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Where Taxpayers and Advisers Meet

mortgage not on buy to let property

rfullarton
Posts:6
Joined:Tue Sep 15, 2009 11:27 pm
mortgage not on buy to let property

Postby rfullarton » Thu Dec 08, 2016 1:28 pm

hello i have a interest only mortgage on my main residence but let out my owned former private residence

i wanted to mortgage old residence but bank did not want to offer this ...

we renovated the new house whilst living in the old house , this makes timing of expenses tricky ...

my questions:

1) has anyone claimed the interest tax relief for another property for a buy to let property and what did u tell the hmrc ... should i give it a go ? should i provide notes on the set up or leave it blank ?
2) can i only claim interest for years that the property was available to be let ... i assume so .. if not should i try claiming back all years of interest charged ?
3) i was charged a fee for the mortgage 2 years before we started to rent out the property ... can i claim this in this years tax return ?

thanks

bd6759
Posts:4262
Joined:Sat Feb 01, 2014 3:26 pm

Re: mortgage not on buy to let property

Postby bd6759 » Fri Dec 09, 2016 7:29 pm

What was the purpose of the loan?

rfullarton
Posts:6
Joined:Tue Sep 15, 2009 11:27 pm

Re: mortgage not on buy to let property

Postby rfullarton » Fri Dec 16, 2016 12:44 pm

purpose on loan was to purchase new primary residence but the size of the loan allowed me to keep original property and rent this out.

so there was a dual purpose to the loan


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