For UK purposes, any income you receive from the property will be taxable. However, you will be able to offset some expenses against the income, including some of the interest on the loan to purchase the property. If you are only charging a modest fee, it is possible that the allowable expenditure will cover the actual income.
When you sell the property, any profit you make may be subject to capital gains tax at 28%.
If you have foreign domicile you may be able to defer the tax on overseas income and gains.
You also need to consider the tax position of the country where the property is situated.