hi all

I'm looking for some advice .

im single , no kids and had a plan to own a small house in the uk and a small house in thailand , now with the £ exchange rate and other factors im going leave buying a house in thailand for a while , so i want a bigger house here in the UK.

.... i will be going to See a solicitor here in the UK , but i thought id ask what you guys would do ,

i have a small house here in the UK , with a very small mortgage left on it ....

i want to rent out my small house to my friend and buy a larger house I've seen

the problem is , i cant get a mortgage for the 2nd house, my earning (on paper ) are not enough needed to get £120.0000 / 90.0000 mortgage ( i have £30.0000 deposit )

a trusted friend have offered to put the "buy to let" mortgage in his name .

we both know we need to protect ourselves , and we are going to see solicitor be for anything gos throu

I'm not sure what I'm going to need , or if its possible / feasible .

i need to be able to stop him from selling the house or loaning money against it etc .etc , also protection if one of us dies .

any UK solicitors out there ?

thanks

Hi

I am no solicitor but I do have a couple of buy to lets in the UK. (own them all out right now but had buy to let mortgages before)

You do not need to show salary to get a buy-to-let mortgage, the mortgage is biased on the rental income from the property, not your own salary unlike a normal mortgage. You just need a 25% deposit which you have and the ability to prove to the lender the rental income.

Keep everything in your own name, and if your bank tells you different they don't know what they are talking about (many UK bank staff don't) try a specialist buy to let mortgage broker.

cheers