I've had great luck with Coventry, who was League 1 at the time, and had trouble getting out. I lent them a number of good youngsters to move them up to the championship. Now I loan them enough to make sure they stay up, but not enough where they get promoted. Last season I actually had to recall one of the strikers I gave them as he was doing a bit too good of a job. I imagine you could use this strategy with any number of teams in England.
If you don't already have a foreign club, that might be another avenue to look into... I use Minyor Pernik for getting permits. I can buy lots of cheap youngsters, pay them low wages, and still come out with massive profit (or a good player) after their 3 years. They're pretty much my Brazil-mil.