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Paying for house in Ireland from the UK- Help!

Paying for house in Ireland from the UK- Help!

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Old Jul 13th 2018, 8:25 pm
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Default Paying for house in Ireland from the UK- Help!

Just wondering if anyone who has purchased a property in Ireland (or abroad) from the UK has any advice or experience that may help us.

We are due to move in 2 weeks and wanted to use a currency exchange to send the money from our UK Solicitor to our Irish Solicitor upon completion so that the house and Irish Solicitors costs etc can be paid for.

Our UK Solicitor has emailed us this afternoon to advise that it is not possible for them to pay the money to the currency exchange company as the exchange company would be a third party to the transaction. They have said they can only pay in to our own bank account upon completion.

So, we can make further phone calls etc on Monday morning to check further but until then can anyone offer some further advice on what our next step is?!...How did you all pay for your overseas properties? ..... Thank you!
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Old Jul 13th 2018, 9:50 pm
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Default Re: Paying for house in Ireland from the UK- Help!

This sounds a bit simplistic but why not open an Irish bank account? I opened one when I sold a house there, yet I was here in the UK at the time.
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Old Jul 14th 2018, 5:24 pm
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Default Re: Paying for house in Ireland from the UK- Help!

Originally Posted by jonboy View Post
This sounds a bit simplistic but why not open an Irish bank account? I opened one when I sold a house there, yet I was here in the UK at the time.
Faulty memory alert!
I opened the account in person, when I was in Ireland. I do not know you may be able to do that from the UK otherwise a trip over beckons. Perhaps open an online Irish account?
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Old Jul 14th 2018, 6:44 pm
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Default Re: Paying for house in Ireland from the UK- Help!

Originally Posted by jonboy View Post
Faulty memory alert!
I opened the account in person, when I was in Ireland. I do not know you may be able to do that from the UK otherwise a trip over beckons. Perhaps open an online Irish account?
Thank you very much for your replies- I think you’re right in that we will have to wait until we’re there to open a bank account- it’s just now arranging to get the money transferred across from the U.K. to Ireland as our Solicitor’s won’t let us use a currency exchange company which is strange! We would save quite a bit of money if we use a currency exchange company and not a bank.

thanks again for your reply.
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Old Jul 16th 2018, 5:37 pm
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Default Re: Paying for house in Ireland from the UK- Help!

Originally Posted by olympus01 View Post
our Solicitor’s won’t let us use a currency exchange company which is strange!
Not at all. Two words - second is Laundering
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