Ability to offset mortgage interest
Tax Planning and Financial

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1 Posts
16 years ago
We have a property that we rent out that currently has a mortgage of £30000. The current value is about £150000. We would like to take out a 2nd mortgage on the property to free up capital. Can we increase the mortgage on the property to say £100000 and claim interest relief on the new amount, or can this only be done if the additional £70000 is invested elsewhere in rental property?

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