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ExPat Newbie mortgage min loan challenge


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Hi all,

 

First post, so go easy on me.

 

I'm UK expat living in Munich with my German wife and seriously interested in starting the property investment journey back in the UK.  I'm in the early stages educating myself through the excellent TPH & TPP resources, making connections, getting advice and already meeting early challenges. 

 

One such challenge is Expat BTL mortgages.  I've had some helpful conversations so far with brokers and mortgage companies direct, but the initial issue seems that most will only offer Expat BTL on a min loan of between £100-150k.  However, I think the numbers will only really work on good value properties in Northern cities, where great opportunities can be less than £100k, plus as our first investment, we don't want to over-stretch ourselves.

 

On this the cogs started whirring and I thought: is it possible to set up a Ltd company with a family member \ friend based in the UK listed as a director\share holder and try to secure a Ltd company BTL mortgage without the Expat rates and a lower or no min loan value?

 

Any ideas if this is even possible or any potential problems or implications?

 

Cheers

Tom

 

PS - I'm flying over to the UK for the August meetups.  Any suggestions on which I should attend (I fly into Manchester)?  I know they'll all be great and helpful, but should I go where I'm interested in starting or any city better for a Newbie?

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Hi Frankfurt Rob, thanks for your message

 

I have considered investing here and we even have friends, who have invested to rent.  A few things make it difficult:

 

My wife is in a demanding job, plus, we have a young family, so the idea is that this is my project and she is unable to be involved.  Unfortunately, my German language skills are ok, but not good enough to deal with Makler, Mieter or Handwerker if needs be.

 

I have little idea of geography, demographics, let alone the market beyond Munich and I'm pretty sure we've missed the boat where that is concerned, although I know rental demand is sky high.  Munich prices are crazy.  Even though I'm considering investing in the North West, which I also have limited experience of, I at least have a general knowledge about areas, have contacts there or feel comfortable in researching.  I'm also put off by the legal side here.  It seems virtually everything is stacked in the tenants favour, although I could be wrong.

 

Finally, one of the drivers behind this plan, is that we are likely to move back in 3-5 years time, so we see this as generating an income in the UK and providing a foundation, should one of us be unemployed at the point of returning.  Also, we're taking advantage of the weakness of sterling.

 

I'm meeting with an IFA next week both here in Germany and in UK, so I'll get their opinions.

 

 

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