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Second-home mortgage · Modena, Bologna, Sassuolo, Casalecchio

Second-home mortgage: knowing beforehand whether both payments work

A property to let, a house in the Apennines, or a flat for children studying in Bologna. The real question is not what the mortgage costs: it is which bank considers your total borrowing sustainable.

Request a consultation or call 059 713 3440
20 partner lenders approached in parallel

La coerenza fra i contenuti e la realtà è la cosa che mi ha convinto di più

  • Kìron Partner S.p.A. · OAM no. M39
  • More than 20 partner lenders
  • 19 years of experience

This is for you if

You already have a mortgage or a property and you are about to buy another, as an investment or for the family.

How it works

I check which banks finance a second home in your particular situation, put the application to those and follow it through to the signing.

What you get

Knowing before you pay a deposit whether the deal stands up, and then a case I carry through to completion.

  • How much you can borrowUsually 70-80% of the valuation, not of the price you agreed.
  • The real constraintAll your monthly payments together should not exceed roughly a third of your net income.
  • To budget forFirst-home tax relief no longer applies: registration tax at 9% and substitute tax at 2%.
  • First assessmentFree and with no commitment: we look at whether it is feasible, at no cost and with no obligation to proceed.

On your own, or with me

The same questions, two different answers

On your own

  • You ask your own bank and stop at its answer
  • You find out how much cash you really need after the valuation
  • You discover the rent counts for only half
  • The second-home taxes arrive as a surprise

With me

  • Your position put to the lenders most open to it
  • Borrowing capacity worked out before you pay a deposit
  • I tell you in advance which banks credit the rent most generously
  • Registration tax at 9% and substitute tax at 2% already in the figure

If the deal does not stand up I tell you on the first phone call, and that is the end of it: which is exactly why it is worth doing before the preliminary contract.

Check your own case

Start here

How the consultation works

  1. 1
    First callIncome, existing mortgage, what the purchase is for and over what horizon.
  2. 2
    Affordability checkI apply each lender's parameters and tell you which of them the deal works with, taxes and costs already included.
  3. 3
    Application and completionDocuments, valuation, approval, notary: I run it.

Four questions, then your number. I call you back in the time slot you choose.

Step 1 of 5

Which area is the property in (or where are you)?

The four offices cover the provinces of Modena and Bologna: that is the area where I can meet you and where I know by name the branches I deal with. Outside it I would rather tell you straight away.

What do you need?
What is your employment status?
What is your employment status?
What is your employment status?
Do you have an adverse listing on the credit register (CRIF / protests)?

I ask now rather than later for one reason: with an active listing no bank will look at the application, and I do not want you to lose weeks getting to a no I can already see.

How do I reach you?
  • I call you back within one working day, in the slot you choose.
  • It is ten minutes on the phone: you do not need to prepare anything.
  • The assessment is free and commits you to nothing.

FAQ

Frequently asked questions

I already have a mortgage: can I have a second one?

It is possible where your income supports both payments under the bank's criteria. Those criteria vary a good deal between lenders, particularly in how any rental income is treated: this is exactly the case where comparing several banks makes the difference between a no and an approval.

How much can I borrow on a second home?

Usually between 70 and 80% of the valuation, so less than on a first home and calculated on the surveyor's figure, not on the price agreed. If the valuation comes in below the price, the gap is yours to cover: it is the most common surprise on this kind of deal.

Does first-home tax relief apply?

No. Registration tax rises from 2% to 9% and the substitute tax on the mortgage from 0.25% to 2%. I include them in the overall figure I give you, because on an investment they weigh more than the rate.

If I let the property, does the rent count as income?

It depends on the lender. Some credit it, almost always at a reduced rate — between fifty and seventy per cent — and only against a registered tenancy. Rent that is merely expected is generally not counted.

Other services: Mutuo prima casaSurroga mutuoConsolidamento debitiCessione del quintoMutuo ristrutturazione

Francesco Capomassi — credit adviser in Modena

Who handles your case

Francesco Capomassi

Credit adviser registered with the OAM for Kìron Partner S.p.A.

I have been doing this for 19 years. In that time I have learned one thing that really matters: the difference between a yes and a no almost never lies with the client, it lies in which bank reads their situation and how it is put to them.

  • Kìron Partner S.p.A. — credit broker registered with the OAM under no. M39
  • Modena, Bologna, Sassuolo and Casalecchio di Reno
  • By appointment at any office or by video call, including outside office hours
059 713 3440 About me