Hi,
I own 5 BTL flats with interest only mortgages all in my name only. I bought these when I was single, but I am now married.
I propose to change the beneficial ownership of these flats by Declaration of Trust to a 50:50 split with my wife.
As I understand it, 50% of the "income" will now be chargable to her tax and 50% to mine.
My first question is: Can half the mortgage interest and half the maintenance charge be offset against her share of the rents?
And secondly: If I changed to beneficial ownership to 100% my wife, could she offset all the mortgage interest and maintenance charge or none of it?
Many thanks
David
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