Funding a BTL by a Mortgage on my home - 20% tax relief?
Tax Planning and Financial

Catman
Catman
0 Thanks
12 Posts
1 year ago
0

Hi All,

I am considering buying a further BTL property and raising the funds to buy outright by taking out a mortgage on my home. I will then become a cash buyer and hope to bag a bargain (if poss!).

My question is, would the interest payments on the mortgage I take on my home become valid to offset against income? I am a lower rate tax payer and understand the S.24 rules do still allow up to 20%.

Any thoughts would be greatly appreciated.

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