Irish mortgage for UK property?

Can someone please confirm if it's possible for a FTB to get a mortgage with an Irish bank on UK property? Alternatively, do AIB have a UK branch (First Trust?) or is it solely Commercial Banking in UK?

Thanks in advance.

Lorz said:

Can someone please confirm if it's possible for a FTB to get a mortgage with an Irish bank on UK property? Alternatively, do AIB have a UK branch (First Trust?) or is it solely Commercial Banking in UK?

Thanks in advance.

Click to expand...

AIB in England are AIB (Great Britain)
In Northern Ireland they are First Trust.

Yes - it is possible to get a mortgage from an Irish bank to buy a UK property. However if you are working/living in the UK it is more straightforward to approach a UK bank.

Otherwise completion of the security (legal charge over the property being purchased) takes longer as it will be usually outsourced to the Irish bank's UK correspondent/equivalent.

I know the regulations have changed in the uk. Irish banks used to do alot of lending for uk properties (our rates are much lower so it's cheaper to borrow here) But the UK equivilant of our financial regulator brought in new rules that you must be regulated to sell a mortgage in the UK. This means that Irish mortgage advisors could no longer advise on UK mortgages. Irish Banks for the most part have UK counterparts (with the exception of PTSB) so your own bank could probably arrange for a qualified.regulated Mortgage adviser to look after the paper work for you...that does still mean it'l be on UK rates....

I''m about 99% sure about this but check it out anyway, stranger things have happened than me being wrong.