Mortgage for foreign property

Discussion in 'Mortgages and buying and selling homes' started by spanners, Jan 7, 2017.

  1. spanners

    spanners Registered User

    I know this is a bit of a long shot but thought I would ask in case anyone has any info.

    My other half is Spanish and we spend 3-4 months a year there, hence would love to buy a house in area she's from, and have seen a house that ticks all boxes.

    We have a house owned outright in Ireland, worth comfortably 3 times, maybe 4 times the value of the Spanish property.

    Ultimately we'd like to sell Irish house, downsize here and put balance to Spanish property, but for various good reasons we'd prefer to wait 5 years before we do this.

    Problem is my salary would not qualify for necessary mortgage on Spanish property now. Anybody know of any shorter term bridging finance for this sort of scenario?

    I.e short term IO secured on Irish house paid off within 6 years from sales proceeds of that house?