My brother is living and working in Australia and has been there for the past 2 and a half years. The situation at home is that my parents are separated and the family home has to be sold. My brother in Australia would like to buy my father's share so my mother can continue to live there but doesn't think he will be able to get a mortgage here as he is not currently resident here. He would need a mortgage of approx. €100,000 and would easily be able to meet the repayments. Does anyone know if there's any lending company that would approve him for a loan?
Can he get a mortgage in Ireland if he's resident in Australia
- Thread starter eiregal
- Start date
If the loan is less than 80% of the property value and he fits on income/credit criteria there's no reason why not. We done mortgages for people resident in the USA, Russia and Papua New Guinea (they have a lousy postal system 
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Sarah
www.rea.ie
)Sarah
www.rea.ie
Thanks for that Sarah, it's a sticky situation that we are in. We are weighing up our options at the moment so it's good to know that that is an option. Do you know roughly what he would be paying back on €100,000 over, say, 20 years? Also, will that affect him when he decides to move home and buy a place of his own?
€100,000 over 20 years would come in at €562 at a rate of 3.15% or €552/2.95% if the loan is under 60% of the value. The repayments would be an issue as and when he looks to buy himself unless there is sufficient rent (or potential rent) to cover the repayments.
Sarah
www.rea.ie
Sarah
www.rea.ie