Mortgage for a foreign property

drsania

Registered User
Messages
13
Hi

Is it possible to get a loan / mortgage to buy a property outside EU from any of the Irish Banks? I dont have any property in my name in Ireland but am thinking of buying a holiday home in Mauritius.

Any suggestions/advice please..

Regards
Dr Sania.
 
Re: Mortagage for a foreign property

try connectoverseas (UK based firm). They seem to do a lot of foreign mortgages and were good for my Polish purchase.

Whatever you do, I would recommend you do not put any deposit down without getting the mortgage approved first. Likewise I would avoid offplan without having the cash available in reserve should you fail to get the mortgage.

I would only agree to a purchase on the basis that you can get any deposit back should you be able to get a mortgage. A lot of people have been so badly burnt by not having the funds to complete on.

Foreign mortgages are becoming very hard to get and if approved I would anticipate you would need a large deposit (25%+).

Good luck!