Personal Loan V's Comercial Mortgage

AHJJL

Please can someone help? Brief outline of my situation.

I have a Buy to let property value 125K mortgage 98K Buy to let @ 4.55% for three years fixed (Should I have fixed for five years?)
I have a Commercial property with a self-contained flat value 80K mortgage to be arranged..

I have debts of 80K relating to my business and personal debt. My business makes a healthy gross profit of around 40-50K. (Debts achieved by purchasing commercial property and business purchase.) Debts are: Small business loan 40K the rest is family and credit cards.

I have just applied for a commercial mortgage of around 60-64K at a rate of 2% above base (commercial property with living acc' over 40% of area). I need around another 20K, is it sensible to apply for a personal loan for the rest, or is it a big risk? I have 16K in savings but this is my little bit of security! I know Martin say's this is stupid but it just makes me feel better. I just don't know what to do I could reduce the mortgage at the higher rate, apply for a loan fixed at 5.6% and still keep my savings. However am I risking too much if rates go up? Please help am I missing something or am I doing this the best way? I know Martin says debt is not BAD. However making the right decision with all these different options is mind-boggling?

Robert_Sterling_3

It seems odd, at first sight, that you have £16,000 in savings yet owe money to you family. Also unless you have the credits on 0% interest
or somthing similay then you should consider clearing them of expensive debt.