mossywossy

me, the missus and the little one want to move to ireland.
we have about £200k to put spend on a property but an extra 50/60k would help.
does anybody know how or if we would be able to get a mortgage?
we currently have no promises of employment but we are looking and guess having a job we could walk into when we get there would help.
my partners parents were both irish and we're lead to believe she would be eligible for an irish passport - im guessing this may also help???
we would appreciate any advice given.

mossywossy

bump

jdr

I don`t know about Ireland, but I think getting a mortgage depends on proof of being able to pay back the loan, ie job and good credit rating.
Someone will be along eventually although it is a very quiet forum.

Where are you Jock....

Londonuck

Pub

jdr

More than likely. lol

Irelandexile

I am sure you will be able to get a mortgage eventually but I would not say immediately even if you have a job to come to. We moved over here three years ago and found that even though I had a "reference" from my South african bank, they will not give you a cheque account or a credit card for the first few months. We did not even bother trying for a mortgage. Now we are looking at property because the market is down and prices and stamp duty have dropped although interest is up
Regarding the passport issue , yes your wife should be eligible as I also had Irish born parents. Feel free to ask more questions. Also if you want I can get you contact details for mortgage originators. Maybe as a non resident with a large deposit, it is possible to buy immediately, not sure about that.

Jen

Jock04

Correct! I was in the pub, but this time the pub was on Koh Samui, Thailand. Very nice it was too.

Re mortgages, like anywhere else the bank simply want to know you can afford the re-payments.

Even though you have a very healthy deposit, you'll probably find that the bank will want to see that you have a steady income from somewhere to make your monthly payments. Given the size of your deposit, I doubt that the 2% stress test will cause you any problems. Unless you're thinking of moving to Dublin you shouldn't need an enormous mortgage anyway, and I don't see you having much problem getting one. But I'm certain that you WILL have to show how you'll make the re-payments, whatever size they are.

I'm still not sure if I'm ready for breakfast or dinner (jetlag), but come back with any questions & I'll hopefully be more helpful tomorrow!

mossywossy

many thanks to all that replied to my original post!
just got back from the lovely leitrim as we spent the weekend house hunting -there's some absolutely astonishing homes on the market at astonishing prices.
we're going to watch the housing market as it seems to be declining slowly in ireland. we have 2 properties to sell in the u.k.(market prices also dropping!) and have some 'loose ends' to tie-up before we consider making any offers.
through a very friendly estate agent i got a phone number and spoke briefly to a mortgage advisor, he assured me there would be 'absolutely no problem' in getting a mortgage. they would calculate the repayments from my total household earnings here in the u.k. 'as there are a lot of people buying holiday homes that dont reside in ireland'.
however - he was sending me details today by email that are not yet received.
i will keep you all posted - fingers crossed!!!
again many thanx for advice and opinions given and we still welcome all voices and views.

scaffroche

You will definetly be able to buy a house if you 1. Have deposit 2. Job. The way it works here is that they give you a mortgage based on what you earn and ability to repay . So if you have only a small mortgage it should be no problem .