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Capital raised on own home used for rental purchase

21/05/2019 06:37:52
I have borrowed some money on my flexable mortgage on my own home to purchase a rental property, for the limited time left can I claim the interest against the rental income?
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Re:Capital raised on own home used for rental purchase

21/05/2019 11:43:40
Hi,

Thank you for your question.

In this case you need to look at what the purpose of the loan was and not how the actual loan was secured. Due to the fact that the loan was used to buy a rental property then you can claim for any loan interest and any loan arrangement fees that you may have incurred.

As you have stated the tax relief claimed will be under the new finance costs rules that came into effect from 6 April 2017.

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