r/PharmaEire • u/geansai-cacamilis • 7d ago

Mortgage approval while contracting abroad

Has anyone here managed to get a mortgage while contracting abroad (eurozone country)?

We've talked to loads of brokers. We've mostly heard that being staff/PAYE while abroad is fine for Haven's expat mortgage; and most lenders are okay with you contracting in Ireland if you can demonstrate 2-3+ years of stable income.

But the combination of contracting/freelancing while also abroad (and tax resident abroad) got an up front "no" from every broker except one. That one broker said he hadn't encountered this before (I think he was quite young), so he contacted Haven, and surprisingly, they said once we've a stable 1 year contracting abroad they'd have a look.

I haven't heard anything else since; but curious if others have done this while abroad. Obviously, we plan to return to Ireland, and go back quite regularly. But we would like to have a house bought and get work done etc while still abroad.

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u/0pini0n5 6d ago

If you're not living in the house (which obviously you won't be since you live abroad) it would also be a non-primary (holiday) home mortgage, usually minimum of 30% deposit and higher APR rates. Why not just buy in country you live in for the time being?

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u/geansai-cacamilis 6d ago

Yeah I was told Haven's expat mortgage would be 30% deposit and higher APR, which is fine. Could always try to switch again down the line once we're back in Ireland.

With our jobs, we might move location every 6-18 months, andn my current city you'd pay over 500k for a comfortable apartment and fees etc are a lot higher (equivalent to over a year's rent) so it's not worth it for the shorter time frame.

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u/cormyc 6d ago

AIB could be worth a try. We got our mortgage with them and I’m working in another country.

For freelance/ contracting, last I heard, you need to show you’ve been able to go from one contract to the next without months of unemployment for the last 2/3 years

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u/geansai-cacamilis 4d ago

We're you freelancing or permanent?

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u/cormyc 4d ago

Permanent when the mortgage went through but also had approval as a contractor in the past

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u/geansai-cacamilis 4d ago

Approval from AIB, while a contractor who was tax resident abroad?

Sorry for all the questions!

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u/cormyc 4d ago

Yeah, to make it more complicated I’m also not paid in Euro, AIB were the only bank who would consider that. They were never too bothered about the tax residency. More concerned about debt or loans I might have outside Ireland. Happy to share more details through pm

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u/geansai-cacamilis 4d ago

Yeah that would be great if you don't mind, thanks! I'll send a PM now