Jump to content

Using personal loan to buy further property


Jay 556

Recommended Posts

Evening all

 

Ive been offered a holiday let which im keen on taking, it requires more capital than ive got so im considering using a personal loan towards the deposit.

Ill take a loan of £25,000 combined with £17,000 re mortgage funds from another property.

 

Does anybody know if this is going to raise any problems with either the brokers or lenders? 

 

Thanks

 

Jay

 

 

Link to post

As far as I know, most lenders won't accept another unsecured loans (credit card, personal loan etc) towards your deposit fund. Equity release from another property should be fine. Hope your broker is a friendly one who can guide you to the right path.

Tony-Ng.jpg

The Glasgow Meet up takes place on the first Thursday of every month, find out more here

Link to post
  • 5 weeks later...

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
×
×
  • Create New...