Hi all, would appreciate some help on the below.
I moved to England 4 years ago and have been working in the UK ever since. I’m 29 and currently on a salary of 26,000 though this is currently maternity cover ending in december so I’m obviously looking for a permanent job next.
I’ve got 10,000 sterling saved up and would like (after getting it up more to about 20,000) to buy my first house… but in Ireland. I’d like to buy a 3 bed in Dublin and rent it, while I continue to work in the UK. I’d love to live and work in Ireland, but the unemployment is so high right now it’s not really an option.
I’ve been told a UK lender will not lend on a BTL basis in another country and I need to see if an Eire lender would lend to me.
My question is will an Irish bank consider lending to me, provided of course I’m in permanent employment? I’m under the impression you can’t have a buy to let mortgage as your first one (is this entirely true? I’d imagine you can just get a normal mortgage and then rent your house out, provided there’s nothing written into the contract saying you can’t?), but my situation is a little different from normal buy to let (I’d live in it if I could, but I can’t).
I’m flying blind a bit with this as I’ve been told Irish lenders may not lend to me because I work in another country and they can’t easily pull info on me about my employment/credit rating etc.
I think I represent a low risk candidate (assuming I’m in a permanent job) - no dependents, ok salary, no credit cards, excellent credit history (checked with experian’s free trial) and if I can provide all the info about my financials over here they should take them into account?
I’m nowhere near ready to buy yet, just trying to gather some preliminary info for the future. If anyone has any solid information about cases like mine that’d be really useful!