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Maybe the property isn't mortgageable if it's BMV for a reason. Maybe the intention is to pay it off once the shares have risen 80% again.london21 said:Something seems off about this post. Lots of red flags.
If you genuinely want to go into BTL why not get a mortgage rather than a loan with 25% interest?Dazza23 said:I work full time for the Royal Mail but want to start a buy to let property portfolio. I have a very good verified contact in the BMV property sector so any property purchase would create immediate equity. I am looking for a loan of £60k which I will pay back as a lump sum in 1 year with 25% interest (£75k in total). I have a healthy share portfolio with Hargreaves Lansdown but don’t want to touch this yet as it is going up very quickly (and I can use as collateral).
I have tried for a Lombard loan against my share portfolio but they state that the shares have to be worth a minimum of £500k.
Any advice greatly appreciated on the best way to acquire the loan?Remember the saying: if it looks too good to be true it almost certainly is.0
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