Moving home from Australia and buying a house here

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firsttimebuy

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I was wondering if anybody out there could help on this. I have a friend (Irish) and her husband (Australian) are hoping to return to Ireland in the next 6 months from Australia. They have bought a house out there which they are going to rent out. They are wondering what the best option is for buying a house here. Could they get a mortgage in Australia and buy a house here as they have permanent jobs there at the moment or would it be best if they looked for a mortgage here? and if so could they apply now on the basis of their jobs in Australia or wait until they get jobs here? Any advice would be helpful. Thanks.
 
Quick google and it looks like the base Autralian interest rate is significantly higher than that in Ireland. So, presumably they would be better hanging on, get a job in Ireland, and apply then (don't worry about house price movement in the meantime).
 
firsttimebuy said:
Could they get a mortgage in Australia and buy a house here as they have permanent jobs there at the moment or would it be best if they looked for a mortgage here?
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You'd have to be insane. Mortgage interest rates are around 8% in Australia and 5% in Ireland.

That would require 12 ECB interest rate rases before an Irish mortgage became as expensive as an Australian one. And Australian rates are still on the way up.

Why are they in such a rush to buy a house in Ireland anyway? They should just come back to Ireland and rent for a year while they look around to buy something.

There are about 300,000 empty houses in Ireland, so I'm sure they'll be able to find something to rent.
 
Gally do you know if they can apply for an Irish mortgage with an Irish bank on the basis of their jobs in Australia now?
 
better off getting them in touch with a broker. Im sure they be chomping to chat to prospective customers given the current climate
 
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