Mortgage Interest payments on Buy to Let

Mortgage Interest payments on Buy to Let

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A new client of mine has recently purchased two buy-to-let properties on buy-to-let mortgages, obviously the interest part of these mortgages can be offset against income for Self Assessment purposes.

However in order to complete the purchases he took out some equity from his own house by increasing his mortgage for the sole purpose of purchasing the other two letting properties.

Is he allowed to included the interest element of his own personal mortgage as it relates to the rental property?

Steve Beck

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By AnthonyDavidMain
24th Aug 2007 14:02

In short...
Yes.... but he must be able to demonstrate the funds drawn on his own private mortgage were used for a qualifying purpose, that is the purchase of the buy to let properties.

Best regards

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