US citizen buying an Irish home

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BurritoQueen

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Hi I am an American. I qualify to buy my chosen home in all aspects accept that I don't have a Stamp4 Visa in my passport. Does ANYone know of a lender who does not require this Visa?

Perhaps I have to to go the way of an investment purchase? I have 40% of the cost of the price of the house in cash and only wish to finance 60% of the sale price.

Thanks for ANY help on this!
 
Re: Stamp 4 Visa a finding mortgage lender

I'm afraid all lenders require Stamp 4 to be able to take your income into account as this is the only Stamp that allows you to work freely in Ireland.

Sorry.

Sarah

www.rea.ie
 
Re: Stamp 4 Visa a finding mortgage lender

But surely this is not the case with a buy to let investment mortgage....
 
Re: Stamp 4 Visa a finding mortgage lender

Talking about myself , I used to hold stamp1 ( now stamp4) I was rejected for the same reason by a known brokers , but went to my bank who holds all my financial history since I came to Ireland .
The bank accepted my application straigh away , even they didn't ask me for employer salary certificate or any bill .
 
Re: Stamp 4 Visa: finding mortgage lender

Hmmmm that WOULD have worked for me but I had a falling out with my bank (AIB) of 3 years, even though I was a 'model' customer, their customer service was horrible and I found errors in my statments. So after a few months of gentle feedback, I finally closed my account with a bit of fanfair..... I've been with my new bank only 4 months......so back to the drawing board I guess?

Any other ideas out there? I'm getting a bit anxious as I have found the house of my dreams and I thought that in regards to
repayment & credit worthiness I was a 'shoe-in' for a mortgage!

Frustrating................
 
Re: Stamp 4 Visa a finding mortgage lender

I remember I have seen an old thread on AAM for someone with stamp 1 who managed to get mortgage , I PMed him months ago and I got this reply :

"Try ICS ([broken link removed]) / Permanant TSB .

Better go through a broker like Gunne Mortgages who are known to deal fast for Non_nationals & Stamp 1 in my experience."

Otherwise , you may find someone Irish or with Stamp 4 who can take you with him on the mortgage - not the best solution but one of the few options .

Good luck
 
Re: Stamp 4 Visa a finding mortgage lender

Actually Start Mortgages will mortgage you providing you are employed and at least a stamp 1. Ge money will mortgage no matter what stamp you are providing you have at least 12 months full time employment. They will charge you more on interest however you will get the mortgage.


Go to a good broker and they moght be able to get you a good deal with the prime lenders!-Remember i did say a good broker!!

Regards
 
Thanks will do as suggested....shall I approach these lenders directly or use a 'GOOD' broker.....have U any names of such brokers? Gunns yes?
 
Where in the country are you based? What way are you in this country IE working visa etc etc? Is it a joint mortgage? How long are you employed?
 
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Hi I am based in Ireland, USA passport, Irish work permit, German Drivers licence, 2yr 7mo at same job, 3 years in same home, base salary €53k plus bonus €12k, single, DOB 1953 (makes a BIG difference this DOB bz with Irish banks!), good credit, Stamp1 Visa in my passport
 
Ok if i where you i would go to a good broker who knows their products well. I really think that there is a strong possability of getting this with the prime lenders.

What area of Ireland are you in. I am sure someone here will know some one close to you to help.


Regards
 
I'm in Lucan...I went to FirstCredit this week, the broker said he had only two companies that would consider me: EBS and ICS. I asked him to simultaneously process a 'Buy to Let' investor mortgage application as my LTV is within most investment mortgage pre-requisites (the value of house in €450k, sale price €350k my mortgage requirement €260k I have the remaining differance in capital requirements). He said if I was rejected by these 2 institutions this would be the end of my opportunities to get any kind of Irish mortgage as I would not be looked at as a foreign invester as I have a Stamp 1 Visa in my passport. I am getting pretty frustrated.
 
Well you can tell 'First Credit' they are wrong and to go an learn more mortgage products! As i said before Start Mortgages and GE Money will have no problem doing your mortgage with your stamp one. However you will pay extra interest.

Does anyone know of a very good broker in the Lucan area so we can get this fella sorted?

Just looking at your income and date of birth it could be tight on that. No problem getting a mortgage just problem getting amount you want!
 
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