I am looking to make an investment, preferably in a property in the uk, to rent out. My situation is as follows:
Occupation - Engineer
Currently residing - Australia
Nationality - British
Return date to uk - 2015
Savings - 50000 Gbp
Weekly savings - 1100 Gbp
I have spent the past 2 months looking into options for investments and can't seem to settle on a particular area. Property is my preferred option as I will eventually move back to Scotland. I've been looking at student let's but management fees are very high.
If you were in this position would you look to purchase a flat for 50k and not deal with banks, or would you be looking at a property for say 150k and a 66 percent mortgage.
I am not looking to live in the property at any time in the future and would consider purchasing anywhere in the uk.
Has anyone had any experience purchasing a property in the uk from overseas?
Am I being too ambitious thinking I can purchase a property from overseas? Should I just accept my money will be left in the bank and make less interest, with a lower risk and save until such time until I am living in the uk and can make a more informed decision on what is a good investment.
Any help, opinions or ideas would be greatly appreciated.