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Irish resident looking to buy abroad

  • 07-04-2022 07:25PM
    #1
    Juza1973
    Registered Users, Registered Users 2 Posts: 142 ✭✭


    Hi,

    I'm an Irish resident looking to buy abroad (Italy), is there any chance to find an Irish bank that could accomodate me? Thank you!



Comments

  • #2
    DubCount
    Registered Users, Registered Users 2 Posts: 1,151 ✭✭✭DubCount


    You are far more likely to get a mortgage from an Italian Bank on an Italian property. An Irish bank will not want to get involved in repossessing an Italian property if you default etc. Besides, Irish banks are not known for super low interest rates. I'd see if you could find a local mortgage broker.



  • #3
    phormium
    Registered Users, Registered Users 2 Posts: 3,504 ✭✭✭phormium


    Not really unless you have an Irish property to borrow against and even then it would probably be difficult. For example back in Tiger days lots of people borrowed against the imagined equity in their homes here to buy places abroad, didn't go well for many!

    An Irish bank is not going to give you a mortgage and take a property outside the state as security, too much hassle for them.



  • #4
    Juza1973
    Registered Users, Registered Users 2 Posts: 142 ✭✭Juza1973


    Confirmed, I was "forced" to relocate to Italy to get the mortgage!



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