Claiming the right to the benefits of a mortgage loan

Publication: 10/05/2022

Those enrolled in Unified Scheme of Credit and Social Benefits have the option to claim a mortgage loan.

Those enrolled in the Unified Scheme of Credit and Social Benefits who are under permanent employment contracts or who are retired, with a minimum period of service of one year can apply for an INPS loan.

The duration of the loans is 10, 15, 20, 25 or 30 years, except for those registered who apply for the purposes set forth in art. 1, paragraph 4, letter d) of the Regulations and for those who have reached the age of 65 on the date of submission of the claim, for which the maximum loan duration is 15 years.

Reimbursement is made using the "French" method of calculation, in constant quarterly and deferred instalments, based on the interest rates set by the INPS measure. The repayment of the loan is based on fixed or variable interest rates.

By presidential decision no. 89 of 25 May 2017, the fixed interest rate was adjusted using the Loan To Value of the borrower for the (LTV) method, or the relationship between the loan granted and the value of the property determined by the specialist staff of INPS via valuation.

By presidential decision no. 157 of 12 December 2018, the rate table by presidential decision no. 89 of 25 May 2017 was approved for fixed rates.

Therefore, the fixed interest rates, identified using the aforementioned method, will be applied to the mortgage loan claims submitted by 15 January 2019, as follows:

TAN according to the percentage of intervention (LTV)
Duration (up to)	<= 50%	50% - 80%	> 80%
10 years	1.15%	1.33%	1.73%
15 years	1.51%	1.69%	2.20%
20 years	1.65%	1.83%	2,38%
25 years	1.97%	2.03%	2.65%
30 years	1.97%	2.03%	2.65%

For members who, at the date of submission of the claim, are at least 65 years old, as well as for members who are applying for the purposes referred to in Article 1, paragraph 4, letter d), the rates referred to in this table must be applied for a period not exceeding 15 years.

Furthermore, by the aforementioned presidential decision no. 157 of 12 December 2018, the variable interest rate equal to the 3-month Euribor was applied, calculated on 365 days, increased by 200 basis points, recorded as at 31 March, 30 June, 30 September and 31 December.

Administration costs amounting to 0.50% are withheld in advance on the amount of the loan disbursed.

The borrower can pay off the loan partially or in full at any time, as a lump sum, without any penalty.

The borrower can partially pay off the loan as follows:

if the loan was taken out at floating rate, as a lump sum payment, without any penalty;
if the loan is at a fixed rate, the applicant must partially pay off the loan and send to the INPS the communication of a RID/SEPA mandate from a financial institution for the subsequent charge of quarterly instalments on current account held by the borrower at least 30 days before the expiry date of the next quarterly instalment.

A web claim that simulates an amortisation plan is available.

The payment of the loan instalments is deducted from the current bank or postal current account of the borrower for the repayment of the instalments of loans at fixed rate and by deposit slip in the other cases.

Specifically, for the payment of fixed rate mortgage instalments, the loan applicant must sign a direct debit authorisation on a current account through RID/SEPA with a bank, for the subsequent payment of the instalments.

To allow the payment of mortgage payments at floating rate through online deposit slip, the borrower must have the device PIN, and select access to the service > Civil Servants' Pension Scheme: services for Workers and Pensioners. After the user has been identified by means of a fiscal code and PIN, the deposit slip for the payment of the quarterly instalment of the floating rate mortgage can be viewed and printed by accessing from Servizi GDP > Per Area Tematica > Credito (GDP Services > By Case Area > Loan

INPS reserves the right to change unilaterally the methods for collecting loans for amortisation.

The Rules for the disbursement of mortgage loans (pdf 1,13MB), approved by presidential decision no. 101 of 1 August 2018, provides for the disbursement of mortgage loans to members of the Unified Scheme of Credit and Social Benefits for the following purposes:

The loan is granted (article 1, paragraph 4, letters a, b, c, d):	Maximum amount payable (article 5, paragraph 1, 2, 3, 3bis)
a) to purchase a newly built housing unit from a construction company or a legal entity; purchase of a residential unit from a private non-entrepreneurial activity, even with extinction of the loan contracted by the latter with banks or credit institutes; purchase a housing unit from public institutions; purchase a housing unit by public auction for properties deriving from public institutions; assignment by cooperative companies in divided ownership, own construction, completion and/or extension on owned land. In the cases indicated, the accommodation must be intended as the residence of the member and his/her family unit, as envisaged in article 6	€300,000
b) for execution of ordinary and/or extraordinary maintenance works, adaptation, extension, transformation or restructuring of the only accommodation owned by the member, or by the member and by the spouse not registered in co-ownership, featuring the same characteristics and destination under letter a) of this paragraph	equal to 40% of the property value as appraised, pursuant to art. 11 and, in any case, not exceeding € 150,000
c) to purchase a newly built car garage / parking space from a construction company or a legal entity; to purchase a garage / parking space from a private individual who does not operate an entrepreneurial activity, even with the extinction of the loan contracted by the latter with banks or credit institutes; to purchase a garage / parking space from public institutions; to purchase of a box / parking space through public auction for properties deriving from public institutions; assignment by cooperative companies in divided ownership, self-construction of a car garage / parking space, to be used within the context of the property owned by the member, or by the member and spouse not registered in co-ownership; this accommodation must have the same characteristics and destination referred to in letter a), not more than five hundred meters away from the residence itself.	€75,000
d) for enrolment in and attendance of in Italy or abroad, of the member or of a family member, as specified in article 6 subsequently, university courses, post-graduate and master courses, music conservatories and fine arts academies, vocational training institutes, which release legally recognised qualifications.	€100,000

The member can claim, at the same interest rate, an additional amount of maximum € 6,000 for documented expenses relating to the sworn appraisal (article 9, paragraph 6, letter a) or optional insurance coverage (article 15, paragraph 7) .

The maximum amount disbursed may not exceed 100% of the value of the real estate units ascertained by INPS specialists or the purchase price declared in the deed of sale, net of any expenses financed pursuant to Article 5 of the Loan Regulation.

Loan claims are admitted according to the chronological order of registration (article 10, paragraph 1 of the Regulation). However, in the case governed by Article 2, paragraph 3, letter c) of the Regulation, INPS can determine the granting of the loan, regardless of the registration order (Article 10, paragraph 2).

In case of a number of loan claims exceeding 90% of the financial resources allocated for the financial year, a list will be prepared (article 10, paragraph 3 of the Loan Regulation).

REQUIREMENTS

The member or members of the family unit must not own other residences throughout the national territory, except in cases where:

the interested party or the members of the family unit own residences received by donation inter vivos or by succession mortis causa, provided that they are not usable as that are encumbered by beneficial rights (usufruct, use, housing) for at least 5 years;
the interested party or the members of the family unit own homes in an amount equal to or less than 50% of each, even if not encumbered by beneficial rights;
the member, even if the owner of a house, has been deprived of it as a result of legal separation and allocation to the other spouse and/or family members (such circumstances must be documented by a certified copy of the legal decision);
the unavailability of the residence owned by the member is attested by the competent authority, following unforeseeable events dependent on natural disasters;
the member is co-owner of a house with individuals outside his/her own family unit, to identify the shares of others, in order to obtain full and exclusive ownership of the property used or to be used as a first home (in which case, the loan is granted exclusively for the purchase of the remaining shares);

The loan cannot be granted if the amount of the instalments to be paid annually, including interest, exceeds the benefits of the member equivalent to half the annual taxable income of the family unit.

WHEN CAN I CLAIM?

The claim, enclosing the required documentation, must be submitted from 15 January to 10 October of each year.

HOW CAN I CLAIM?

The loan claim must be submitted exclusively, under penalty of inadmissibility, by electronic means through the INPS portal and reference is made to the provisions of Article 3, paragraph 3, of the aforementioned Regulation for the sending thereof.

The loan claim, completed in full, must enclose the sworn affidavits and notarial deed provided for in the claim form and all the documentation referred to in the annexes to the claim as provided by the current Regulation and available on the website of INPS.

Below is the list of sworn expert reports divided by case, to be attached to the loan claim:

SWORN APPRAISAL BY AN EXPERT 1 PURCHASE OF A NEW CONSTRUCTION REAL ESTATE UNIT FROM A CONSTRUCTION COMPANY (pdf 158KB);
SWORN APPRAISAL BY AN EXPERT 2A PURCHASE OF REAL ESTATE UNITS FROM INDIVIDUALS (natural or legal person) BUILT BEFORE 01.09.1967(pdf 156KB);
SWORN APPRAISAL BY AN EXPERT 2A PURCHASE OF REAL ESTATE UNITS FROM INDIVIDUALS (natural or legal person) (pdf 159KB);
SWORN APPRAISAL BY AN EXPERT 3A PURCHASE OF REAL ESTATE UNITS BY PUBLIC INSTITUTES, BUILT BEFORE 01.09.1967(pdf 154KB);
SWORN APPRAISAL BY AN EXPERT 3A PURCHASE OF REAL ESTATE UNITS BY PUBLIC INSTITUTES (pdf 152KB);
SWORN APPRAISAL BY AN EXPERT 4A PURCHASE OF REAL ESTATE UNITS AT PUBLIC ACTION FROM PUBLIC INSTITUTES, BUILT BEFORE 01.09.1967(pdf 155KB);
SWORN APPRAISAL BY AN EXPERT 4B PURCHASE OF REAL ESTATE UNITS AT PUBLIC ACTION FROM PUBLIC INSTITUTES (pdf 155KB);
SWORN APPRAISAL BY AN EXPERT 5 PURCHASE OF NEW CONSTRUCTION REAL ESTATE UNITS FROM A COOPERATIVE COMPANY IN DIVIDED OWNERSHIP (pdf 172KB);
SWORN APPRAISAL BY AN EXPERT 6A OWN BUILDING CONSTRUCTION, COMPLETION AND/OR ENLARGEMENT ON OWNED LAND (STAGE 1ST PAYMENT) (pdf 132KB);
SWORN APPRAISAL BY AN EXPERT 6B OWN BUILDING CONSTRUCTION, COMPLETION AND/OR ENLARGEMENT ON OWNED LAND (STAGE BALANCE PAYMENT) (pdf 175KB);
SWORN APPRAISAL BY AN EXPERT 7A PURCHASE OF BOX / PARKING PLACE, BUILT BEFORE 01.09.1967(pdf 153KB);
SWORN APPRAISAL BY AN EXPERT 7B PURCHASE OF BOX / PARKING PLACE (pdf 152KB);
SWORN APPRAISAL BY AN EXPERT 7C OWN CONSTRUCTION OF BOX / PARKING SPACE (PHASE 1ST INSTALLMENT) (pdf 131KB);
SWORN APPRAISAL BY AN EXPERT 7D OWN CONSTRUCTION OF BOX / PARKING SPACE (PHASE BALANCE PAYMENT) (pdf 173KB);
SWORN APPRAISAL BY AN EXPERT 8A RENOVATION OF RESIDENCE BEFORE 01.09.1967(pdf 154KB);
SWORN APPRAISAL BY AN EXPERT 8B RENOVATION OF RESIDENCE (pdf 153KB);
SWORN APPRAISAL BY AN EXPERT 9A FOR MORTGAGE LOAN FOR STUDY REASONS, REGISTRATION AND ATTENDANCE IN ITALY OR ABROAD, OF THE MEMBER OR A FAMILY MEMBER OF PROFESSIONAL TRAINING INSTITUTES, WHICH ISSUE LEGALLY RECOGNISED DEGREES BEFORE 01.09.1967(pdf 156KB);
SWORN APPRAISAL BY AN EXPERT 9B FOR MORTGAGE LOAN FOR STUDY REASONS, REGISTRATION AND ATTENDANCE IN ITALY OR ABROAD, OF THE MEMBER OR A FAMILY MEMBER OF PROFESSIONAL TRAINING INSTITUTES, WHICH ISSUE LEGALLY RECOGNISED DEGREES (pdf 165KB);