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
7 months 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?

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