Buying in U.K. when living overseas.

[thymeandplaice]

I need someone to point me in the right direction please! We live overseas but would like to buy a house in Scotland for when we visit family. We would be both first time buyers and buying to let (plan to rent it out most of the year as a holiday let).
I really don't know where we stand in terms of getting a mortgage when we earn overseas, how much income we need to show etc etc. By chance is anyone else in a similar situation that can recommend a bank or building society? I really know nothing about mortgages and DH is not from the uk.
I hear there are changes to buy to let taxes, and also wonder how brexit and Scotlands position re that will affect things. Is it a crazy time to buy?!

I should add that said property may become our permanent home at some point in the future.

You need to do your research... holiday lets have a different status to buy to let's and I think you need a special permission. Also, it might be tricky to get a mortgage as that often depends on the anticipated income. In addition, it might be easier to get a mortgage in the country where you actually work.

Suggest you go onto the forum Lay my hat. This is a forum for people who let their properties as holiday lets. Lots of useful advice. I run a holiday let as I live overseas so it can be done. Send me a message if you have any questions.

Take advice. A probably best to buy the home with an offshore company you own. More tax effective.

We went through this at the tail end of last year, although ours is not a BTL property. Both first time buyers like you. We used a broker who did the groundwork in finding building societies/banks who would look at our situation and give us a preliminary offer. DH is also not British but because he works for a U.K. company we were told this would help with our application. We put 45% down as a deposit on a 15 year mortgage at, I believe, a fixed interest rate of about 3.5% for first two years with Marsden building society who specialise in expat mortgages.

Be prepared to do a LOT of form filling which became very frustrating but you'll get there! Good luck.

Owning a house in Scotland and renting it out may have tax implications for you depending on where you currently reside. Usually a country will tax a resident on income from all sources – domestic or foreign.