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Mortage from abroad

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  • 25-02-2019 10:39pm
    #1
    dev_ire
    Registered Users Posts: 157 ✭✭


    Hi,

    would any bank grant you a Mortgage based on previous 6 months salary paid by an Irish company but paid to you while you were not working in Ireland?

    I am assuming not, but just curious.


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    #2
    Walker63
    Registered Users Posts: 11 ✭Walker63


    Hello,

    well technically they can give you a mortgage, it only based that you have a permanent contract and you have an address in Ireland. If you explain that it's for having a house to sit in when you finish working abroad, there is no reason not to. But those condition are mostly for workers who have paid accomodation abroad.

    But If you live in a other country, pay a rent etc etc. they will more likely not take the risk because they don't have any way of controlling your expenses abroad.

    It always depends on who you have in front of you ^^

    Hope it helped.


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    #3
    dev_ire
    Registered Users Posts: 157 ✭✭dev_ire


    Ok, worth asking around to the banks and seeing. Thanks.


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    #4
    6ix
    Registered Users Posts: 764 ✭✭✭6ix


    Not sure of your exact situation, but a few of the banks will deal with Irish people living abroad. You will usually face additional conditions - e.g it's a Buy to Let mortgage, so higher interest rates, and the deposit will be a lot higher than normal (e.g. 35%). I know some people who've bought from Australia/UK in recent times.


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    #5
    The_Conductor
    Moderators, Society & Culture Moderators Posts: 32,280 Mod ✭✭✭✭The_Conductor


    Depends on the lender- but I do know BOI have issued mortgages for Irish people in the UK to buy property in Ireland recently (in both cases it was on the strict proviso that the property was not a BTL property). The intention was that the individuals concerned were in the process of moving home (neither have yet) and wanted to buy as they were unable to rent in the areas in which they were interested in living. Both of the cases I know of- involved people in the financial sector who were transferring home (at least so they thought).


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    #6
    Jude13
    Registered Users Posts: 3,804 ✭✭✭Jude13


    Yes BOI do, on buy to let with a 45% deposit. However, the six months employment may be an issue.


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    #7
    dev_ire
    Registered Users Posts: 157 ✭✭dev_ire


    Jude13 wrote: »
    Yes BOI do, on buy to let with a 45% deposit. However, the six months employment may be an issue.

    It would not be a buy to let it would be to live in as my PPR. At least hopefully.


    The 6 month employment I mean I would have 6 months payslips, bank statements, proof or rent and savings. I would have much more than 6 months actually.


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    #8
    Jude13
    Registered Users Posts: 3,804 ✭✭✭Jude13


    We were not letting ours either however as we are abroad we were told we could only get a buy to let, this was from three lenders


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    #9
    dev_ire
    Registered Users Posts: 157 ✭✭dev_ire


    Which 3 lenders if you dont mind saying?


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    #10
    Jude13
    Registered Users Posts: 3,804 ✭✭✭Jude13


    Not at all, Ulster and BOI, can't remember the third.


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