...furiously seeks back door solution...
Thanks Chantilly.
do you know the rationale behind the rule? Do you know where the rule is recorded? I'm not challenging you just trying to understand where this originates from & why. Cheers.
No not believe all you hear! All the EU directive is intended to reduce the FX risk for borrowers, it requires that in certain situations where the borrower is paid in a currency other than the currency of the loan, the bank must basically carry the risk when the FX rate varies by greater than 20%. And many banks have simple decided not to offer products to such borrowers.
I would suggest that you at least try and see, perhaps one of the lenders will be willing to take a chance on you, you could also check if they might consider an commercial loan or failing all that check with your current bank would consider doing a back to back loan with an Irish bank. I've done this it the past.
As a mitigating factor we are quite liquid & could buy our target property outright but would rather put the cash to work.
advice or experiences are much appreciated.
H.
In a rare case, the banks aren't entirely to blame for this one.When the bubble bust everything got more difficult
I'm not going to give up on securing with BoI but I'm at a bit of a loss as to how to get someone on the phone that is aufait with mortgage lending to a non resident earning non euro currency. I reckon it's a curve ball case for normal mortgage desk staff.
It looks like they pulled the product last year.I just got off the phone with BoI Mortgage desk & the nice lady stated that they don't offer mortgages to non residents
My experience with BOIM staff over the phone is that they are wrong at least half of the time.
Hmm, so I'm down to AIB by the looks of it. Thanks RedOnion.It looks like they pulled the product last year.
Bank of Ireland pulls plug on non-resident mortgage market
Bank will stop offering mortgages to Irish living overseas who want to buy back homewww.irishtimes.com
correct, the reason cited on the call was because I'm non resident.Very apparently.... its not cause you earn in non Euro either.
@Horatio
Just re-read your opening post from 2 years ago. Just to confirm, this is a house for your own private use rather than a BTL?
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