Getting a topup loan on a buy to let tracker

Bayview 2019

New Member
Messages
3
Have a investment property worth €240 owe €140 it's on EBS tracker buy to let, morgage repayments are €700 rental income is €1,450 I need to raise 80k to invest in a business and looks like I cannot get a top up even at a higher rate and must sell, any advice appreciated
 

Brendan Burgess

Founder
Messages
37,508
You will not be able to get a topup. The maximum loan on a Buy to Let is 70% or €168k, so even if EBS did want to lend you money, they would not lend you more than €28k.

Sell the property if the business is that good.

Do you have equity in your home?

Brendan
 

Bayview 2019

New Member
Messages
3
Thank you Brendan I had equity in my home but I took a loan on that, my buy to let is my only avenue to raise more money so selling will be the option
 
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