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Old 26.12.2019, 15:27
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HomesickAlready has slipped a little
Buying house in UK to rent out

For the last couple of years Iíve been thinking about ways to invest my savings. Looking at a lot of different options, but never settled on anything. However, I really liked the idea of buying a property and renting it out.

While talking to my parents about this over Christmas, they mentioned that thereís a house a few doors down that will soon come on the market. An old lady lived there but she passed away recently. The house could do with some work, but it sounds like it wonít be too expensive as itís quite small. Iíd expect in the region of £170,000.

Due to my parents close proximity, and the fact itís a great area, Iím really tempted to get a buy-to-let mortgage and give it a go. My parents think itís a great idea and have already volunteered to do the decorating and gardening etc.

I have enough for a solid deposit, but Iím a bit put off by the complexity of it all, with me being in Switzerland. Buying a property in a country youíre not a resident in seems problematic. Then thereís the Brexit effect as well as tax complications etc.

I spoke to the banks Iím currently with in the UK and none were interested in providing a mortgage for a non-resident. So Iíd have to go with a specialist broker.

So Iím wondering if anyone has experience buying a house in the UK to rent out, while residing in Switzerland?
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