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Publication: 6 April 2017 Latest update: 26 November 2024
What is it?
The INPS mortgage loan is a long-term subsidised loan that can be claimed for one of the following reasons:
- bear the costs of purchase, construction or expansion of the first and only home;
- buy or build a garage or parking space destined to become an appurtenance of the first and only home;
- bear the costs of enrolment and attendance of courses of study for themselves or for members of the family;
- close a loan already taken out with a bank (so called portability or subrogation).
The video tutorial explains how to get a mortgage loan.
For further information, please refer to the FAQs (PDF 102KB).
Who is it aimed at?
Those enrolled in the Unified Scheme of Credit and Social Benefits for at least one year can claim for an INPS mortgage loan if they are:
- in service with a permanent employment contract at the time of submitting the claim;
- pensioners.
How does it work?
DURATION AND REPAYMENT PROCEDURE
The duration of mortgages is 10, 15, 20, 25 or 30 years.
The maximum duration of the mortgage amortisation plan is proportional to the age of the applicant at the time of submitting the claim, considering that the sum of the applicant's age and the duration of the amortisation cannot be greater than 80.
The maximum duration of the mortgage is 15 years in the case of a loan requested for study purposes.
On 1 January 2024, the new Regulation for the granting of building mortgage loans to members of the Unified Scheme Fund of credit and social benefits came into force (pdf 1345 KB).
Repayment of the borrowed amount is made in the following ways:
- with a 'French-style' calculation method;
- in constant and deferred monthly instalments, depending on the interest rates set by the INPS provision.
The amount of the instalments therefore depends on the value of the loan granted and the interest rate which, as chosen by the claimant, can be fixed or variable over the duration of the loan.
Payment of the mortgage instalments is made through the PagoPA channels.
The interest rate, at the borrower's request, can change from fixed to variable, and vice versa, only once during the amortisation period and after two years from the completion of the loan agreement.
For information purposes, it is possible to simulate the mortgage amortisation plan by accessing the dedicated dedicated service.
INTEREST RATES AND AMOUNT OF FINANCE
The rates applicable to loan claim submitted from 1 November 2023 (approved by Special Commissioner's resolution no. 72/2023) are as follows.
| Duration (up to) | <=50% | 50% - 80% | >80% |
|---|---|---|---|
10 years | 2.93% | 2.98% | 3.13% |
15 years | 2.90% | 2.95% | 3.10% |
20 years | 2.88% | 2.93% | 3.08% |
25 years | 2.84% | 2.89% | 3.04% |
30 years | 2.82% | 2.87% | 3.02% |
Duration (up to) | <=50% | >50% |
|---|---|---|
10 years | 2.93% | 2.98% |
15 years | 2.90% | 2.95% |
For variable-rate loans, with a monthly amortisation instalment, the rate equal to the one-month Euribor, calculated over 365 days, plus 150 basis points, is applied.
The rate is recorded at the end of the month prior to disbursement or, if the terms fall on a public holiday, on the first business day following the date of recognition.
The maximum amount of the loan that can be granted varies according to the different purposes for which the loan can be claimed.
Below, you can see the maximum amounts that can be granted for mortgage or portability claims in relation to each of the purposes provided for by the Regulations:
- purchase of a newly built house from a construction company or from cooperatives or, in any case, a house from a private individual not carrying out entrepreneurial activities or by public auction from public bodies; construction, completion and/or expansion of a building on land owned: maximum amount payable 300 thousand euros;
- performance of ordinary and/or extraordinary maintenance works, adaptation, extension, transformation or renovation of a house already owned by the claimant, or by the claimant and the spouse in co-ownership: maximum amount payable 150 thousand euros;
- own construction or purchase of a car park/parking space, to be used as part of the property, including through a public auction by public bodies or assignment by cooperatives: maximum amount payable 75 thousand euros;
- enrolment and attendance, in Italy or abroad, by the claimant or a member of the family unit, of university courses, postgraduate and Master's courses, music conservatories and academies of fine arts, professional training institutes, which issue legally recognised qualifications: maximum amount payable 100 thousand euros.
For the same purposes and amounts indicated, it is possible to obtain the portability of a loan already taken out with banking institutions.
In addition to the maximum loan amounts provided for in relation to the various purposes of granting the loan, it is possible to claim, at the same interest rate, an additional amount not exceeding 6,000 euros for:
- documented expenses to be incurred for the sworn appraisal, which will be requested by INPS, following verification of the requirements to obtain the loan;
- payment of the insurance premium relating to one or more of the optional guarantees, financing of which is permitted by the regulations (death, total permanent disability as a result of accident or illness, total temporary incapacity for work as a result of accident or illness, involuntary loss of employment - art. 16(6)).
The maximum amount payable, in any case, cannot exceed:
- 100% of the value of the property ascertained by the Institute's technicians;
- the purchase price declared in the deed of sale, net of any documented expenses subject to financing.
The repayment instalments of the loan, including interest, also cannot exceed half of the net income of the household, net of the debt exposure of the current year, self-certified at the time of submitting the claim.
Net income of the family unit means the sum of the income of the members of the family, net of taxes and inferable from the last tax return available at the time of submitting the claim.
Claims for the granting of the loan are admitted according to the chronological order of registration.
In the event that a surplus of loan claims is determined with respect to 90% of the financial resources each year intended for granting mortgage loans:
- the admission of claims is subject to a monthly national ranking, based on the ordinary ISEE of the applicant’s family unit;
- only claims for new funding are evaluated;
- mortgage portability claims submitted after the limit has been reached are not considered.
The administrative costs of 0.50% are deducted in advance from the amount of the loan disbursed.
EARLY TOTAL OR PARTIAL REPAYMENT OF THE MORTGAGE
At any time, during the duration of the repayment plan, the contract holder may settle the mortgageo:
partially, at least 20 days before the expiry date of the next monthly instalment;
- totally;
- in a one-off payment, without any penalty.
Claim
REQUIREMENTS AND OBLIGATIONS FOR THE GRANTING OF THE LOAN
The member or members of the family unit must not own another home in Italy (Article 6 of the Regulations), except in cases where:
- the claimant or members of the family are owners of dwellings received by an inter vivos donation or by succession following death, provided that they are not usable as they have already been encumbered by real rights of enjoyment (usufruct, use, dwelling) for at least five years;
- the claimant or family members own 50% or less of each dwelling, even if they are not encumbered by real rights of enjoyment;
- the claimant, even if the owner of a home, has been deprived of it as a result of a judicial order of separation and assignment to the other spouse and/or members of the family unit (these circumstances must be documented by means of a certified copy of the judicial order);
- the unavailability of the dwelling owned by the claimant is certified by the competent authority, following unpredictable events caused by natural disasters;
- the claimant is a co-owner of a house with persons outside his/her family unit, to take over the shares of others, in order to achieve full and exclusive ownership of the property used or to be used as a first home (in this case, the loan is granted exclusively for the purchase of the residual shares).
The loan cannot be granted in the following cases:
- if over-indebtedness procedures are pending;
- in the performance of agreements or plans of the consumer at the expense of the claimant or members of the family unit (Article 13 of Law 3/2012).
If there has been a cancellation of a previous loan granted to the claimant or a member of the family unit due to default, a new loan can be claimed only if at least three years have passed since full payment of all the sums due for the cancelled loan.
The loan claim can also be co-signed by the spouse or civil partner or the de facto cohabitant with a registered domestic partnership contract (Law no. 76 of 20 May 2016) of the claimant, provided that also the latter meets the following requirements::
- have been enrolled in the Unified Scheme of Credit and Social Benefits for at least a year;
- have a permanent employment relationship at the time of submitting the claim, if in service.
In this case, the claimant must attach a specific form signed by the co-owner to the claim. The MV81 form is available in the Forms section of the INPS portal.
The borrower is obliged to insure the property used as mortgage collateral against risks of fire, lightning and explosions in general, starting from the date of completion of the loan agreement and for the entire duration thereof.
To guarantee the repayment of the borrowed capital, the borrower grants INPS a voluntary first-level mortgage:
- on the property to be purchased or already purchased;
- on the area affected by the construction and on the property being built;
- on the pre-existing property (in the case of renovation and/or extension of the dwelling);
- on the property owned by the borrower offered as collateral, in the case of a loan requested for study purposes.
The value of the mortgage to be registered is equal to twice the amount of the loan granted.
In the event that the property to be offered as collateral is or becomes co-owned with a spouse or civil partner who is not also party to the loan, the latter shall act in the loan agreement as a third-party mortgage lender.
WHEN CAN I CLAIM?
The claim, complete with the required documentation, must be sent from 15 January to 30 November of each year. Claims can only be submitted from 15 February to 30 November for 2024.
HOW CAN I CLAIM?
The claim for the granting of the loan must be submitted exclusively online through the INPS portal.
All notifications sent during the processing cycle of claims submitted are viewable and manageable by clicking on the notification centre icon located in the side menu of each page of the claim service (read carefully the paragraph dedicated to the 'Notification Centre' in the User Manual).
The claim for the granting of the loan, completed in each part, must include:
- substitute declarations of certification and sworn affidavit provided for in the claim form;
- documentation to be attached based on the purpose for which the loan is claimed.
The list of documents to be attached to the claim for mortgage loans 2024 (pdf 260KB) for the single purpose of granting the loan can be consulted.
The following are the sworn appraisal schemes, separated by type, to be attached to the loan claim:
- SWORN APPRAISAL 1 PURCHASE OF NEWLY CONSTRUCTED PROPERTY UNIT FROM CONSTRUCTION COMPANY (pdf 158KB);
- SWORN APPRAISAL 2A PURCHASE OF PROPERTY UNITS FROM PRIVATE PARTIES (natural or legal person) BUILT BEFORE 01/09/1967 (pdf 156KB);
- SWORN APPRAISAL 2B PURCHASE OF PROPERTY UNITS FROM PRIVATE PARTIES (natural or legal person) (pdf 159KB);
- SWORN APPRAISAL 3A PURCHASE OF PROPERTY UNITS FROM PUBLIC BODIES, BUILT BEFORE 01/09/1967 (pdf 154KB);
- SWORN APPRAISAL 3B PURCHASE OF PROPERTY UNITS FROM PUBLIC BODIES (pdf 152KB);
- SWORN APPRAISAL 4A PURCHASE BY PUBLIC AUCTION OF PROPERTY UNITS FROM PUBLIC BODIES, BUILT BEFORE 01/09/1967 (pdf 155KB);
- SWORN APPRAISAL 4B PURCHASE BY PUBLIC AUCTION OF PROPERTY UNITS FROM PUBLIC BODIES (pdf 153KB);
- SWORN APPRAISAL 5 PURCHASE OF NEWLY CONSTRUCTED PROPERTY UNITS FROM COOPERATIVES IN SHARED OWNERSHIP (pdf 172KB);
- SWORN APPRAISAL 6A OWN CONSTRUCTION, COMPLETION AND/OR EXPANSION ON OWNED LAND (1st INSTALLMENT DISBURSEMENT PHASE) (pdf 132KB);
- SWORN APPRAISAL 6B OWN CONSTRUCTION, COMPLETION AND/OR EXPANSION ON OWNED LAND (BALANCE DISBURSEMENT PHASE) (pdf 175KB);
- SWORN APPRAISAL 7A PURCHASE OF GARAGE/PARKING SPACE, BUILT BEFORE 01/09/1967 (pdf 153KB);
- SWORN APPRAISAL 7B PURCHASE OF GARAGE/PARKING SPACE (pdf 152KB);
- SWORN APPRAISAL 7C OWN CONSTRUCTION OF GARAGE/PARKING SPACE (1st INSTALLMENT DISBURSEMENT PHASE) (pdf 131KB);
- SWORN APPRAISAL 7D OWN CONSTRUCTION OF GARAGE/PARKING SPACE (BALANCE DISBURSEMENT PHASE) (pdf 173KB);
- SWORN APPRAISAL 8A RENOVATION OF DWELLING BEFORE 01/09/1967 (pdf 154KB);
- SWORN APPRAISAL 8B RENOVATION OF DWELLING (pdf 153KB);
- SWORN APPRAISAL 9A FOR MORTGAGE LOAN FOR REASONS OF STUDY ENROLLMENT AND ATTENDANCE IN ITALY OR ABROAD, OF THE MEMBER OR A MEMBER OF HIS/HER FAMILY, AT VOCATIONAL TRAINING INSTITUTES, WHICH ISSUE LEGALLY RECOGNISED QUALIFICATIONS BEFORE 01/09/1967 (pdf 156KB);
- SWORN APPRAISAL 9B FOR MORTGAGE LOAN FOR REASONS OF STUDY ENROLLMENT AND ATTENDANCE IN ITALY OR ABROAD, OF THE MEMBER OR A MEMBER OF HIS/HER FAMILY, AT VOCATIONAL TRAINING INSTITUTES, WHICH ISSUE LEGALLY RECOGNISED QUALIFICATIONS (pdf 165KB).
Processing times of the measures
The deadline to define the measures was set at 75 days by the Regulation for the definition of the terms to conclude the administrative proceedings adopted by INPS pursuant to Article 2 of Law no. 241/1990. In any case, the claimed loan must be paid within 120 days from the submission of the claim.
The table attached to the Regulation shows both the deadlines for defining the measures established by the Institute that are longer than the normal 30-day period, and the indication of the relative manager.