Mortgages for non residents

Is it still possible for Irish non residents to get a mortgage? I got a no from the EBS. Is anyone saying yes it is possible? Thanks

Talking to a mortgage broker before I moved back to Ireland I was advised that no bank would consider a non-resident mortgage and that I would need to establish that my return to Ireland was genuine by conducting normal banking operations within Ireland for a period of six months before any of them would look at an application. That was just the opinion of one broker so take for whatever it’s worth, but it was given almost a year ago and things have only got tighter since.

I know of someone who lives abroad and got a mortgage last summer. However, he had a deposit of about half the purchase price and had been with the bank for years. He said he had no choice of lender as only his own bank would consider him.

How can you be a non resident with a mortgage? :angry:

In happier (more reckless) times it wasn’t a problem at all. You wouldn’t get 100% but as long as you were putting up enough that the bank didn’t think there was any risk of negative equity (naive) it wasn’t a problem. I know a few people who did it for buy to lets, holiday homes or houses that were initially to be let but with the intention of becoming the family home when the purchaser moved back to Ireland. At least one of the people I know who did it wasn’t even Irish to begin with but just fancied a holiday home here.

I was being a tad factitious but thanks for the insight.

Truth is and always has been our our shelter procurement systems need a total rebuild.

Dear Nationaliized. How can I be a non resident with a mortgage? By being Irish with US citizenship and working and paying tax there. By being 51 and and loving my job but not wanting to live my life allways in ther US. By choosing a job which I love but does not pay a lot of money (by western standards). I worked in Ireland while I lived there, I paid my taxes, I will go back some day. Who the hell are you to say that a “non resident” should not get a mortagage from an institution where they have saved some money. Damn you.

At 51 and non-resident wouldn’t you be expected to have a very low LTV? I can’t see it being a problem.

Yes you can gets loans even if you dont live in Ireland. but most likely you will have to pay a higher rate and may be subject to taxes.

Also the IRS may view your purchase as a currency hedge.

you must declare the loan/property when you file…

EBS are not lending, period
only players are BOI AIB and KBC

In the good old days of 2006, I (a long term Canadian resident) was offered a mortgage on a flat in Tralee by AIB. They didn’t seem too bothered by how much cash I would put down. Fortunately, I never followed through.