Building a credit rating with a bank in another country

Nuadu_of_kildar · 24-09-2016 06:18PM #1

Hi all,

Does anyone know if it is possible for me to build a credit rating with an Italian bank when I am still living in Ireland?

I am planning to emigrate to Italy in 2 years permanently so I will be looking at getting a mortgage etc down the road. Rather than having to start from scratch when my boots hit the ground Id like to get the ball rolling before I move.

I have no real experience in banking but I know to open an acc here we need PoA etc... since Im not resident yet that might be a hurdle.

Thanks,

James

Jim2007 · 25-09-2016 01:40AM

Do they even have a credit rating system in Italy???

You are moving from a common law country to a civil law country, so don't expect things to work the same. Normally all that is required is a certificate from the debtors court indicating that no one has filed a case against you. Which could be an issue if you have not been in the country long enough.

That plus the bank will at a minimum require that you meet the legal affordability rules such as:
- max mortgage is 60%
- max monthly payments 30% of net monthly income
- mortgage cleared by 75 no so on.
And so on

Nuadu_of_kildar · 25-09-2016 12:03PM

Hi Jim,

Thanks for replying I hadnt considered that the legal and banking system might be radically different from our own. Its like the 100 meter hurdles.

Building a credit rating with a bank in another country

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