Irish Banks no longer lending to Irish living outside EU

F

frankde

Registered User
Messages
77
Hi
I have just heard from my broker that Irish banks as of a couple of months ago are no longer lending to people living outside of the EU

Has anyone else experienced this?

Seems there is a new EU rule that banks must provide mortgage statments in the currency of the country you are living in, and seems Irish banks there are unwilling to provide statments in non euro currency
 
I'm surprised that there has been any significant lending in recent times by banks to non Irish residents. This was always high risk and from my own experience would only have been considered on a very exceptional and sporadic basis.
I know nothing about the new EU rule but would be very surprised that there has been any significant activity in non-resident lending in recent years either inside or outside the EU!
 
44brendan said:
I'm surprised that there has been any significant lending in recent times by banks to non Irish residents. This was always high risk and from my own experience would only have been considered on a very exceptional and sporadic basis.
I know nothing about the new EU rule but would be very surprised that there has been any significant activity in non-resident lending in recent years either inside or outside the EU!
Click to expand...

Yes indeed high risk, which is why they banks that did do it before requested low LTV and that the rent more than cover the mortgage payments
But I guess your right as its not a significant part of their business, they are unwilling to take on new customers considering this new EU rule
 
You must log in or register to reply here.
Back
Top