Living Abroad & Buying in Ireland

[marbar]

I've lived abroad for the last 3 years and I'd like to get a place back home (without moving home) as the first steps to coming back

Every Irish lender seems to insist that I be resident to get a buy to let mortgage.
I'm reluctant to get a mortgage in a non Euro currency (which I currently earn in) due to fluctuation over the next 25 years.

How can I get a Euro mortgage that will allow me to buy and rent back home?

 

[frankde]

Hi
I have the same problem
Seems earlier this year there was an EU rule which now makes it difficult for irish banks to lend to people living outside of the EU
If you find someone please let me know

 

[trasneoir]

I've lived abroad for the last 3 years and I'd like to get a place back home (without moving home) as the first steps to coming back

Anecdotally, finding value in residential property here seems to take a lot of legwork. If the goal is to get some early exposure to the ups and downs of the irish residential residential property market (aka "a foot on the property ladder") before you come back, then a REIT might be more flexible and less leveraged option?

You'd need to figure out the tax implications, which will depend on where you are resident. Potentially it could be more tax efficient than directly owning a single property. It would also take the responsibilities of absentee landlording, and the expense of agent's fees, out of your hands.

When you're ready to buy, (after you've moved back and spent a few months finding the right place) you can cash out your shares and use them for a big deposit.

 

[marbar]

thanks for the feedback. yeah i had been thinking about the hassle invovled, and i don't live close to home at the moment.

is REIT something that you have experience in? i'm resident abroad, so it should be more favorable tax wise

buying into a REIT, is it the shares in the company that you buy (which seem to fluctuate quite a bit) or you are part owner of a group of properties?