SMF - Just Installed!

buy to let via personal loan, commercial BTL or secured loan?

Started by buytoletspv, March 26, 2016, 10:17:39 AM

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buytoletspv

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? Or a BTL commercial mortgage via SPV? Issue with the latter is the property being £40k and from broker i have that seemed a no go.. most commercial BTL start at 75k

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?