Getting a topup loan on a buy to let tracker

[Bayview 2019]

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]

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]

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