Can one borrow on their equity here while living abroad?

M

murphaph

Guest
Simple question really, can you use the equity in your house here to top your mortgage up to buy another house in England, while living there?

I would be living in the English house. I assume at a minimum I'd have to show rental income on the property here for 6 months and have 6 months in a permanent job in England etc..

Anybody who has done this, I'd appreciate knowing if it's possible.
 
Short answer - yes!
Some lenders will even give you the funds to buy in the UK, in an irish mortgage.
If you need specifics - pm me
M
 
If you need specifics - pm me

Or better still, discuss it here in the open so that others might benefit from the information.
 
Fair enough!
IIB do a good scheme for house purchase in the uk - only ltv of 80%, plus a bit of a fee, but nonetheless its a good product. Loan can be in sterling also if required
 
Hmmm, Looks like I'll have to switch mortgage provider then. According to my current provider's (Ulster Bank) T&C's they will only advance credit to residents of the Republic of Ireland. It's a bit of a pain that, seeing as I've just moved to them for free, the proviso being that I stay with them for 5 years or cough up €899 to pay for the switch. I wonder when the time comes would UB be flexible on this? (Has anybody topped up their mortgage with UB in the south to buy in the north, for example? (I'll be lucky, I know!).

Thanks for your feedback guys.
 
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