X

Sign Up

or

By signing up I agree to Property Tribes Terms and Conditions


Already a PT member? Log In

Sign Up

Sign Up With Facebook, Twitter, or Google

or


By signing up, I agree to Property Tribes Terms and Conditions


Already a PT member? Log In

Log In

or


Don't have an account? Sign Up

Forgot Password

To reset your password just enter the email address you registered with and we'll send you a link to access a new password.


Already a PT member? Log In

Don't have an account? Sign Up

  • Tax

    BTL Re-mortgage to Finance Comm. Property

    Recently thought I saw a thread regarding BTL re-mortgage on a residential let property to release equity to finance a commercial property purchase and was sure in that case mortgage interest relief would continue to be deducted in full beyond 2020 as the money went to a commercial property purchase....a kind of loophole exception ?

    Tried in vain to dig that thread up. Is that correct and a unique situation that allows mortgage interest relief to be on-going and deducted in full past the removal of that relief in 2020 ?

    0
    0

    Sounds rather convoluted (but entire possible with the byzantine number of rules and exceptions relating to tax) - simpler option less open to issues on the tax front is to mortgage / remortgage the commercial property to pay back the additional borrowing on the residential ?


    0
    0

    DISCLAIMER just my personal opinion - for legal advice consult a qualified professional grown-up.


    Yes it does not apply to commercial property. Furnished holiday lettings are also not caught (although be aware of failing to meet the criteria one year)

    Commercial property is often bought in pension schemes which can be good for income tax and IHT.

    0
    0

    Chartered Accountant, Tax Advisor and Mortgage broker

    (and BTL portfolio owner)

    stuart@johnsonsca.com

    02039077022