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buy to let via personal loan or secured BTL?
buytoletspv
Posts: 7 Forumite
Hi, hoping someone with more knowledge than myself can give me their opinion for the best way to structure financing a buy to let purchase... Looking to buy a BTL property around £40k (perks of buying in Scotland) via a SPV and trying to find the most cost effective way to do it.
Do i go via a personal loan or am i better looking at secured BTL loans? I can put down 25-30% deposit, property already has tenants (DSS) and rental is more than adequate to cover loan payments from what i can see. Credit rating should be good and my salary is high
any advice from those who have structured BTL financing in similar manner?
Do i go via a personal loan or am i better looking at secured BTL loans? I can put down 25-30% deposit, property already has tenants (DSS) and rental is more than adequate to cover loan payments from what i can see. Credit rating should be good and my salary is high
any advice from those who have structured BTL financing in similar manner?
0
Comments
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Getting lending as a SPV is tricky enough, £40,000 properties and DSS are further complications.
If you get a personal loan how are you going to get the funds in and out of the SPV. Loan or Share capital, which is best?
You need advice from an Accountant before you do anything else.I am a Mortgage Broker
You should note that this site doesn't check my status as a Mortgage Broker, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0
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