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I can't be the only one in this position surely??

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Morning everyone,

I have been stumped for a very long time in this and would appreciate some experienced advice


I have always wanted to invest in real estate. It is my dream to build a portfolio.

Although I have 1 giant hurdle ...surely somebody else has been through something similar.


I work as crew on a superyacht ... so I live on a boat year round.... I have absolutely no need for a residential home in UK as it would just be a big expense, and when I'm home I visit family


I earn a USD salary which is paid directly into a UK bank account.

I am a first time buyer



Despite doing the grueling work of saving for a big deposit and working my way up to a good salary ... The double whammy of being a 1st buyer and earning $ means btl mortgage lenders will not touch me until I buy a residential property


.... So I'm a bit stumped..... 

It seems my only option is to buy a residential home, which I won't live in because I'm at work and will be a big monthly expense.

Then, very slowly, due to this home/liability, save up another deposit to finally begin my btl real estate journey.



Solution I'm considering:-

Getting a 2 bed residential. Lock one room and have this as my home in the UK and make sure I visit. I could consider a lodger for the other room

it would not cash flow, even with 3 rooms, but it would subsidize my expenses .... 

I could then get a consent to let after 6 months, and let out the house, although I understand c2l is not an indefinite solution.


From what I read this solution would be legal but I have been advised yesterday by a broker that this may be considered fraud?, I understand house hacking is all the rage in the USA but seems to be shady in the UK and I don't want to do this illegally.

Do you have any thoughts?


Back up solution ...

Save up and buy in cash. 

This would take me a very long time and is not what I want to do ideally, particularly as deflation is likely to be ripe this year


Otherwise I have no clue what to do?


There must be other seafarers, oil rig workers, expat or offshore workers out there who have been in this position before?

Can anyone think of a good solution?


Thanks so muchpan widgetpan widget

Edited by andy bland
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Andy I have sent you a PM as I need to ask some more personal info to see if there may be any scope to assist with your quandary. 

Property investor ¦ Commercial Finance Broker ¦ Ex banker with 20 years lending experience. 

Commercial Lending Manager at Real Finance Ltd - www.realfinance.co.uk
Happy to discuss any queries regarding property finance for  Company/Complex BTL, HMO, MUB, Holiday Let, Commercial, Bridging & Development.  


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