Could I be hit with a big property tax bill???Make Text Bigger
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
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