Can I get a mortgage in Oz for an Irish house?

Discussion in 'Mortgages and buying and selling homes' started by trajan, 5 Mar 2019.

  1. trajan

    trajan Frequent Poster

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    I've a number of questions on mortgages:

    Q1. If I own a house in Ireland and 'retire' to Australia, can I go to an Aus bank and remortgage the Irish place to buy a modest place over there ?

    Q2. Were the effort described in Q1 successful, can I assume this remortgage would be noted in the Registry of Mortgages in both countries ?

    Q3. Can any nosy Irishman who is aware of my manoeuvre get a copy of the remortgage details from the Aus Registry of Mortgages for a small fee ?
     
  2. RedOnion

    RedOnion Frequent Poster

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    2,588
    Oz bank would treat as an unsecured loan. There is no way they could enforce security on an Irish property.
     
  3. Monbretia

    Monbretia Frequent Poster

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    1,533
    Highly unlikely you would get a mortgage as such because as RedOnion says they couldn't take the Irish property as security and in the unlikely event that there was some legal way to do it it's not much security considering it's so hard to repossess a house here even when the bank is in the country not to mind from the other side of the world!
     
  4. RedOnion

    RedOnion Frequent Poster

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    2,588
    @trajan
    Its nothing really to do with central banks. Individual banks make commercial decisions.
    The fact is it's much easier to enforce security worth hundred of millions than a private dwelling, and it's common with international business people to have security and loans in multiple jurisdictions. Plus, with commercial lending, the borrower pat's all the legal fees.