UK Landlord Forum / Life

I have a repayment mortgage on the property I rent out. I get an annual mortgage statement from the lender but it runs from January to January so how do I calculate the amount of interest paid April to April?

I'm hoping there's a simple formula but experience tells me it won't be that easy.

I've always just asked the Lender. They provide a mortgage interest tax statement - no calculations required.

Just as an example, when you request from NatWest, they ask - "Would you like a Certificate of Interest for a particular tax year?" - and you reply "yes".

With YBS, you need to message them or call-in.

You don't work off your annual statement and you don't start to calculate it yourself... that's a recipe for disaster.

But... shouldn't you have done all this already if you're doing a self-assessment?

Thanks. Asking the lender is quite obvious. So obvious in fact that it never crossed my mind! I'll give 'em a bell.

I only rented out my property for a few months of the 2014/2015 tax year so my income was below the threshold for submitting a tax return. I'm just planning well ahead for next year.