The mortgage market for returning expats

The government has pushed hard in recent years to bring professional workers back into Ireland, welcoming plenty of new construction and dozens of foreign tech companies into the docklands. With many talented workers finding jobs elsewhere in the EU and in countries such as USA and Australia in the aftermath of the financial crisis, it is essential to Ireland’s future as a highly advanced and modern nation that its own professional workforce be well employed at home. Well government initiatives have already seen great success, many returning expats are faced with various complications when attempting to bring their families back home. Amongst these complications is the difficult process these Irish citizens have to go through to get mortgages.

 

Expats currently working and paying tax in another country are considered non-residents. Thus in the books of most major lenders, they are segregated from all other Irish citizens and placed into similar categories as foreign nationals. Thus, returning expats face stricter limits on income and on Loan to Value ratios when apply for …

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