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Using equity in Ireland to buy overseas

  • 17-05-2017 8:08pm
    #1
    Aspendale
    Registered Users Posts: 1 ✭


    Hi,

    Just wondering if anyone has any knowledge about using equity in my house in Ireland which is fully paid for to purchase another property overseas

    Any help appreciated.

    Regard


Comments

  • #2
    MFS2
    Registered Users Posts: 35 ✭MFS2


    Aspendale wrote: »
    Hi,

    Just wondering if anyone has any knowledge about using equity in my house in Ireland which is fully paid for to purchase another property overseas

    Any help appreciated.

    Regard

    This was very common back in celtic tiger days. Seems its starting up again. Basically, an Irish bank will lend against the Irish property and what you use the money for is up to yourself i.e. buying abroad. In my experience Irish Banks can't take security over foreign assets (open to correction here).

    Usual terms and conditions re LTV and ability to repay.

    I would caution you, it didn't work out well for a lot of others in the past.


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