Hello
I remortgaged my residential home and released equity to put towards the deposit on a BTL property at the end of 2014. This fell through and it wasn't until the end of January 2016 I purchased a different BTL flat.
I have been paying additional interest on the extra money released on my residential mortgage. I thought I would be able to claim tax relief on this, at least from the point at which the BTL sale went through, but a HMRC advisor told me today this was not the case as 'everyone would be doing it'.
I have seen different advice from accountants online on this and I'm not sure why I shouldn't be able to claim tax relief as the extra mortgage taken out was for the BTL and nothing else.
This is however my time doing a self assessment tax return.
Please can someone with knowledge clarify? Many thanks
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