Buying your first home on lease as you would a car or boat. It is the new possibility provided for by the 2016 stability law and which UniCredit is the first in Italy to offer to the market thanks to its subsidiary UniCredit Leasing.
From 26 April next it will be possible to progressively acquire the first home at the 3.200 branches of UniCredit active in Italy with a tool, that of leasing, which has always been dedicated to businesses and VAT numbers, and which is now also accessible to private individuals.
“Real estate leasing is an innovative tool – said Gabriele Piccini, UniCredit Country Chief of Staff Italy – which above all meets the needs of young people and, more generally, those with an annual income of less than 55 euros: we are talking about a market that in Italy has over 1 million 100 thousand people. It is a new tool for buying a first home, which adds to that of the traditional mortgage loan: leasing, in fact, is aimed above all at those young people or couples who, thanks to this tool, will be able to aspire to a property bigger than they could afford with a mortgage loan”
In practice, UniCredit, through its subsidiary UniCredit Leasing, will purchase the property and the user will pay a "periodic rent": in the end, he will be able to redeem the house. Great advantage is represented by the tax deductibility of real estate leasing. For over 35s with incomes below 55 euros (about 900 in Italy - source: Agenzia delle Entrate) the fees up to 4 euros a year are deductible for Irpef purposes to the extent of 19% as well as the final redemption up to 10 thousand euros.
Even greater is the advantage for under 35s with incomes below 55 thousand euros (about 200 thousand in Italy - source: Agenzia delle Entrate): the amounts reach 8 thousand euros for the fees and 20 thousand euros for the purchase cost against the exercise of the final option. The minimum amount payable amounts to 50 thousand euros and may have repayment plans ranging from 10 to 30 years.
“This tool – adds Corrado Piazzalunga, CEO of UniCredit Leasing – has considerable advantages and also numerous safeguards for those who choose to use it. In fact, the legislator has provided for the possibility of requesting the suspension of the leasing installment for a maximum of 12 months in the event of job loss. This initiative will also be able to give new impetus to the recovery of the real estate market, with positive effects in terms of generating new jobs in the construction sector and with a useful contribution in bringing out the undeclared real estate rental”.
