Bank of Italy Guides. Buying a home: Mortgages made easy

A mortgage is a medium- to long-term loan, usually with a duration of 5 to 30 years. The borrower generally receives the entire amount in a lump sum and repays it over time in fixed or variable instalments. A mortgage is used to buy, build or renovate a building, particularly residential property. A mortgage is secured by the property it is used to purchase.