100% mortgages for overseas property?

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MortgageMate

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Has anyone heard of any lenders in or out of Ireland lending 100% finance for purchasing overseas? Cheers J
 
My understanding is that Irish lenders will ordinarily only allow you to release equity from your existing Irish property(s). Whether this amount corressponds to 1%, 100% or 200% of the property you're buying abroad is of no concern to them as it's secured against your Irish property, not the foreign one.
 
There was an article in the Sunday Times at the weekend about a new Irish based bank launching soon called Rossbank, which will specialise in giving mortgages on overseas property. I very much doubt whether they'll give 100% though.
 
gaga said:
There was an article in the Sunday Times at the weekend about a new Irish based bank launching soon called Rossbank, which will specialise in giving mortgages on overseas property. I very much doubt whether they'll give 100% though.
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I just checked out their website and can not see any mention of overseas properties.
They just seem to be ordinary mortgage brokers.
 
The bank has not launched yet. The article said that they bought the mortgage broker as a regulated vehicle for entry into the Irish market, it's a joint venture with an International bank, and is backed by Irish business "High Rollers". It was on the front page of the business section of the paper under the heading "Big guns back new lender" if you can get your hands on a copy.
 
Yes, I saw that article as well and they (Rossbank) are going to be offering overseas mortgages without existing equity.
 
I deal with a company called e-prestamos in the us, they lend for latin american countries, in my experience with the caribbean for example if you go and purchase on an off plan development they pre qualify you for up to 80% LTV but as in the caribbean units have to be completed for the bank to give an appraissal the units would have appreciated by25% at this stage so the lender gives you 80% of the value of th property but if you have already agreed a lower price that means you would in fact be getting the 100% loan. I know people who have done this and have even been able to afford furniture for the place, I know these people are looking into expanding into europe but not guaranteed yet. I also heard of a development in shanghai for which people were getting 120% finance but the catch was that you have to be worth over 3m excluding your primary home. hope this helps.
 
A friend of mine went for an interview with Rossbank. They are basically a brokerage for banks based abroad. We have set up agencies like that also, but i've yet to come across any with 100% mortgage lending. France is the highest for us with 85% ltv.
 
I'm working with a French company who sell properties, and we have some leaseback products that offer 100% financing. Usually they would be restricted to business leasebacks, or tourism residences being run by the top management companies and built by the stronger developers though.
 
just to let you know rossbank expect to be sorted for spain portugal france italy (and i think germany) by end of june. nowhere else for the rest of the year anyway.
 
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