UK Landlord Forum / Life

Hi All,

Does anyone know if there are any tax benefits of getting a BTL mortgage? I'm trying to work out which one to get, I have the choice of raising capitial on my salary for a new mortgague for my new home which I plan to live in. I'm going to rent out my current house which is now mortgage free. OR I could get a BTL mortgage on my current house and use that money to buy my new house.

I posted a reply and lost it!

In essence , get the best rate you can, get your house you are renting valued, provided the house value is more than the new borrowings you can claim the interest element of repayment against your rental income. You may get a better rate by getting a mortgage secured on both properties, you can effectively get tax relief on interest paid on a mortgage of your PPR by doing it this way, which is nice.

Fingers crossed this posts...