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trying to get my head around BTL idea

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  • de1amo
    de1amo Posts: 3,401 Forumite
    1,000 Posts Combo Breaker
    edited 6 May 2011 at 5:20PM
    uk is a secure stable place compared to where i live for money/property-its my nest egg in times of turmoil plus my Turkish wife wont let me sell it!--i come home in the summer and need a base to feel at ease. the 3 months of summer rental that remains is equal to a 12 month rental as a conventional let-its a highly desirable location for holiday lets being 10 mins walk from bournemouth beach!
    -i could dump any income and money in a turkish bank and get 9pc but it really is a risky prospect--there are lots of very impoverished expats out here that are struggling to make ends meet and cant get back to the uk!!--i work but they drink and bemoan their lives!!

    i would like an easy solution??? i just want to buy another home in turkey by releasing equity in the uk--my income is high in turkey with lots of liquidity and assets but the interest rates out here make loaning unpallatable-i do need to keep a base in the uk for the above reasons--the income and paying is not a problem!
    mfw'11 No68- 55k mortgage İO--little to nothing saved! i must do better.
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