mortgage for the north

K

krabik

Registered User
Messages
62
Folks

I was wondering, is it possoble to get approved for a mortgage in Dublin to buy a house at home in the north, really i was wondering as i could avail of the cheap intereste rates in the Dublin as opposed to the quite harsh ones in the north

I live in Dublin btw

thanks
 
It may be possible but have you considered the foreign currency risks (and costs) of such a strategy?

You are buying a property in one currrency (Stg) by taking a loan out in another (Eur). You run the risk that if the Euro were to appreciate against Sterling that your loan could increase relative to the value of your house. If you rent it out the rent will be received in sterling while your mortgage repayments will be in Euros. If you are relying on the rent to pay your mortgage then if the Euro had appreciated your rent converted will be less than you had been expecting.

On top of this you will pay a margin to the bank on converting the loan proceeds to sterling to buy the house and if renting the rent payments to euro to pay your mortgage.

Finally while sterling interest rates are higher right now that might not always hold true, Euro rates look set to increase whereas Sterling rates have paused after a number of increases (in fact I think the last Sterling rate movement might have been a small cut?) and if anything might just decrease a little further.
 
dam099


thanks for the advice mate i will take it all on board, thanks again


kk
 
If you go to bank in Dublin, they will put you in touch with Branch n North.

They copped onto that one.
 
if you purchase a property in Stg, it must be a Stg mortgage also, IIB in Dublin will do a mortgage to purchase, however the rate of interest will
be Uk rates... Approx 5.95% at the moment.
 
You must log in or register to reply here.
Back
Top