Mortage Abroad - Impact Mortgage Ireland

L

lilliput2000

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Enquiring for advice for a friend.

He owns a house in another EU country and is paying a mortgage there of approximately 550 euro per month (15+ years remaining).:).

He is now looking to get a mortgage in Ireland. Good income, has the deposit, meets standard mortgage requirements, etc.

The question is:
1) Will this mortgage abroad prevent him getting a mortgage in this country
2) If not, will a bank here view this monthly outgoing the same as another outgoing (e.g. a similar sized car loan) when calculating what they are willing to approve

Thanks
 
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Has he rental income from the property abroad? Is it covering the mortgage payments?

If he has no rental income, then I imagine that they would reduce the amount they would lend him by the size of the mortgage he already has.

If he wants to buy a home in Ireland, he should consider selling the overseas property and focusing his attention on Ireland.
 
I'm in a slightly different situation and would appreciate guidance. We have our owner occupied property overseas and wish to purchase a property in Ireland again for owner occupation. I am not paid in Euro. I understand EU regs/guidance places hurdles in the way of securing a mortgage from an Irish bank. Are there options available from mortgage providers that operate internationally?

Thank you for your advice.
H.
 
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