Latest Posts
Home > Ask The Get Out of Debt Experts > Living in Republic of Ireland and Struggling to Make Property Payments. Will We Lose Our UK Property?

Living in Republic of Ireland and Struggling to Make Property Payments. Will We Lose Our UK Property?

“Dear Jon,

I lived in the Republic of ireland from 2000-2008. My husband and I purchased a property there in 2005. We are struggling to make the payments on this property as we have since bought a house in northern Ireland (where we have lived since 2008).

My question is if we were to foreclose on the Republic of Ireland property can the Irish bank repossess our uk property? Whay are the rules around making yourself bankrupt and not living in Ireland but in the uk?

Thanks in advance.”

Don’t miss our free Get Out of Debt – “How To” Guide Series on a number of topics, for loads of practical advice, tips, and help to beat back debt. – Click Here

The Answer

I really cannot say as to if your were made bankrupt in the ROI if they could go after property anywhere else in the world, however as the UK is a part of the EU, I would venture there may be some reciprocity between the two countries. You may be best to speak to someone there to get a more definitive answer.

You can move the UK and go bankrupt in the UK and include debts in the EU, which means you can go bankrupt in the UK and include and debts in ROI, including any shortfall from a repossession. In order to do this you must meet the requirements outlined by the insolvency service.

This means you must not just live in the UK and establish residency, and this time-frame varies depending who you speak with from three (3) months to six (6) months, but you must also work, bank, etc, here in the UK. You need to establish the majority of your interests or what they call centre of interests in the UK.

Once you have done this you can go bankrupt in the UK and include any EU debts you may have.

You also may wish to research the changes proposed in the Irish insolvency laws for 2013. The changes mimic the UK’s insolvency laws and there is one major change about banks/mortgage companies having to value a property based on the mortgage balance; this to help the property owner not experience such a huge loss of equity or value.

I hope this helps.

Regards,

Jon

Living in Republic of Ireland and Struggling to Make Property Payments. Will We Lose Our UK Property?Jon Emge is an experienced UK debt advisor who has helped thousands and thousands of people in the UK to deal with problem debt. Jon specialises in finding good solutions for problem debt using a variety of UK specific techniques.

If you have a question you’d like to ask about how to get out of UK debt, just use the online form. I’m happy to help you for free.

Share This and Spread the Word

About Jon Emge

Jon Emge

Get My FREE Get Out of Debt Guy Newsletter

It is the smart thing to do.

I promise to keep your email safe and secure.

Close

I want to keep you posted each weekday with just one email about the latest get out of debt news, scam alerts and information to beat back debt.

You can unsubscribe at any time with just one click.

After you subscribe, check your email to confirm your subscription. If the confirmation email does not appear in your inbox in a few minutes, check your spam folder for it. Sometimes it likes to annoyingly hide there.


  • It will keep you posted on the latest scams.
  • You will be alerted to the latest articles.
  • You will wind up smarter than everyone else dealing with debt.