Yes, foreign buyers can get mortgages in Ireland. In fact, the Irish government has made it easier for foreign buyers to get mortgages in recent years. In 2015, the government introduced a new mortgage-to-income (LTI) ratio for non-EU borrowers, which allows them to borrow up to 90% of the purchase price of a property, compared to 80% for EU borrowers.
There are a few things that foreign buyers need to do in order to get a mortgage in Ireland. First, they need to have a valid visa or work permit. Second, they need to have a permanent address in Ireland. Third, they need to have a minimum deposit of 20% of the purchase price of the property. Fourth, they need to provide proof of income and employment. Fifth, they need to have a good credit history.
If you are a foreign buyer who is interested in getting a mortgage in Ireland, you should speak to a mortgage broker who specializes in foreign buyers. They will be able to help you understand the process and find a lender that is willing to work with you.
Here are some of the requirements that foreign buyers need to meet in order to get a mortgage in Ireland:
- Valid visa or work permit: You must have a valid visa or work permit that allows you to live and work in Ireland.
- Permanent address in Ireland: You must have a permanent address in Ireland, such as a rental property or a house that you own.
- Minimum deposit of 20%: You must have a minimum deposit of 20% of the purchase price of the property.
- Proof of income and employment: You must provide proof of income and employment to the lender. This can include payslips, tax returns, and employment contracts.
- Good credit history: You must have a good credit history in your home country. This can be checked by the lender.
If you meet all of these requirements, you should be able to get a mortgage in Ireland. However, it is important to note that the lending criteria may vary from lender to lender. It is therefore important to speak to a mortgage broker who can help you find a lender that is willing to work with you.
Here are some of the benefits of getting a mortgage in Ireland:
- Low interest rates: Interest rates in Ireland are currently at a record low, which means that you can get a mortgage at a very competitive rate.
- Strong economy: The Irish economy is growing strongly, which means that your property is likely to appreciate in value over time.
- Beautiful country: Ireland is a beautiful country with a rich culture and history.Owning a property in Ireland can give you the opportunity to live in a beautiful and vibrant country.
- Friendly people: The Irish are known for being friendly and welcoming people. Owning a property in Ireland can give you the opportunity to meet new people and make new friends.
If you are considering buying a property in Ireland, it is important to speak to a mortgage broker who can help you understand the process and find a lender that is willing to work with you.
