but to let mortgage interest relief

[mark willis]

Hi

I am about to buy another buy to let property. I have the cash to buy this outright if required or have the option of raising the cash either on my own flexiable mortgage (lower rates) or a new buy to let mortgage (higher rates).

However this cash I have, I have been saving for my principle primary residence i.e. moving house which I will be doing when I sell mine! so not needed as yet but will be within 1-24 months.

I wish to minimise costs but also be able to off-set the loan interest, so.

1. If I pay cash for the new buy to let can I then re-mortgage it at a later date and be able to offset the interest? (effectivly loaning the buy to let the money)
2. If I use my own flexiable mortgage to fund it, I think I can still off-set the interest?
3. If I use cash can I then re-mortgage my new house (when I move) and claim this interest?

Many thanks (again)

Mark

[Incredulum]

1 yes.
2 yes.
3 no - if you mean "mortgage your new house" not "remortgage".