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Buying an Irish property from abroad? Advice needed.

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  • 10-04-2013 2:30pm
    #1
    Mindfulness
    Registered Users Posts: 118 ✭✭


    A old college friend of mine has lived in England for 7 years and only occasionally puts money into her Irish bank account so that she will have Euro to spend when she is at home.

    She wants to return home and buy a house here but will need to sell her house in England first. This should give her approximately 40-50% of the cost of the house she buys in Ireland so she will need a 50-60% mortgage.

    The company she works for are willing to keep her on and pay her salary (in Euro) into an Irish bank account. If she got a 10 year mortgage her monthly payment would be about 25-30% of her monthly salary.

    Questions:
    Does she have to be resident in Ireland to buy a property here?
    Will a bank consider her UK credit rating or if she supplies documents to show her mortgage history will a bank here accept that?

    Any other advice is appreciated.


Comments

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    #2
    whatnext
    Registered Users Posts: 915 ✭✭✭whatnext


    I would suggest she sound out a broker, they will know how to put the case to the bank in a way that suits what the bank wants to hear.

    If she is going to live in the property as her principal place of residence I cant really see any major issues.

    I've never had an issue getting UK mortgage from here, once you have a decent deposit life is a hell of a lot easier.


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    #3
    Strong arm
    Closed Accounts Posts: 19 ✭Strong arm


    She does not need to be Irish resident to buy here whether she lives in it as her ppr or not.

    Her bank in the uk might be willing to give her a mortgage seeing as she has an existing relationship with them. Alternatively if she has a good deposit and good income with low/ no debt she should be ok but she should go to her own bank first.


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