Italian mortgages: get it in Ancona easier than in Cosenza

Average number of mortgage approvals in Italy is 7%, according to a joint study of two leading Italian online brokers Mutui.it and Facile.it, working in the mortgage industry. Moreover, the number of loans in the north, issued for the purchase or renovation of real estate, is almost three times more than in the south of Italy.

Data of research

It was reviewed more than 5,000 applications for mortgages. The analysis was not limited to only one segment (the purchase of the first house), and was associated with all the possible targets. The analysis period was from 1 January to 31 May 2013.

The mortgage market in Italy has improved most of all in April 2013. However, the situation is far from idyllic. According to Nomisma, mortgage lending sector is restored: the number of credits has increased from 5% to 7%. However, the figures vary in different regions of Italy.

Figures

According to the study, the Marche region is the place where a mortgage is most easily and more realistically meet the bank's requirements for "good borrowers", informs immobiliare.it. This mortgage is issued at 10% of all requests. Rates in Liguria and Lombardy are little less: in both regions - 9.7%. High level of loans is in Piedmont (8.8%), Lazio and Umbria (7.5% in both regions).

The situation is not so positive in the southern regions of Italy. Campagna (the province of Salerno) is the only region where the indicators have reached the threshold of 5%. In Basilicata get the green light for a loan only 4.8% of the queries, in Puglia — 4.7%, in Molise — 4.3%, in Sardinia and Sicily — 4.1%. But the worst performance among all Italian regions have been reported in Calabria: the banks approve only 3.8% of all requests.

Who are getting a mortgage

In the north of Italy, where the average salary is the highest, inquiries for mortgages are made at a younger age. For comparison, in Italy the average age who is applying for a mortgage is 39 years, and in the Friuli-Venezia Giulia, northern Italy, - 37 years. In the south, where is more difficult to achieve economic independence, banks receive the greatest number of requests from customers over 40 years.