'/years' invoices would I need to show? What other documentation would i need?

If anyone has ever been in a similar situation, I'd like to hear from you! Thanks. PM if you wish.


Russell Jones  Identity Verified
United Kingdom
Local time: 12:10
Italian to English
For what it's worth May 6, 2007

Hi Eva

I bought a property in Italy recently. I didn't get a mortgage so I can't help you particularly there but, if I had needed one I would have approached the Woolwich Bank (part of Barclays) that has offices in Italy and provides mortgages there. Maybe some French banks do the same.
If you need any further advice on the process though, please don't hesitate to ask.
Best of luck.


Irene N
United States
Local time: 06:10
English to Russian
+ ...
I second Russel's comment May 7, 2007

I have a piece of property in Italy. My situation is also different because I share the ownership with my friend who is an Italian citizen responsible for the mortgage, but in the process I have asked tons of questions and was told by a bank director that an international bank that does not have a branch in the area would likely be very reluctant to provide a mortgage as they would have very little, if any, means to control the property in the unfortunate event of delinquency.

I know nothing about EU banking rules in this regard and all my questions implied possible relationship between Italian bank and a US citizen, so I'm only sharing what I heard with my own ears straight from the horse's mouth.

Good luck!


nordiste  Identity Verified
Local time: 13:10
English to French
+ ...
Hypothéque - joint bank garantee - May 7, 2007

French banks are always very reluctant to give a mortgage if they cannot secure it with what we call "hypothèque", that is they keep a right to sell the property to recover their money if you stop paying the mortgage.
As far as I know they cannot for legal reason get a "hypothèque" on a property outside France, so they will ask for some other kind of garantee, for instance on your saving account in France or your property in France (if you have any !) or a joint bank guarantee from another person (partner, friend, parent).

Then they don't like very much freelancers - no "regular" income and no payslip.

Anyway they won't ask for invoices but for your tax files from previous years , your bank statements, proof of ownership if you already have a property in France, or proof of monthly paiement of your rent, saving accounts, etc... they can be really inquisitive. The more "well established" you look, the better.


Latin_Hellas (X)
United States
Local time: 13:10
Italian to English
+ ...
Paribas parent company of BNL May 7, 2007

Paribas is the parent company of Banca Nazionale del Lavoro. Also Credit Agricole has equity investments in Italy, most prominently Intesa Sanpaolo, I believe. Your better bet is BNL.

Though lending standards are tighter in Europe than in the free-wheeling, chaotic US, in Europe too , including Italy, banks have been throwing money at consumers as of late, so it is worth pursuing.

Good luck!


Fabio Salsi  Identity Verified
Local time: 07:10
Member (2006)
English to Italian
+ ...
it depends on your relationship with the bank May 7, 2007

From my experience there is no fixed rule on this, if the bank knows you very well, you have been with them for years and a have a proven record (tax returns) of regular income for the past few years they might agree on giving you a loan. I also dpends on the amount and if you can offer a guarantee (a property in France).



Samuel Murray  Identity Verified
Local time: 13:10
Member (2006)
English to Afrikaans
+ ...
Got your auditor's statements? May 7, 2007

eva75 wrote:
As a freelancer, how easy is it to get a home loan from a French bank for this?

I can't speak from experience, but perhaps your bank would be interested in a statement from your auditor with regard to your taxable income for the past two years, as well as how much income tax you had paid. This should give the bank a fair idea of your income.


Local time: 22:10
Italian to English
Notaries public cost a lot May 7, 2007

I don't know much about the money/invoice part, but I DO get to translate a lot of deeds, documents, contracts in this field and I can safely say: prepare to dish out a lot of euro for notary public documents alone....+translations.


[Edited at 2007-05-07 22:02]


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