BTL current flat

Hi,

Looking for some advice.

Currently live in flat "worth" about 155K. Owe 134K on a boer+0.99% full term deal (currently 1.49, but I guess the only way is up for that rate).

Have about 50K cash.

We have ~73K joint income. No other debts or liabilities.

Looking to buy a house "worth" 155K. We would switch our existing mortgage to this new house and hopefully get a buy to let mortgage for the flat.

I am hoping we could get a reasonable BTL with 30% deposit, meaning we would need to put ~25K into BTL deposit (using the existing equity in the flat for the remainder of the deposit).

That would only leave about 25K deposit for the new house, but my existing (portable) mortgage would cover that, assuming there are no complications with the LTV on port of the mortgage to the new place.

Does it look feasible?
What sort of interest rate should we expect to pay on the BTL, and is putting the bigger deposit on the BTL the correct thing to do?


-M
-M