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BTL mortgage advice for a foreign retired investor

Started by zee.79, June 25, 2008, 01:52:29 PM

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zee.79

my father wants to buy a property to let out.
he lives aboard and is looking for a buy to let mortgage.
he has about £40,000 and wants to know how to secure a mortgage and how much he can borrow?
thanks!!

propertyfag

Hey, Zee.

Does your father have UK Citizenship, or is he a citizen of where he currently lives?

Badger

Hi Zee, more info needed,
The best thing for him to do is come to the UK and have a look for himself at the market and what he can get for his cash,  he will then need to go to an advisor etc to get the money side of things sorted, at the same time he will need a solicitor to sort the legals etc,
If he is wanting to let and as he is over seas, it may also be wise for him to have the place he gets managed by a local proerty managment company, then if there is any problems with tenants etc he can get it sorted without comming over to sort it himself..