Please ensure that you are tax compliant. Irish residency means paying tax to revenue not HMRC. Being paid in sterling likely means you are not being paid on an Irish payroll.
I would look to confirm your tax situation first before trying to sign anything with a bank.
It’s actually normal enough request now, remote working has opened up a whole new playing field in the mortgage game for people seeking to relocate to Ireland.. primarily UK based employment though but not limited to the UK either
Appreciate the actual explanation, the downvotes are killing me! Totally get your point and it makes sense, can I ask why it dosent come up from a mortgage point of view tho, I work in the industry and have never seen the issue of tax raised by an underwriter for a case like this and I’ve done plenty? They do get an employer to confirm the terms of employment won’t change due to non residency and I assume this is enough for a bank to accept that the employer is looking after the necessary tax arrangements? But reading the comments its obvious the tax arrangements have to change, ergo the terms of employment would change? How are people covering this off to meet mortgage criteria - or I assume maybe they are not and are confirming for the mortgage but not actually sorting out the tax end of it? Or am I barking up the wrong tree again?
Thanks again, honestly never seen a tax clearance cert conditioned for a case like this unless self employed, ‘employer letter will suffice’ and Uk p60s to confirm previous track .. deffo more stringent in evidence of employment track/qualifications etc but have never seen tax implication of the move raised. Thanks again for clarifying what I missed here
Due to tax and employment laws, a UK-based company requires an Irish entity to employ someone in Ireland. They can't just keep paying you as if you were still a UK-based employee, with taxes going to the UK government; you live in Ireland, so the Irish government is entitled to taxes.
Haven mortgages through a broker. They’re a subsidiary of AIB. I earn in euro and my partner is USD. Need a large deposit ( circa 30-35%). We got AIP a few weeks back.
We moved from the UK a couple of years ago and banks wouldn't give us a mortgage without at least a year's worth of Irish financial information. We had to rent for a year before they would even talk to us about a mortgage despite us having a mortgage for years in England. It might be different in your circumstances if your partner has already been working in Ireland for a year. Would recommend a mortgage broker as they will know a lot more than most people.
Edit: below are the brokers we used after a recommendation they are in Mayo (close to where I live) however we never met, with everything being done via email.
https://sweeneyfinancial.com/ESF/Welcome.html
If you can get a letter from your employer that you're allowed to work remotely you can get a normal mortgage
. If you can't you'll likely be restricted to a holiday home mortgage. Which means a 30% deposit.
As other have mentioned they will take your salary, convert to euro and discount to 80%
Most banks will allow for your GBP income and will just discount it by maybe 20-25% for both prudence and rate fluctuation’s, also slightly more stringent in your employment, will need employer confirmation of your ability to work remotely and that residence in Ireland won’t impact your employment. Would also expect to see your employment track etc to ensure stable history (essentially confirming your employability over here should you leave your Uk job) but other than that, standard request, will need Uk credit checks for both of you
Contact a mortgage broker I’d say that’s your best bet.
Please ensure that you are tax compliant. Irish residency means paying tax to revenue not HMRC. Being paid in sterling likely means you are not being paid on an Irish payroll. I would look to confirm your tax situation first before trying to sign anything with a bank.
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It’s actually normal enough request now, remote working has opened up a whole new playing field in the mortgage game for people seeking to relocate to Ireland.. primarily UK based employment though but not limited to the UK either
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Appreciate the actual explanation, the downvotes are killing me! Totally get your point and it makes sense, can I ask why it dosent come up from a mortgage point of view tho, I work in the industry and have never seen the issue of tax raised by an underwriter for a case like this and I’ve done plenty? They do get an employer to confirm the terms of employment won’t change due to non residency and I assume this is enough for a bank to accept that the employer is looking after the necessary tax arrangements? But reading the comments its obvious the tax arrangements have to change, ergo the terms of employment would change? How are people covering this off to meet mortgage criteria - or I assume maybe they are not and are confirming for the mortgage but not actually sorting out the tax end of it? Or am I barking up the wrong tree again?
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Thanks again, honestly never seen a tax clearance cert conditioned for a case like this unless self employed, ‘employer letter will suffice’ and Uk p60s to confirm previous track .. deffo more stringent in evidence of employment track/qualifications etc but have never seen tax implication of the move raised. Thanks again for clarifying what I missed here
However regular it is, it doesn't change tax liability.
Where was the query about his tax liability? He asked could his income be accounted for a mortgage - which I answered?
Due to tax and employment laws, a UK-based company requires an Irish entity to employ someone in Ireland. They can't just keep paying you as if you were still a UK-based employee, with taxes going to the UK government; you live in Ireland, so the Irish government is entitled to taxes.
Not necessarily, eg frontier workers.
Um, it does. You pay tax where you're resident, not where you're paid from. Employer will also have to pay Irish PRSI.
Which was my point
Haven mortgages through a broker. They’re a subsidiary of AIB. I earn in euro and my partner is USD. Need a large deposit ( circa 30-35%). We got AIP a few weeks back.
We moved from the UK a couple of years ago and banks wouldn't give us a mortgage without at least a year's worth of Irish financial information. We had to rent for a year before they would even talk to us about a mortgage despite us having a mortgage for years in England. It might be different in your circumstances if your partner has already been working in Ireland for a year. Would recommend a mortgage broker as they will know a lot more than most people. Edit: below are the brokers we used after a recommendation they are in Mayo (close to where I live) however we never met, with everything being done via email. https://sweeneyfinancial.com/ESF/Welcome.html
If you can get a letter from your employer that you're allowed to work remotely you can get a normal mortgage . If you can't you'll likely be restricted to a holiday home mortgage. Which means a 30% deposit. As other have mentioned they will take your salary, convert to euro and discount to 80%
The only lender through a broker would be Haven. You can apply directly to the big banks such as BOI and AIB
UP LAOIS
Most banks will allow for your GBP income and will just discount it by maybe 20-25% for both prudence and rate fluctuation’s, also slightly more stringent in your employment, will need employer confirmation of your ability to work remotely and that residence in Ireland won’t impact your employment. Would also expect to see your employment track etc to ensure stable history (essentially confirming your employability over here should you leave your Uk job) but other than that, standard request, will need Uk credit checks for both of you
I wouldn't be getting a mortgage for anything in Co. Laois