Is it a good idea to go for buy to let now?

I agree with cbrammeld.  Buy to let in Spain? NO, NO and thrice NO!  Look at what's happening there at the moment. We have three properties in the UK...rented out, no problems, and looking for a fourth right now.

Yes, Spain is much more 'romantic' but it's your money (livelihood) you're talking about....

I agree with you. do you know much tax I should pay as an expat (landlord) to the Inland revenue? I mean what's the percentage? is it 10% of what I recieve as rent? or how does it work? 

Hi Figo

With the way the world economy is at the moment I would be careful about borrowing money to "invest" anywhere.

I can't see property prices reducing in thr UK much, but Spain could easily see a sharp slide.

If you have 25k, I would go out there and make some silly offers on property you could use or just rent out.

I have a budget of 50k (cash) and am going to Spain in a couple of weeks to find a bargain for family use and if I can rent it out for 6 weeks a year during UK school hols it should pay for itself.

Good Luck

 Many people are accepting silly offers at the moment, a client of ours just accepted 50k on a house originally advertised at 130k. Speak to your estate agent, they probably know which sellers will accept low offers!!

 ok regarding the UK ! I can see there are lot of cheap 1 bed flats for retired people. Do you think these are good invesment? or are these flats difficult to let out? I know that these flats are for retired people only to live in. One of the Agnecies that I called told me I can buy some of them as an a non-retired buyer. 

Hi Figo, only just came across this thread, so did you secure anything yet?

Even in better times Spain has never been anywhere close to UK in terms of achievable rental yields.

Couple of things to be aware of as you mentioned 1 bed flats for retired people: 

(a) Sounds like you have a 25% deposit which is great but there's no BTL lender in UK who would lend against these type of properties.

(b) Even if you had the money to buy outright, there will generally be restrictive covenants that don't allow sub-letting, hence there's no legal scope for investor landlords.

There are lots of different ways to make money in the current UK market (or alternatively lose money I might add!). I source investment properties primarily in the midlands area and have contacts nationwide but wouldn't dream of flouting forum rules so wont post any contact info. If you want to drop me a pm I'll simply recommend you visit a specific property forum where the type of advice you seek is freely available via people from all types of backgrounds with a broad range of experience.