Over a half-a-million foreign nationals from over 200 countries now live in Ireland. A foreign national’s guide to Irish Mortgages and home loans does indeed seem appropriate.
If you are a foreign national but legally a resident of Ireland you are free to buy a property in the Republic.
You can also apply for a mortgage [or other loans just like any Irish citizen].
The market place is a very well developed one and you will find lots of choice.
However, in recent times it’s been tough to get approval for an Irish mortgage, even as a local buyer.
Banks have been very careful about giving out funding since the economic crash of 2008 and you can expect to be asked for a broad range of documents to prove that any loan will be affordable for you.
That said, there is a lot of choice.
There are different mortgages for buyers in specific situations. For example, first time buyers, those purchasing a second home or a buy-to-let, will find mortgages specially designed for them.
All of the main Irish banks will offer different products. You’ll have a choice of fixed rate, variable rate, etc.
But with choice can come a certain amount of confusion. To discover what is right for you – you should seek the advice of a mortgage specialist. In the meantime have a read through the articles below, for detailed information.
We have also included a link to AIB [we could have chosen any of the main players in the mortgage arena].
We have included it to show that lenders are well prepared to not only cater for foreign nationals living here who wish to buy a home, but overseas expats who want to buy a property in Ireland.