Pine Cone

I'm hoping someone might be able to point me in the right direction here. We have a rather large chunk of inheritance sitting in our UK bank account and we have no intention of bringing this money out of the UK since the GBP is so depressed. We are looking at purchasing a 3-4 bedroom rental property, putting down a 75-80% deposit, with a rental income about 300% + of the mortage payments.

We have hit a rather annoying stumbling block, as it seems most mortgage brokers require us to commit to returning to the UK within 2-3 years in order to get a buy to let mortgage, and will only allow us to get a residential mortgage if we were renting a property to a family member. We currently intend to return in 3-5 years, in order for our kids to finish high school but certainly not in the next 2-3 years they require. Also, most of the banks that do specific expat morgages require you to borrow a minimum of £100k, whereas we only want to borrow £35-45k.

So, has anyone managed to arrange a smaller UK mortgage recently? And if so, can you point me in the right direction

P18PPS

you could fib.... otherwise bank loan rather than mortgage???

DC10

For the amount you're talking about you could, so long as you play the cards carefully, almost do that with special offer UK credit cards - interest free for first 12/18 months etc. then shuffle the balances around...