Buy new home abroad

[johnmck]

Thinking about leaving Ireland and buying in my wife's home country. I've secured a remote job and can work from anywhere. My wife is also trying to secure a remote job.
We have significant savings and I own a commercial property that has a decent monthly rental income.
We need an extra 80 to 100k to purchase a new home in my wife's home country.
Where or how could we raise this money ?

 

[Sue Ellen]

Hi John,

Details of the home country whereabouts would most likely be relevant before any advice is given.

 

[johnmck]

Hi John,

Details of the home country whereabouts would most likely be relevant before any advice is given.

Poland

 

[Gordon Gekko]

Probably a mortgage in Poland. I’d talk to the banks there.

 

[johnmck]

Could I not borrow against my commercial property here in Ireland ? Sorry it's been a while since I've been on here

 

[Gordon Gekko]

Could I not borrow against my commercial property here in Ireland ? Sorry it's been a while since I've been on here

Yes, potentially.

 

[Dr Strangelove]

Could I not borrow against my commercial property here in Ireland ?

Polish zloty mortgage rates are about 6% right now. Would you be able to borrow at a materially lower rate against commercial property in Ireland?

Even if you could the exchange rate could move against you.

 

[johnmck]

Polish zloty mortgage rates are about 6% right now. Would you be able to borrow at a materially lower rate against commercial property in Ireland?

Even if you could the exchange rate could move against you.

The problem is trying to get one as we are not established in Poland yet. I'll be working remotely , for a UK company , and doubt they'll consider my income

 

[Dr Strangelove]

I doubt they’ll ignore it fully either.

 

[Brendan Burgess]

Sell the commercial property if you can't get a mortgage in Poland.

Or maybe sell it anyway.