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buying a house - living abroad

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  • 11-02-2015 4:05pm
    #1
    gauffres
    Registered Users Posts: 9 ✭


    My family moved abroad in 2009 leaving our house in Irl which we rented.  We have since decided that we would like to move back to Irl and have seen a property that we like.  The house in Irl which we  bought in 2008 is in neg equity and I am presuming we would need to sell that before buying another property.
    Re our current financial situation, my husband works here earning a good salary.  The plan is for us (me and kids) to move to Irl, for him to stay abroad working coming home weekends and holidays.   Is it acceptable for an Irish bank to give a mortgage for an Irish property based in an income earned abroad??? Also, do we only need a 10% deposit as we are in neg equity and wish to move?

    The other issue is the house we wish to buy is currently a  B and B.  We would hope to maybe continue this use on a small scale (3-4 bedrooms) as a means of additional income .  In this situation , would we still be eligible for a residential mortgage as it would also be our main home and the B&B would only be ancillary??

    Many thanks for taking the time to read my questions and any help would be much appreciated.


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    #2
    Bank of Ireland: Billy
    Closed Accounts Posts: 1,066 ✭✭✭Bank of Ireland: Billy


    gauffres wrote: »
    My family moved abroad in 2009 leaving our house in Irl which we rented.  We have since decided that we would like to move back to Irl and have seen a property that we like.  The house in Irl which we  bought in 2008 is in neg equity and I am presuming we would need to sell that before buying another property.
    Re our current financial situation, my husband works here earning a good salary.  The plan is for us (me and kids) to move to Irl, for him to stay abroad working coming home weekends and holidays.   Is it acceptable for an Irish bank to give a mortgage for an Irish property based in an income earned abroad??? Also, do we only need a 10% deposit as we are in neg equity and wish to move?

    The other issue is the house we wish to buy is currently a  B and B.  We would hope to maybe continue this use on a small scale (3-4 bedrooms) as a means of additional income .  In this situation , would we still be eligible for a residential mortgage as it would also be our main home and the B&B would only be ancillary??

    Many thanks for taking the time to read my questions and any help would be much appreciated.
    Hi gauffres,

    Thanks for your post and welcome to Boards.ie

    Although we cannot give mortgage advice here on Boards, we have a two minute mortgage application that you can access here

    When the form is submitted, a Mortgage Adviser will review and contact you directly.

    You can also arrange a call-back from a Mortgage Adviser here

    Thanks

    Billy


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