B
BusinessMan
Guest
I am looking for advice on borrowing to start a business.
Currently I am in full-time employment and am in the early stages of planning a business of my own. I will need to borrow some money to do this, and am wondering about the advisability of increasing my mortgage.
I have a fair bit of equity in my home by now, and would be thinking of borrowing about €50k more. This would still leave me with >50% equity.
The logic behind this is that the mortgage rate is lower than most other forms of borrowing, and once I leave work, I have little chance of borrowing more against my home - at a good rate, for a few years (due to lack of income, initially).
I am aware of the risks that this entails, but long-term, the advantages seem to outweigh them ? Any comments or warnings ?
Currently I am in full-time employment and am in the early stages of planning a business of my own. I will need to borrow some money to do this, and am wondering about the advisability of increasing my mortgage.
I have a fair bit of equity in my home by now, and would be thinking of borrowing about €50k more. This would still leave me with >50% equity.
The logic behind this is that the mortgage rate is lower than most other forms of borrowing, and once I leave work, I have little chance of borrowing more against my home - at a good rate, for a few years (due to lack of income, initially).
I am aware of the risks that this entails, but long-term, the advantages seem to outweigh them ? Any comments or warnings ?