ExPat mortgages

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Pinkpanter

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We are living in Switzerland and would like to purchase a family home in the next 2-3 years. Is there any chance of getting an expat mortgage?
We would have large deposit and would be selling one of our properties to fund it?
Plan would would be to rent it till we return home in say 5 years!
 
Not with a mainstream lender. One of the private banks might look at it if you're a potentially large client in other areas.
 
You used to be able to buy a property as an investment property. But the Mortgage Credit Directive has changed the ability for expats paid in a currency other than euros to get a mortgage. While still allowed under the directive, it has increased the reporting that the banks have to do. The expat market is simply too small for them to spend millions on updating their systems to meet the directive so they have just stopped offering them.


Steven
www.bluewaterfp.ie
 
I have a tracker mortgage with Aib. Would a trade up negative equity mortgage work? Was hoping to keep apartment!
 
Pinkpanter said:
I have a tracker mortgage with Aib. Would a trade up negative equity mortgage work? Was hoping to keep apartment!
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I think that will help you, I seem to remember at some stage there was an issue for me about being an ex pat, but the fact I already had a loan with the bank helped. I made the point of building a relationship with someone in my branch and physically calling in. Dealing with the people in Dublin on the phone is a waste of time.
 
Bronte said:
I think that will help you, I seem to remember at some stage there was an issue for me about being an ex pat, but the fact I already had a loan with the bank helped. I made the point of building a relationship with someone in my branch and physically calling in. Dealing with the people in Dublin on the phone is a waste of time.
Click to expand...

I'm presuming this was before 21 March when the MCD came into force? It's all about currency fluctuations now.


Steven
www.bluewaterfp.ie
 
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