Remortgaging BTL and subsequent sale

[Capt Webb]

Hi, if I remortgaged a rental property to raise money to buy something else such as a car or another property but then decided - or had to - sell the remortgaged property, on selling would the new mortgage be taken into account and reduce any potential CGT? Or would CGT be based on existing, original, mortgage and due on settling that at the time of remortgaging?
Thanks in advance for any help or advice.

[Botcamper]

Any mortgage or borrowings on a property are ignored when calculating the capital gain (or loss). It is simply a case of sale proceeds minus original cost (plus allowable costs of purchase and sale) to calculate the gain (or loss).

[Capt Webb]

Any mortgage or borrowings on a property are ignored when calculating the capital gain (or loss). It is simply a case of sale proceeds minus original cost (plus allowable costs of purchase and sale) to calculate the gain (or loss).

Many thanks