Easy terms for first home loan and Italian law

by

Antonio Guastalla

Are you going di buy a home in Italy? Well, easy terms for first home loan in Italy is a very interesting information for you: Italian legislation provides a lot of easy terms for first home loan.

Easy terms for first home loan (that is loaning a non-luxurious purpose-built apartment used as ‘first home’) are at the moment: imposta di registro (a levy on loaning value) at 3%; mortgage loan and cadastral tax set at 336 euro (or at 4% of Iva, Value-added tax). To benefit from these easy terms for first home loan, there are specific conditions. In the first place, the purchaser must loan his purpose-built apartment in the same town where he has his place of residence, or in the town where he has his business. To benefit from easy terms for first home loan, the purchaser must specify his place or residence when he buy the purpose-built apartment. The easy terms for first home loan have other two fundamental conditions: in the time of purchase, the buyer must declare to be the only owner of property rights of the purpose-built apartment (or in commune with the spouse); the purchaser must declare that he benefits from easy terms for first home loan for the first time, even if he has another ‘first home’ in commune with a spouse. The easy terms are also valid for purchasing the outbuildings as garage, but the outbuilding must be near or in the proximity of the first home and used only ‘in service’ of the first home (for an accurate definitions of ‘outbuildings’, read the Italian civil code, article 817). Furthermore cadastral rents of first home and possible outbuildings are detracted from Irpef taxable income (an income tax) but only if there are the conditions to benefit from the easy terms for first home loan.

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