Mortgage for a house abroad

M

Meabh

Guest
Hi Do Irish Financial houses ever give a mortgage for a house abroad. I have 2 properties in Ireland (which won't sell at the moment) and I'm planning on living in Australia in 2010 (Have visa). I'd like to buy over there and I'm wondering if the banks here will lend me money for a property in Australia. Thanks for advice.
 
I'm not aware of any Irish bank that will lend to you using an Australian property as security. But you might be able to use one or both of the Irish houses as security for a loan to buy an Australian property. A lot will depend on your income, outgoings, the values of the Irish properties and the existing mortgages (if any) on them.
 
even if they did lend you the money, it would presumably be in euros

you could expose yourself to a nasty currency risk if the Euro appreciated strongly against the AUD
 
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