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Getting a mortgage loan from an Irish bank as a EU citizen moving to Ireland

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  • 07-08-2021 8:01pm
    #1
    mover56
    Registered Users Posts: 1 ✭


    Hello everyone,

    My wife and I plan to move to Ireland in a couple of months, both of us are French.

    I work in the IT sector, while my wife is pursuing her studies in Dublin. We have been thinking about buying a flat either in Dublin or nearby, since the rent prices are skyrocket in Ireland, in addition, we will be staying in Ireland for several years, and probably more.

    I will be accepting a new position in Ireland soon, and I will be the only person who will ask for the loan. As we are not Irish, we would like to hear about your experiences with getting a mortgage from Irish banks in the current situation related to Covid19, especially if you are a European national. The amount of mortgage will be around 250K to 350K.

    Any thoughts?



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    #2
    Outkast_IRE
    Registered Users Posts: 7,516 ✭✭✭Outkast_IRE


    Typically they look for 6 months of payslips from working in Ireland . After that the usual documentation applies such as bank statements from any accounts or savings.



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    #3
    wench
    Registered Users Posts: 1,644 ✭✭✭wench


    You may find it difficult to get a mortgage in just your name.

    Due to the Family Home Protection Act, both spouses have rights over the property, even if not on the deeds. Banks are therefore reluctant to issue a loan to only one spouse, and will want both on the loan agreement.

    https://www.citizensinformation.ie/en/birth_family_relationships/separation_and_divorce/family_home.html



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    #4
    wassie
    Registered Users Posts: 3,542 ✭✭✭wassie


    There are lenders who will give you a mortgage as a single applicant even though you are married. Your best to speak to a couple of a mortgage brokers and find one whom is familiar with this situation so they can advise on who to make an application with. Provided you meet all the normal lending criteria on your own, you should have no trouble, except to find you won't have a lot of choice of lenders. Again you are best to speak to broker to get answers. If they say it can't be done, find another one who will.

    Also the fact you are an EU national is beneficial and not an issue, as it means you have a right to residency. Good luck with it all.



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