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Where Taxpayers and Advisers Meet

Initial purchase of BTL property without mortgage

dotto
Posts: 51
Joined: Wed Aug 06, 2008 3:16 pm

Postby dotto » Wed Feb 27, 2008 12:07 am

I am currently offering on a property which I intend letting. Because the property is in very good residential area, others are also interested. I am able to pay cash initially to help secure the purchase (quick sale for the vendor), and then take out a BTL mortgage afterwards. Will this in any way affect my tax relief on the buy to let (ie taking the mortgage out after the purchase).

Thank you.

jpcentral
Posts: 924
Joined: Wed Aug 06, 2008 3:28 pm
Location: Loughborough
Contact:

Postby jpcentral » Wed Feb 27, 2008 12:24 am

Noprovided the mortgage does not exceed the original purchase price. The purpose of your BTL mortgage will be withdrawal of capital from your letting business.

John Perry
Central Business Services
Loughborough
www.centralbusiness.co.uk
John Perry
Central Business Services
Loughborough
http://www.centralbusiness.co.uk


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