Are you an Irish citizen working abroad thinking about buying a dream home in your homeland? Expat mortgages in Ireland are an excellent way for people living abroad to purchase homes or apartments in Ireland.
An Expat mortgage works in the same way as a regular mortgage. However, due to the risk associated with expat lending, some mortgage lenders’ eligibility criteria and checks may be extremely stringent. Advice from an Expat mortgage broker is a must if you decide to apply for an expat mortgage. This will boost your approval chances and ensure you get hold of the best possible rate of interest.
Who Qualifies For This Mortgage?
- Must intend to move back and live on the property
- Must have proof of income from your employer for at least the last year
- Banks will only lend you 65% of the purchase price (or valuation—whichever is lower), requiring that you raise a deposit of 35%.
- Maximum loan term for expat mortgages is 25 years.
- Maximum mortgage completion age is 65 years
Procuring An Expat Mortgage In Ireland
An expat mortgage is exactly what it sounds like: a mortgage tailored to expats. Expats are people who live in a country that is not their home country.
An expat mortgage is commonly misunderstood to be a mortgage for overseas property. In reality, expat mortgages are mortgages in the expat’s home country that they can obtain while living in another country.
With the assistance of our specialized Expat mortgage specialists, you can apply for an expat mortgage in Ireland without any hassles. Depending on the bank’s policy and your records, you may be offered or rejected an expat mortgage. Obtaining a buy-to-let expat mortgage is typically more challenging than purchasing a mortgage for a home for living in.
For advice on expat mortgage plans, contact our expert financial advisors today!
Benefits of Using ExPat Mortgage Broker
- Offers more and better financing options
- Provides valuable expert advice for UK expats
- Quick and Efficient
- Save money by using an expat mortgages expert
- Hassle-Free processing of legal documents