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Living abroad - want to buy house in Ireland

  • 13-05-2009 8:52pm
    #1
    dazzerb
    Closed Accounts Posts: 156 ✭✭


    I am Irish living aboard for the last ten years. If I wanted to buy a house in Ireland would I be able to finance it via an Irish financial institution or would I need to borrow money from where I currently reside and work?

    any ideas?


Comments

  • #2
    Victor
    Registered Users, Registered Users 2 Posts: 78,580 ✭✭✭✭Victor


    It would make sense to borrow in euro. Irish banks would be cautious that you aren't based here and foreign banks would be cuatious that the asset isn't in their jurisdication. Try to find a bank that operates in both.

    Are you sure you want to buy here?


  • #3
    chopley
    Closed Accounts Posts: 37 ✭chopley


    dazzerb wrote: »
    I am Irish living aboard for the last ten years. If I wanted to buy a house in Ireland would I be able to finance it via an Irish financial institution or would I need to borrow money from where I currently reside and work?

    Most banks will only offer mortgages for houses in their own market, although there are exceptions (e.g. banks offering mortgages for second homes in France or Spain are increasingly common), so you'll probably do best talking to an Irish mortgage lender. Most will probably be happy to lend as long as you have a fairly substantial deposit (= reduced risk for the lender). I knew a Brit who lived and worked in Belgium and then decided to buy a house in the UK. IIRC the bank required a 30% deposit.


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