Getting a mortage in ireland while living in the uk

[Horsesinaround]

To keep it simple.
I live in England and i am considering buying a house off my mum. It was my grandparents and when they passed away it was given to her, however she is struggling financially and planning to sell the house.
What kind of hoops and loops do I have to jump through considering I still live in the UK?

I also already have a mortage here in London.

 

[DublinHead54]

I don't believe any of the mainstream banks will offer this any longer. Last I heard the only option was Haven (AIB subsidiary) but with a hefty deposit (LTV <70%). Then it would be the usual hoops to jump through to get a mortage, proving affordability etc.

 

[ReesesPieces]

My guess is you would find it easier to find a UK bank that will lend on foreign holiday homes/buy-to-lets than an Irish bank who will lend on a second home to a non-resident. We got a mortgage in Ireland shortly after moving back and with one salary still in the UK (commuting back and forth to work) but that salary was being paid into an Irish bank account, and there was another Irish salary as well. I'm not sure they would have done it if we were still living abroad. It was also our only home and mortgage. They did review our UK bank accounts as part of it, but we were definitely both legally Irish resident at time of draw down.

If its a second home, under Irish rules, you'll need at least 20% deposit and your existing mortgage will be taken into account for affordability measures. You'll also find an Irish bank will probably factor in potential salary fluctuations- I think they were reducing what they'd offer by 10% lower than a sterling salary at the time, but given how much currency has fluctuated since Brexit you may find its more than that now. Basically, I think your lending options among UK high street banks will be much stronger. If you're planning on moving back to Ireland or specifically want an Irish bank I'd contact a broker to see what options there are.