Joey Murray (QFA)

If you are living outside Ireland or earning in a non‑euro currency, you are not alone in asking the question, is it even possible to get a mortgage when abroad? More and more Irish people working overseas are reaching out to see whether they can secure a home back in Ireland before they move home and the good news is that, in many cases, it is possible.

Can expats really get a mortgage from abroad?

For many returning emigrants, there is a common myth: “I have to move home and be back for 6–12 months before I can even think about a mortgage.” While that might be true for some lenders and some situations, it is not a universal rule.

In practice:

Most lenders do not currently offer standard residential mortgages to non‑residents earning in foreign currencies.
However, there are a small number of options available specifically for expats and non‑euro earners, provided you meet certain criteria.

If you are working abroad and planning a move home in the next few years, it is worth understanding those rules early so you can plan your savings, timelines and expectations.

How lenders look at non‑euro income

One of the biggest differences for expat applicants is how your foreign currency income is assessed. Because exchange rates can move up and down, lenders do not simply convert your salary at today’s rate and use that full figure.

Instead, they will:

Convert your income to euro.
Apply a “stress” to the exchange rate, often assuming that your currency could weaken by a set percentage (for example, 20–25%).
Use this reduced euro figure as your assessable income for the application.

This is designed to protect both you and the lender from currency swings. It does mean, however, that your borrowing capacity as an expat may be lower than if you earned the same amount directly in euro.

On top of this, the Central Bank of Ireland’s loan‑to‑income limits still apply:

As a First Time Buyer, you can generally borrow up to 4 times your gross income.
As a Second or subsequent buyer, the limit is 3.5 times your income.

These limits are applied to the stressed euro income, not the headline foreign salary, so understanding the numbers in advance is essential.

Deposit and loan‑to‑value: why 30% is the norm

Another key difference for expats is the deposit requirement.

While Irish‑resident first‑time buyers can usually buy with a 10% deposit, non‑resident buyers and expats are typically restricted to a maximum loan‑to‑value (LTV) of around 70%. In plain terms:

Maximum mortgage: 70% of the property value
Minimum deposit: 30% of the purchase price.

So if you are looking at a home worth €400,000, you may need:

€280,000 mortgage (70%)
€120,000 deposit (30%).

This higher deposit requirement reflects the additional risk that lenders see when a borrower is based abroad and/or earning in a different currency. It is a big commitment – but it is also something you can actively plan towards once you know the target.

What types of property and mortgage are allowed?

With expat lending, there are also restrictions on what you can use the mortgage for and how the property is used. In general:

The mortgage is intended for the purchase of an existing property.
Self‑build mortgages are not available under typical expat criteria.
The property must be intended as your main family home – i.e. somewhere you will live yourselves, rather than an investment or buy‑to‑let.

You do not necessarily need to have a specific property identified before starting the process. In many cases, you can seek Approval in Principle first, so you know your price range and conditions before you start bidding.

The positive news is that, once in place, expat mortgages can often access standard residential mortgage rates, rather than specialist or higher‑priced products, assuming all criteria are met.

Why this matters if you are still abroad

The biggest benefit of understanding these expat rules early is that it can change your planning:

You may not need to wait 6–12 months after moving home to start your mortgage journey.
You can set a clear savings target for your 30% deposit rather than assuming a lower number.
You can get realistic about what price bracket will work once your income is converted and stressed.
You can time your move, property search and mortgage application so that everything lines up as smoothly as possible.

Many expats only discover the 70% LTV rule or the income stress tests after they have mentally committed to a certain property or budget. Getting advice before you fly home – or before you start making offers – can save a lot of frustration.

Why tailored advice is crucial for expats

No two expat cases are the same. Lenders will look closely at:

Where you live and work
The currency you are paid in
Your employment type (PAYE vs self‑employed)
Your plans for moving back and using the property
Your savings, existing assets and any debts.

Because only a small number of lenders will currently consider non‑euro income and expat applications, picking the right route – and packaging your case correctly – is absolutely critical. This is very much a “speak to a specialist first” situation, rather than trying to navigate it alone.

Ready to explore your options from abroad?

If you are working overseas or earning in a non‑euro currency and thinking about buying a home in Ireland, the best next step is a straightforward conversation about your own situation.

We can:

Look at your income and currency and estimate what a lender is likely to accept.
Help you understand how much you could realistically borrow under current Central Bank rules.
Outline the deposit level you will need and how that fits with your savings.
Explain which lenders, if any, are open to your profile and what their criteria look like right now.
No two queries are the same, so a tailored assessment is essential.

Contact me on

If you would like to discuss your options in more detail, even if you are only at the early thinking stage, having clarity now can make your eventual move home and your first set of keys much easier to plan, contact me:

Tel: 01 669 1078

Email: joeym@irishmortgage.ie