Where can I get a mortgage for overseas property?

[paperclip]

hi, what's the deal with a mortgage for an overseas property?

do i just ask for a mortgage from my bank here? or do i need to get a mortgage from the country in question?

 

[paperclip]

how are you supposed to invest in overseas property?

how are you supposed to get a mortgage for an overseas property?

... just talked to BOI, they said they wont give out mortgages for overseas property... and PTSB aren't giving out new mortgages at all... I bank with both of these...

 

[mathepac]

Re: how are you supposed to invest in overseas property?

Try raising a mortgage on the overseas property with an overseas bank?

 

[MaryBe]

Re: how are you supposed to invest in overseas property?

Or.....if you are lucky enough to have enough equity in your propert/ies here - get a loan here.

 

[WillMcC]

Hi OP

PIBA have been sending out emails recently re overseas lending. I would imagine they have a broker deal with BNP Paribas or a similar bank. Call them and ask for your nearest PIBA broker. the broker can then tell you which markets and banks PIBA have on the books as I don't think you can deal directly with PIBA itself(Insurance broker body). can't post link to their site but it is quite obvious and easy to find

 

[Macstuff]

When it comes to raising money for an overseas properties you have two options:
1) Release equity in an Irish property - i.e. use an Irish bank to get a remortgage.
2) Raise the money with a bank in the country where the property is located.

I have two properties overseas - both in Spain. The first was funded thru an equity release on a property here in Ireland. The second was funded with a mortage raised in Spain thru a local Spanish bank.
FYI the Spanish bank asked for very similiar documents to the banks here in Ireland - ie proof of income, proof of tax compliance, bank statements etc etc.

Hope this helps.

 

[NorfBank]

PIBA offer foreign mortgages in France, Spain and Turkey.