10:15 AM, 14th April 2015, About 7 years ago 19
I am planning to buy a property at auction and am lucky enough to have £350K liquid cash to do this.
My accountant tells me that if I remortgage after buying the property at auction and release £262,500 back to me (75% LTV), I will not be entiteled to any tax relief on the loan against the rental income from this property I will have bought. Surely he has gone bananas?
Appreciate any advice on this please