Advertisement
If you have a new account but are having problems posting or verifying your account, please email us on hello@boards.ie for help. Thanks :)
Hello all! Please ensure that you are posting a new thread or question in the appropriate forum. The Feedback forum is overwhelmed with questions that are having to be moved elsewhere. If you need help to verify your account contact hello@boards.ie
Hi there,
There is an issue with role permissions that is being worked on at the moment.
If you are having trouble with access or permissions on regional forums please post here to get access: https://www.boards.ie/discussion/2058365403/you-do-not-have-permission-for-that#latest

Mortgages and Moving abroad.

  • 29-08-2011 7:58am
    #1
    Real_World?
    Registered Users, Registered Users 2 Posts: 39 ✭


    Come early next year I'm heading to Australia. Currently have a mortgage with BOI on a 2 bed Apt in Dublin.

    I think I could get 1100 per month rent for the place but it won't cover the mortgage.

    What is the consequences of the mortgage falling short.

    If I wanted to buy a property in Australia would my credit rating in Ireland affect it. Can the BOI come after me in Australia for the outstanding debt.

    Thanks


Comments

  • #2
    Pablo Sanchez
    Closed Accounts Posts: 1,207 ✭✭✭Pablo Sanchez


    Real_World? wrote: »
    Come early next year I'm heading to Australia. Currently have a mortgage with BOI on a 2 bed Apt in Dublin.

    I think I could get 1100 per month rent for the place but it won't cover the mortgage.

    What is the consequences of the mortgage falling short.

    If I wanted to buy a property in Australia would my credit rating in Ireland affect it. Can the BOI come after me in Australia for the outstanding debt.

    Thanks

    The consequences of you not paying you rmortgage fully means your mortgage will be in arrears, so the bank would be within their rights to commence procedings against you ad ultimatly re possess your house. Leaving you to pay any capital shortfall.

    You would be better off paying the monthly shortfall from your Australian income.

    Falling into arrears affects your credit rating and i would imagine that this will follow you to Australia.


Advertisement