Hi
Irish Citizen living in Australia for last 13 years looking to secure mortgage to buy a property in Ireland.
Single. Employed in IT sector for full time I have been here.
Plan on moving home within next 18 months, so likely would rent out in meantime.
Looking for house in Wicklow area in 250 - 300K EUR price range. I plan to live there.
I have a deposit of 130K EUR, so for a 300K EUR property, this would be approx 43% of the property price.
Capacity to repay strong - have worked through the math with a broker in Ireland.
No outstanding debts. Very good credit history. Currently renting in Aus.
Currently working through loan application with mortgage broker.
Question:
In the event this is not successful, any other recommendations with applying for mortgage given my circumstances?
Challenges:
AUD-EUR Exchange rate. Even though I do well financially in AUS, it is not coverting to EUR well due to low exchnage rate. I could wait longer in the hope of the EXR improving but this is completely uncertain so I feel it's not a sensible option.
Other option is to hold off another year and gather more deposit savings, but concerned about house prices rising in the meantime (which again is uncertain), so would prefer to purchase sooner.
Any advice appreciated. If I have left any key information out, please ask.
Thank you
Eistigi
Irish Citizen living in Australia for last 13 years looking to secure mortgage to buy a property in Ireland.
Single. Employed in IT sector for full time I have been here.
Plan on moving home within next 18 months, so likely would rent out in meantime.
Looking for house in Wicklow area in 250 - 300K EUR price range. I plan to live there.
I have a deposit of 130K EUR, so for a 300K EUR property, this would be approx 43% of the property price.
Capacity to repay strong - have worked through the math with a broker in Ireland.
No outstanding debts. Very good credit history. Currently renting in Aus.
Currently working through loan application with mortgage broker.
Question:
In the event this is not successful, any other recommendations with applying for mortgage given my circumstances?
Challenges:
AUD-EUR Exchange rate. Even though I do well financially in AUS, it is not coverting to EUR well due to low exchnage rate. I could wait longer in the hope of the EXR improving but this is completely uncertain so I feel it's not a sensible option.
Other option is to hold off another year and gather more deposit savings, but concerned about house prices rising in the meantime (which again is uncertain), so would prefer to purchase sooner.
Any advice appreciated. If I have left any key information out, please ask.
Thank you
Eistigi