Can I move my mortgage to another bank to pay less?
Yes: portability is free and the old bank can't prevent it. Mortgage portability (surroga, introduced by the Bersani law) lets you transfer the mortgage from one bank to another offering better terms (lower rate, different term), keeping the same amount of outstanding debt. It's free for the customer: no penalties, no notary fees on you, no processing fee or new tax; the costs are on the new bank. The old bank can't refuse or obstruct it, and it must be completed quickly (generally within about 30 days). You can't, however, increase the amount with portability alone: for extra liquidity you need a renegotiation or a new mortgage. It's a useful chance when rates fall.
📋 The rules
- Transfer the mortgage to another bank with better terms
- Keep the same amount of outstanding debt
- It's free: no penalties, notary fees or taxes on you
- The old bank can't refuse or obstruct
- Quick operation (generally within about 30 days)
🔓 Exceptions
- To increase the amount you need a renegotiation or a new mortgage (not portability)
- The new bank still assesses the customer's reliability
- Renegotiation: an agreement with the same bank, an alternative to portability
⚠️ Penalties & fines
Portability is a customer's right: if the old bank unjustifiably obstructs or delays it beyond the set times, it owes compensation and you can complain, also to the Banking and Financial Ombudsman (ABF) or the Bank of Italy. Be careful not to confuse portability with other operations: replacing the mortgage (a new mortgage to pay off the old) can have costs; renegotiation with the same bank is another route. Before choosing, compare the APR, term and terms of several offers. Keep the documentation and check that no undue costs are charged.
📎 Official sources
- Bank of Italy · Mortgage portability and surroga →
- Normattiva · Law 40/2007 (Bersani law, mortgage portability) →
- Ministry of Enterprise and Made in Italy · Consumer protection →
❓ Frequently asked
What is mortgage portability?
It's transferring the mortgage from one bank to another offering better terms, keeping the same amount of outstanding debt. It's free for the customer and the old bank can't refuse or obstruct the operation.
Does portability have costs?
No, not for the customer. With portability you don't pay early-repayment penalties, notary fees on yourself, processing fees or new taxes: the costs are on the new bank. It differs from replacing the mortgage, which can entail costs for the customer.
Can the bank refuse portability?
No. The old bank can't refuse or obstruct mortgage portability. If it unjustifiably delays the operation beyond the set times (generally about 30 days), it owes compensation, and you can complain also to the Banking and Financial Ombudsman or the Bank of Italy.
Can I increase the mortgage amount with portability?
No. Portability keeps the same amount of outstanding debt: it only serves to get better terms. For extra liquidity you must use a renegotiation with your bank or a new mortgage, which are different operations with their own rules.
When is portability worthwhile?
Especially when market rates fall or you find an offer with better terms than yours. It's worth comparing the APR, term and fees of several proposals. Since portability is free, it's a useful tool to reduce the instalment or the overall mortgage cost.
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