Not be able to provide any form of financing
This is an omitted general principle which will not be able to provide any form of financing, except, but required by law , as we will see , of Italian pensioners residing outside of Italy but earners of an Italian pension. Then, while being resident in Italy is an essential requirement that no bank or financial institution can ignore, we have some “requirements” (in quotation marks) which, on the other hand, are totally at the discretion of the institution to which the foreign pension holder applies. Let’s see.
Loan with foreign pension in Italy: what are the pseudo requirements that a bank may not accept. First of all, the origin of the foreign pension. One account is a country belonging to the European Union or in any case a western country, another account is other countries: think, for example, if today (2020) you propose a loan with a pension paid by a country like Argentina or Venezuela.
There should be no problems if the pension is for example
The example makes us understand everything! While, from common experience, we know that, normally, there should be no problems if the pension is for example German, French, Swiss, etc. Another aspect that reassures the lender is the channeling of the pension into an Italian current account. If all this were not enough to insure the lender then there is no other solution than to seek the intervention of a third party guarantor.
This is the situation of foreign pension loans in Italy. But those who are really worse off (from the point of view of granting a loan) are the workers who are not yet retired and therefore have not so much a foreign pension, but a foreign employer. We talked about it on loan in Italy with a foreign paycheck to which we refer any interested parties.
Loans with foreign pension: the reverse case.
What if, on the contrary, an Italian with an Italian pension but residing abroad wants to apply for a loan? So, before ending, where it can be useful, we represent the inverse situation: Italian pension loans to Italians residing abroad. That of the escape of our pensioners to countries where we live better (places with a milder climate, with less taxes, etc.) is constantly increasing.
These our countrymen can sell their fifth of retirement without any problem while living outside Italy. The whole procedure is carried out online both through INPS and through a financial company. Once the loan has been received, the portion (one fifth) of the pension will be retained.