Tax relief on PPR loan

I have a client who has a mortgage free PPR and wishes to take out a mortgage on his residence to buy BTL property. Can the setup fees and the interest be written off against the rental income of the new BTL? The new BTL is £185K and he will seek to mortgage his PPR for loan of £150 on a value of £350.

Thanks

K

 

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Ermintrude's picture

Yes

Ermintrude | | Permalink

Yes they can.  How the capital is raised doesn't matter - its what it is to be used for, in this case the business of letting.

Loan on PPR

kirtiroser | | Permalink

Thanks for the prompt reply.

Kirti

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