Advertisement
If you have a new account but are having problems posting or verifying your account, please email us on hello@boards.ie for help. Thanks :)
Hello all! Please ensure that you are posting a new thread or question in the appropriate forum. The Feedback forum is overwhelmed with questions that are having to be moved elsewhere. If you need help to verify your account contact hello@boards.ie

Mortgage from Abroad?

  • 16-12-2015 7:32pm
    #1
    Natonstan
    Registered Users Posts: 147 ✭✭


    Just wanted to ask if anyone here has experience with getting a Mortgage on a house in Ireland while still living abroad. Myself and the wife are currently in the US, but are planning on moving back to Ireland in a few years, I look on Daft all the time at different houses but I have no idea how easy it would be to get a mortgage on a house back home before moving over, I'm sure they'd require a larger deposit/down payment?

    I'm wondering if it would be easier to find somewhere to rent beforehand and then worry about finding a mortgage on a place once we've moved back home.


Comments

  • #2
    silja
    Registered Users, Registered Users 2 Posts: 2,921 ✭✭✭silja


    I think the big problem would be lack of income, unless you already have an job secured in Ireland, such as moving home with your company.


  • #3
    Natonstan
    Registered Users Posts: 147 ✭✭Natonstan


    silja wrote: »
    I think the big problem would be lack of income, unless you already have an job secured in Ireland, such as moving home with your company.

    That's exactly what I was thinking, the company I work for doesn't have a Dublin office, only London so that leaves me with one option really, try and secure job with a company back in Ireland and get a mortgage after moving


  • #4
    Suaimhneach
    Moderators, Education Moderators, Music Moderators Posts: 4,436 Mod ✭✭✭✭Suaimhneach


    I would imagine it's possible with enough $$$ but might be better to save in the US and move back with a big deposit once you've secured jobs. Besides which, anything could happen in the mean time - that kind of risk seems very high. If one of you loses a job (happens sometimes) then both your rental and mortgage are at risk, or if there is a price crash in either locale you could be effected, or if someone gets sick..

    Also the taxes would be a nightmare. You own property abroad, and presumably earn an income renting it out til you come home - you'd have to declare all of that to the US and it would definitely effect some things and complicate others.


Advertisement