14:31 PM, 17th January 2022, About 4 months ago 8
Osbourne’s private landlords mortgage interest trap, but what if there is a way of changing this by releasing equity to purchase holiday or commercial property?
I have three private buy to let properties, that push me into the 40% tax band every year. I figured what if I remortgaged those properties at a very cheap rate, right now I can get a 1.99% fixed rate for five years, I have plenty of equity in them and could raise a considerable sum, enough to buy a Holiday let or commercial building outright.
My question is, can I claim the interest charged on the buy to lets against the holiday let?
All I am doing is borrowing on my buy to lets, putting that into savings and then buying my Holiday let/commercial building. As we all know, you can claim the interest back on Holiday lets and commercial buildings.
If this is acceptable, it could help plenty of us private landlords across the country.
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