A married couple have a mortgage on their home in joint names.
They have property portfolios of 3 buy-to-lets owned jointly & 5 owned solely by the husband.
We are looking to introduce the mortgage (& therefore interest) from their home into the lettings businesses. However, can the mortgage on their home be introduced solely by the husband, and the interest offset against his 5 properties, or does it have to be introduced on a 50:50 split?
The husband could introduce the full mortgage across his portfolio without it making his capital account overdrawn, whereas the wife would not be able to fully utilise her 50% share.