D
Don Charco
Guest
Hi, first post ever here so please take it easy on me!
Ive now been working a year, as a trainee ACA for a large bank in Dublin. I grew up in London but live here now and will be for at least the next two years.
I am fortunate to live rent-free and so have a bit of money that i would like to put into property. I am earning about €38k and my only outgoings are 5% of that into my pension fund.
Currently I do not trust the Dublin property market, and will wait until 2008 when I expect a slight decline. By then I will have a better idea about my future and will be qualified so will be able to afford somewhere i would like to live.
So I am looking at London. I have a location in mind that I think would do well, but I have some concerns about buying abroad.
1) Where will I be able to get a mortagae? Do i have do do it in Ireland or can I do it in the UK?
2) WIll I lose my 1st time buyers allowance in Ireland if I buy in London? Will they find out if I dont tell them (I may be willing to take the risk)
3) How much exposure would I experience regarding currency transactions?
4) Are there any other issus that Is houdl be aware of, or websistes that I should contatct?
5) Will the fact that this iwll be an investment property have any impact. I am prepared to love a bit of money if teh rents do not cover the mortgagae as I see it as a form of saving regardless.
Any help at all would be hugely appreciated!!! Apologies if these questions ahve been answered before.
Thanks Again!
Don Charco
Ive now been working a year, as a trainee ACA for a large bank in Dublin. I grew up in London but live here now and will be for at least the next two years.
I am fortunate to live rent-free and so have a bit of money that i would like to put into property. I am earning about €38k and my only outgoings are 5% of that into my pension fund.
Currently I do not trust the Dublin property market, and will wait until 2008 when I expect a slight decline. By then I will have a better idea about my future and will be qualified so will be able to afford somewhere i would like to live.
So I am looking at London. I have a location in mind that I think would do well, but I have some concerns about buying abroad.
1) Where will I be able to get a mortagae? Do i have do do it in Ireland or can I do it in the UK?
2) WIll I lose my 1st time buyers allowance in Ireland if I buy in London? Will they find out if I dont tell them (I may be willing to take the risk)
3) How much exposure would I experience regarding currency transactions?
4) Are there any other issus that Is houdl be aware of, or websistes that I should contatct?
5) Will the fact that this iwll be an investment property have any impact. I am prepared to love a bit of money if teh rents do not cover the mortgagae as I see it as a form of saving regardless.
Any help at all would be hugely appreciated!!! Apologies if these questions ahve been answered before.
Thanks Again!
Don Charco