How much does switching mortgage lenders in Italy cost?
Mortgage portability in Italy costs EUR 0 for transferring the outstanding balance; you still repay the loan and its interest.
Verifiable answer
Mortgage portability in Italy costs EUR 0 for transferring the outstanding balance; you still repay the loan and its interest.
- How much does switching mortgage lenders in Italy cost?
- €0 / mortgage transfer
- €0
- Italy
- 8 September 2026
- Confidence: High
- Closing the original loan as part of portability; Granting the loan that covers the outstanding balance; Transfer without a borrower penalty
- Repayment of the outstanding principal; Interest under the new repayment schedule; Optional advice commissioned separately; Ancillary products requiring an individual quote
- New interest rate and whether it is fixed or variable; Keeping or extending the remaining term; Outstanding principal; Terms of ancillary services
- 3 sources
Short answer
Italy’s mortgage portability procedure is free for the borrower. Whether switching saves money depends on the new terms and repayment period.
Switching mortgage lenders can make sense when another lender offers terms that better fit your household budget. In Italy, the procedure known as surroga has no transfer charge for the borrower. That answers the question of what it costs to move the debt, but it does not tell you what the replacement loan will cost over its remaining life. A smaller monthly payment can come from a better interest rate or from spreading repayment over a longer period. Those choices have different consequences for the total amount you repay. Start with your current repayment schedule and compare it with a personalised offer based on the same outstanding balance. This guide covers mortgage portability without additional borrowing. It does not estimate a typical adviser’s fee or promise a particular saving. Keep the transfer process and the ongoing loan budget separate when reading an offer: a free switch does not erase the principal, make future interest disappear or establish that every optional service is worth buying.
What is included
- Closing the original loan as part of portability
- Granting the loan that covers the outstanding balance
- Transfer without a borrower penalty
What is not included
- Repayment of the outstanding principal
- Interest under the new repayment schedule
- Optional advice commissioned separately
- Ancillary products requiring an individual quote
How the price breaks down
| Item | Type | Frequency | Typical |
|---|---|---|---|
| Mortgage portability procedureBorrower’s charge for moving the outstanding balance to another lender without borrowing extra money. | Compulsory | one-off | €0 |
What the price depends on
- New interest rate and whether it is fixed or variable
- Keeping or extending the remaining term
- Outstanding principal
- Terms of ancillary services
Hidden costs
- Extending the term may increase total interest even when monthly repayments fall.
- A separately appointed adviser may charge a fee: read the engagement terms first.
- Insurance and banking services under the new arrangement need their own cost comparison.
How to spend less
- Compare offers over the same remaining term before considering an extension.
- Request personalised information showing overall costs as well as the advertised payment.
- Obtain your outstanding balance and repayment schedule so each offer uses the same starting point.
- Ask an adviser you appoint to disclose any separate fee in writing.
- Compare an offer from your existing lender with the portability proposal, keeping the procedures distinct.
Frequently asked questions
Does switching erase my mortgage debt?
No. Mortgage portability changes the lender receiving your repayments. The new loan covers the outstanding balance, which you then repay under the agreed terms. The EUR 0 headline applies to the transfer procedure. To work out your future spending, read the proposed repayment schedule and distinguish the principal you owe from the interest charged on that balance.
Can I borrow extra money at the same time?
The portability procedure covered here is for an amount equal to the outstanding mortgage balance. If you also need cash, ask the lender what type of transaction it is proposing and which charges apply. Do not assume that free portability extends to a different loan. The offer should distinguish the money used to repay the existing mortgage from any additional borrowing.
Does my current lender have to approve the move?
The Bank of Italy explains that portability can take place without the original lender’s consent. However, this does not mean the new lender must approve your application. You still need an offer and must complete its assessment. Gather the documents for your current mortgage and ask the prospective lender for its exact requirements before arranging the transfer.
Does a lower monthly payment always save money?
No. A longer term spreads repayment over more instalments and can ease your monthly budget without reducing the total paid. Compare the current and proposed schedules using the same outstanding balance. Look at the overall repayment amount and ancillary terms as well as the monthly figure. A free transfer, on its own, does not establish that switching is cheaper.
Will I pay a penalty to leave my lender?
The sources checked confirm that mortgage portability carries no transfer penalty or charge for the borrower. If an offer contains an item that appears to charge for changing lenders, ask for a written explanation and confirm that the transaction really is portability. Separately commissioned advice is a different contract, whose terms should be checked before you sign it.
Sources and methodology
How we worked it out
We checked the Bank of Italy’s definition of mortgage portability against BBVA’s customer information, which explicitly confirms that switching is free and carries no transfer penalty. The Bank of Italy’s mortgage guide also explains the procedure and comparison of loan terms. Our headline amount covers the borrower’s transfer charge only. We have not added future interest, separately commissioned advice or optional products because their costs require an individual offer. No average has been inferred from advertised rates. We also exclude the current-account switching deadline mentioned on the glossary page, since it is a different procedure.
Why this confidence level
High confidence applies to the absence of a transfer charge: the Bank of Italy and a lender’s service information agree. Actual savings cannot be established without the borrower’s balance and individual terms.
Mortgage portability carries no closing or new-loan charges
Chiusura e nuovo finanziamento gratuiti nella portabilità del mutuo (opens in a new tab)
Banca d’Italia · Regulator · Verified on 8 September 2026
Checked the mortgage definition; current-account switching deadlines are excluded.
Authority4/5
Bank confirms free mortgage switching and no transfer penalties
Surroga gratuita e assenza di penali confermate dalla banca (opens in a new tab)
BBVA Italia · Official tariff · Verified on 8 September 2026
Checked mortgage-switching answers; account promotions and advertised interest rates are excluded.
Authority4/5
Fee-free portability and how to compare mortgage terms
Portabilità senza oneri e confronto delle condizioni del mutuo (opens in a new tab)
Banca d’Italia · Regulator · Verified on 8 September 2026
Checked portability against BBVA’s current service information; no personal savings estimate is inferred.
Authority4/5
Revision history
First published on 8 September 2026: checked free portability and separated transfer charges from future loan costs.
- 8 September 2026
- 8 September 2026
- 8 December 2026
What did you actually pay?
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