This website uses cookies to ensure you get the best experience on our website, read about our cookie policy.
Accept Cookies
National Residential Landlords Association
Home My Account My Portfolio
Join Us Log In

Can methods of financing a BTL property other than via a BTL mortgage, be tax deductible?
Tax Planning and Financial

Bookworm
Bookworm
5 Thanks
49 Posts
4 years ago
0

We currently have a BTL property with a BTL mortgage. It is time to remortgage.
Our own home is currently mortgage free.
If we choose to raise the finance to keep hold of the BTL by instead raising the exact same outstanding BTL mortgage amount via a residential mortgage on our own house and paying off the BTL mortgage, the borrowing would clearly be used entirely to fund keeping hold of the BTL.
Thus, would the residential mortgage costs be tax deductible when working out BTL income taxation?

Please Login

You must be logged in to participate in our forums, to continue please login below.

Not a member? From only £99 you can join in the discussion and get access to member's only resources and services.

As the home for landlords, the NRLA are here to help you save time, save money, and stay compliant. NRLA membership gives you access to a vast range of expertise, resources, and exclusive member benefits and savings, designed to help and empower members. We also play a pivotal role in campaigning and championing the interests of landlords.

Join Today

Have you forgotten your password?