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Foreign Purchase Mortgage

  • 23-07-2013 9:02am
    #1
    whomitconcerns
    Registered Users, Registered Users 2 Posts: 4,396 ✭✭✭


    Anyone know what banks work best for foreign purchases, if at all. Looking at buying in Romania and local rates there are 7.8% APR, so can I get a mortgage in Ireland or whose best to speak to?


Comments

  • #2
    skippy2
    Registered Users, Registered Users 2 Posts: 393 ✭✭skippy2


    Simple answer would be Forget it. You cant even get a mortgage to buy in Ireland.


  • #3
    byronbay2
    Registered Users, Registered Users 2 Posts: 1,772 ✭✭✭byronbay2


    whomitconcerns wrote: »
    Anyone know what banks work best for foreign purchases, if at all. Looking at buying in Romania and local rates there are 7.8% APR, so can I get a mortgage in Ireland or whose best to speak to?

    You definitely won't get a mortgage in Ireland on a property in Romania. Your only hope is to get a loan from a Romania-based bank. I don't know how easy (or otherwise) this will be.


  • #4
    whomitconcerns
    Registered Users, Registered Users 2 Posts: 4,396 ✭✭✭whomitconcerns


    its grand I have contacts there and a basis for a loan...was just wondering about here. Thanks anyway!!


  • #5
    roro2
    Registered Users, Registered Users 2 Posts: 412 ✭✭roro2


    Zero possibility in Ireland, unless you have unencumbered property here as security and even then it's very unlikely. And that's before considering taking on a whole load of FX risk to save 1-2% on the interest rate - google Euro Mortgages in Iceland.


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