BTL Mortgage for UK Resident

[fitzy73]

Due to the uncertainty around Brexit, my wife and I are interested in Dublin property as (i) a hedge against Brexit and (ii) a long term investment.

Our intention would be to get a place in Dublin that we could rent out in the short term, and move at some stage in the future if the UK goes fully hrd BRexit and the place crashes and burns.

We have about a 25% deposit for an average family house in the Dublin suburbs. We are both employed, with a significant household income. I'm Irish, so have a PPI number etc but I've not been employed in Ireland for 15 years plus.

I'd be greatful for any advise on the following:

(i) Are there banks that will lend to overseas couples and if so ..
(ii) Does anyone have a recommendation of a mortgage broker who is they have used and is familiar with people who are applying from UK / overseas.
(iii) As a non dom, would we be able to avail of the mortgage interest relief?

 

[T McGibney]

You haven't asked but there's probably more chance in the foreseeable future of Ireland crashing and burning, as it did spectacularly in 2008, than the UK doing the same. And if the UK keels over for whatever reason, Ireland is odds-on to do likewise because of our historic dependence on the larger island to our east.

In the shorter term, the Irish residential property investment scene is in a state of dysfunction and crisis at the minute, not least because of crazy government mismanagement that is likely to get worse before it gets better. Irish residents with available capital are avoiding it like the plague. Caveat emptor.

 

[fitzy73]

Agreed there is material risk to Ireland if a hard Brexit happens, but it could have many upsides. FinTech, for example, is an area Ireland can exploit.

I'm bullish on the Irish market to be honest. Prices rising is a sign of confidence.