How would I go about paying things in england, if I lived abroad. PLEASE read.

BrettMorganxD

richardw wrote: »

Because they are commercial organisations and interested in making money, if you are letting a property out that isn't on a buy to let mortgage, which makes them more money, then they are bothered.

Doubt you'll find a mortgage that lets you do what you want that isn't at a buy to let mortgage rate.

Can you get a buy to let mortgage and still live in the property after you have done letting it?

Do you need a buy to let mortgage if you are living in the property, but renting out a spare room.

peachyprice

Have you also taken into account the tax you may have to pay on your rental income? And the cost of Landlord insurance?

BrettMorganxD

peachyprice wrote: »

Have you also taken into account the tax you may have to pay on your rental income? And the cost of Landlord insurance?

Yes, I knew it was taxable. But while were on that subject, is it possible to receive rent and pay the tax yearly at the end of the tax year.

Yes defnatly thought of landlord insurance.

But do you need a BTL if your only renting a spare room out as well then?

richardw

How much is the medical insurance for an expat in the Philippines?

Would medical care in another nearby country be included if medical resources in the Philippines were inadequate?

Would you want repatriation to the UK cover if you had a serious illness or condition?

victor2

If you're going to live with any degree of comfort in the Philippines, you need an income from the UK, which you can then convert to Pesos to spend there. The current exchange rate is the lowest I've seen it for many years too. As already said, any income there is indicative of their cost of living and a fraction of what you could get in this country. If you do go, always keep enough money available to buy a ticket to leave, as you will be unlikely to have the capability to raise that type of cash there.
In places, it is a beautiful country with very friendly people. But you need money for everything. There is no welfare state and medical care is not a patch on what you get from the NHS here. Look at medical insurance and what the hospitals near to where you intend to live are like.

loobs40

Just a thought, but as with everything on the information super highway there's bound to be a dedicated expat forum somewhere which discusses everything to do with moving abroad and renting out your property in the UK. Try a quick google

loobs40

http://www.expatforum.com/

first thing that appeared on Google

zagfles

peachyprice wrote: »

Have you also taken into account the tax you may have to pay on your rental income? And the cost of Landlord insurance?

Also management & routine maintenance of the property. If the tenant reports a problem eg a leaking pipe, boiler problem, broken window, who do they report it to and who will fix it?

If the tenant becomes troublesome eg annoys the neighbours with wild parties, damages the property, refuses to pay rent, who will sort it out, take the legal action for eviction etc?

littlereddevil

BrettMorganxD wrote: »

Why can;t you just let your OWN property out to who you like on a normal mortgage?

Don't intend to work out there, justl ive. Phillapeno friend told me it is so cheap £1,000 could keep you going for months

It is not your OWN property if you have a mortgage

BrettMorganxD

littlereddevil wrote: »

It is not your OWN property if you have a mortgage

It is in a way, a mortgage isn't "rent" you have bought the house and are basically paying a bank loan back.

For the other person who said who would tenants or neibours report problems to, I would still have a phone they could contact me with on me.