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Saving for deposit while living abroad

greensheep777 · 2017-08-10 10:37:34

First up, my stats - I'm 31, single, earn 60k, first time buyer. I am very lucky in that I work 100% remotely. I have almost saved for a house deposit and would like to bump up my savings for the next few months til I get there. I am hoping to move to Budapest for a few months, or somewhere else with a much lower cost of…

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10-08-2017 11:37am

#1

greensheep777

Registered Users Posts: 219 ✭✭

Join Date: September 2016

Posts: 195

First up, my stats - I'm 31, single, earn 60k, first time buyer.

I am very lucky in that I work 100% remotely. I have almost saved for a house deposit and would like to bump up my savings for the next few months til I get there.
I am hoping to move to Budapest for a few months, or somewhere else with a much lower cost of living, to help me ramp up my savings. I'd only be there a few months (keeping my Irish tax residency). As such, I don't want to properly move into a place and have to sign any apartment leases or Wifi contracts or the like, the plan is to get an Airbnb every month.

Questions:
1. Would the banks see the Airbnb monthly payments as rent, or at least appreciate that they are for living accomodation and not a holiday?
2. I understand that the process is different for non-residents - e.g. higher deposit - but would this affect me if I'm only heading away for a few months? I will be paid in euro, my family ties are all in Ireland, and I'll be keeping my tax residency.

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