bim 45700 refinancing

[wesd]

Hi,

I think I understand how I can offset mortgage interest against rental income under bim 45700 if I remortgage a rental property to release funds for personal use but does the loan need to be remortgage? For example, my mortgage includes a personal reserve which I can borrow against at any time; is the interest on this treated the same as the mortgage interest?

Thanks,
Wes.

[King_Maker]

There is no requirement for a re-mortgage (or even a mortgage), a further advance (which is what your Reserve account) is OK.