Second-home mortgage · Turin and Piedmont
Second-home mortgage in Turin: knowing in advance whether two payments work
A property to let, a house in the mountains, a flat for children at university. The question is not what the loan costs: it is which bank considers your overall exposure sustainable. Better to find out before you sign a purchase offer.
- ★ 5,0 272 Google reviews
- 30+ lenders approached in parallel
- < 30 gg to approval, on average
- 0 € if you don’t reach completion
You only pay if you reach completion
Our advice carries no risk for you: our broker fee is due only if you obtain the loan and sign at the notary. If you do not complete, you owe us nothing. The amount is confirmed to you in writing before we start, together with every cost charged by the bank.
Average timings recorded on applications handled by this branch. Approval remains the bank’s decision: timings can vary depending on the lender and on how complete your documents are.
What people usually think
A second mortgage does not work like the first
Anyone buying a second property has been through the process once and expects the same again. That is exactly where the most expensive surprises happen.
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“I’ve always paid on time, they’ll give me a second one”
What counts is the ratio of all payments to net income, not your track record. And each bank calculates it its own way.
Why
Banks look first not at your track record but at the ratio between all your payments and your net income. The benchmark is roughly a third, but some calculate on net and some on gross, some count the rent you receive and some ignore it. On the same income one bank says yes and another says no.
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“I’ll let it out, the rent will cover the payment”
Many lenders count rent at only 50-70%, and only with a registered tenancy already in place.
Why
Only some lenders treat expected rent as income, and almost never in full: they usually stop at fifty to seventy per cent, and only against a registered tenancy already running. Rent that is planned but not signed does not exist for most banks.
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“The loan-to-value will be the same”
On a second home lenders drop to 70-80%, and of the valuation, not the price.
Why
On a second home lenders usually drop to 70-80% of the surveyor’s valuation — the valuation, not the price you agreed. On a €200,000 property that can mean forty thousand euros more of your own money than you had planned for.
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“Apart from the rate, the costs are the same”
The first-home reliefs fall away: registration tax from 2% to 9%, mortgage tax from 0.25% to 2%.
Why
No: the first-home tax reliefs fall away. Registration tax rises from 2% to 9% of the cadastral value, and the substitute tax on the loan from 0.25% to 2%. On an average purchase that is several thousand euros to budget for from the start.
★★★★★
Se avessi dovuto fare tutto io non so quanto tempo avrei perso, né se avrei trovato le migliori soluzioni sul mercato adatte alle mie esigenze.
Why with us
What we actually do
We give you the figure before you sign
We calculate the amount available and the affordable instalment using each lender’s own parameters, not a rule of thumb. If the deal does not stand up you know on the first call, not after paying a deposit.
We start with the banks that actually finance second homes
Not every lender is comfortable with two mortgages, and those that are apply different thresholds. We put your profile to the ones currently taking a favourable view, rather than finding out after three refusals.
The figure includes taxes and costs, not just the instalment
Registration tax, substitute tax, valuation, arrangement fee, insurance: we put them on the same sheet as the instalment. On an investment that is what decides whether it pays, not half a point of margin.
How banks read your overall exposure
The calculation that matters is the payment-to-income ratio: all the payments you will be making are added up — existing mortgage, new mortgage, any loans and salary assignments — and the total is set against your net monthly income. The commonly accepted threshold is a third, but this is where lenders diverge: some include expected rental income, others only rent already received and declared, others still apply a flat reduction.
In practice this means the very same situation can be sustainable for one bank and outside the limits for another, with no way for you to predict it from the outside. Our work starts there: we rebuild your overall picture, apply the real criteria of individual lenders and tell you which of them the deal genuinely works with, over what term and on what conditions.
Request a call backHow we work
From the call to the signature
- 01
First call
Income, existing mortgage, purpose of the purchase and your time horizon.
- 02
Affordability check
We apply individual lenders’ parameters to your overall picture and identify those most open to two mortgages.
- 03
Offers compared
The best terms for your case, with taxes and associated costs already in the figure.
- 04
Application and completion
Documents, survey, approval, notary: we run it.
Google reviews
Who chose us
★★★★★
Il mio forma mentis mi porta generalmente a dubitare ed evitare di usufruire di questi servizi perché ormai "c'è internet" e per cattive esperienze passate. Questa volta ho deciso di andare un po' contro me stesso e accettare l'aiuto di Marcello, che mi ha fatto cambiare idea sin dal primo incontro. Mi ha trovato il mutuo migliore per me al momento, ha risolto tutti i miei dubbi con parole chiare e comprensibili ai non del mestiere: non ho dovuto fare niente se non inviargli i documenti che servono. Insomma, probabilmente è il primo professionista che pago volentieri.
★★★★★
Ottimo servizio, preciso e veloce. Sono stata seguita con grande tempestività sin dal primo contatto, senza mai ricevere false speranze ma solo soluzioni concrete e trasparenti. Grazie al supporto di Alex, l'iter burocratico è stato molto più semplice e senza intoppi. Persona, oltre che qualificata, di una disponibilità e gentilezza rara. Un servizio efficiente che consiglio vivamente a tutti.
★★★★★
Devo ringraziare enormemente Alex Franzino di Kiron, che mi ha aiutata a ottenere il mio primo mutuo al 95% nonostante la mia situazione da giovane partita IVA non fosse la più ideale. Mi ha supportata moltissimo nei chiarimenti tecnici ed è sempre stato presente durante il percorso, facendo anche da tramite con l'agenzia immobiliare e gli altri attori. Con il suo aiuto non ho praticamente sentito la pesantezza burocratica. Consiglio fortemente per chi, come me, ha bisogno di una guida nei meandri bancari e burocratici.
Start here
Tell us about your situation
Four questions about second-home mortgage. An adviser from the Turin office calls you back having already read your answers: no need to repeat it all on the phone.
- You don’t need to have found a property yet — the earlier you call, the better
- No documents to prepare for the first call
- If the deal does not stand up, we will say so straight away
- You only pay if you sign at the notary
FAQ
Frequently asked questions
I already have a mortgage: can I take a second one?
It is possible when your income supports both payments under the bank’s criteria. Those criteria vary considerably, though, above all in how any rental income is treated: this is exactly the case where comparing several lenders decides between a refusal and an approval.
How much can I borrow on a second home?
Usually between 70 and 80% of the surveyor’s valuation, so less than on a first home and calculated on the valuation rather than the agreed price. If the valuation comes in below the price, the difference is yours to cover: it is the most common surprise on this kind of purchase.
Do the first-home tax reliefs apply?
No. Registration tax rises from 2% to 9% and the substitute tax on the loan from 0.25% to 2%. We build these into the overall figure we 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 do count it, almost always at a reduced rate — between fifty and seventy per cent — and only against a registered tenancy. Rent that is merely planned is generally not counted. We check case by case which banks give it most weight.
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