Buying an Irish Home when resident in UK

D

DHS

Guest
Hi there.

My girlfriend and I live in London. She is a native irish from Dundalk; I hold and Irish Passport and come from Northern Ireland. We've lived in London for 2-3 years where we bought our first home. Before that we both lived in Dublin for four years (but didn't own property). We want to now sell up and buy a flat/house in Dublin.

First - do we qualify as first time buyers in Ireland?

Second, do wehave to be resident in Ireland for three months again before we can get a mortgage or can we shortcut this somehow, as dont want to rent for that long!
 
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any idea whether I have to wait three month before getting a mortgage?
 
Where does this three month period come from? I've never heard of it. Lenders will have their own criteria for assessing loan applications but I would imagine that most or all prefer to lend to those with some track record of living/working here.
 
You will need to be in permanent employement before any lender will consider an application. Even if you are made permanent immediately, chances are you will need to be living and working in Ireland for a minimum of 3 months before you will be granted approval - look at it from a lenders point of view.

If you really feel you can't wait that long you could apply for a mortgage in Ireland based on your current income. If you go down this route you will be limited to a maximum loan of 80% - 85%. You will need to check with a solicitor also as there may be legal implications as you would be classed as investors.
 
Is your question as to whether or not there is perhaps some rule about being resident in Ireland for 3 months before getting a mortgage? The answer to that is no.

Contact a bank or building society in Ireland about getting a mortgage. Are you both coming back to permanent jobs in Ireland and selling a property in the UK giving you equity for a purchase here?

If so, they will take current earnings and equity into account and seek assurances from new employer. Can't see a problem.

But again - no 3 month rule. Who told you that?

You won't be first time buyers if you've already bought. But check out stamp duty rates for various property price scales. Also, unlike UK you won't have rates and council taxes.
 
Indeed, and various institutions may have different criteria.

There is no legislation making it a legal condition of property purchase here that a citizen must be resident for three months. Generally if a bank has such rules it will be applicable to non Irish citizens.

In particular EEA and non-eea nationals. A bank may even get picky about EU nationals.

But, as in this case, Irish citizens have an automatic right to residency at all times. There are no restrictions on purchasing property.

That's not to deny one bank or one building society may have seperate qualification critieria for certain mortgage products.
 
Nobody mentions legislation-'rules' could easily refer to lending rules/criteria-which is what I took it to mean.
 

It is certainly worth checking out with a solicitor but even if the bank classify you as an investor that does not necessarily mean you will be one for tax purposes if you don't rent it out (and perhaps move in within a reasonable time period).
 
dam099 said:
It is certainly worth checking out with a solicitor but even if the bank classify you as an investor that does not necessarily mean you will be one for tax purposes if you don't rent it out (and perhaps move in within a reasonable time period).
Click to expand...
It's usually pretty clear cut whether or not you are an owner occupier and that's what matters when it comes to the tax issues.
 
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