Petition to reinstate mortgage interest tax relief?

Petition to reinstate mortgage interest tax relief?

17:08 PM, 20th December 2022, About 3 months ago 25

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Since I reposted the petition link this morning, only 500 or so people have signed it!

I appreciate not everyone would have read the post, but why are Property 118 not sending this out daily to all their subscribers? Such an easy way to help. I would have thought this would get to 100,000 easily – in a matter of days!


Reinstate tax relief allowing mortgage interest to be set against rental income

We want the Government to reinstate the ability of landlords to set the full amount of mortgage interest against rental income before tax is calculated.

Like many self-employed business people, I am a small, well-established private landlord that is now struggling to make any money from letting properties.

Unless the ability to offset mortgage interest against rental income is reinstated I will like many be forced to sell my properties. This could reduce the number of properties available on the private rental market.

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Jonathan Cocks

15:04 PM, 21st December 2022, About 3 months ago

Reply to the comment left by Ofer Moses at 21/12/2022 - 10:37
I am probably in the camp ‘we have no chance of changing the decision on Section 24’. However we have little to loose so we must try.
Maybe a partial compromise with no rent increase if we get full offset of all mortgage interest paid. This way the tenant also gets a benefit, and we are better off than we are now, but possibly still worse off than we would have hope to have been with cost of mortgages increasing.
I have signed now 11,512 signed.

Seething Landlord

16:39 PM, 21st December 2022, About 3 months ago

Reply to the comment left by Jonathan Cocks at 21/12/2022 - 15:04
Your suggested compromise might be attractive to landlords affected by S24 but not to those who remain basic rate taxpayers, are incorporated or have no mortgages. Well over 50% will fall into one or more of these categories, probably as many as 75% as it is well known that half are unencumbered, and they are hardly going to be in favour of "no rent increases".

One of the main obstacles to presenting a united front is that different landlords have different interests, so one person's solution creates another person's problem.


19:31 PM, 21st December 2022, About 3 months ago

Signed this.
I think this is a worthwhile petition.
The rules were introduced during a period of long term low interest rates.
The expectation may have been we are in a Japanese situation of permanently low rates. Or they were out considering short term implications as government quite often do.
This situation is different now. So it needs to be revisited.


19:45 PM, 21st December 2022, About 3 months ago

The link to the petition is:

As at 19:45 there have been 11,881 signatures. Come on guys & gals, this is your opportunity to influence government. Don't blow it.


19:48 PM, 21st December 2022, About 3 months ago

Reply to the comment left by Gordon Griffiths at 20/12/2022 - 22:41
Click the link,, Gordon otherwise your voice will not be heard and counted.


20:03 PM, 21st December 2022, About 3 months ago

Signed for both the wife and myself and sent a link to every landlord I know.
I sold a HMO this year, thinking another one let as a single unit next year and so on, 6 people displaced and could be a family next year. Hearing about rent freezes and interest rates going up is a real worry for working class people, put the rent up again next year and could have the tenant complaining but I don’t want to be paying for a property for someone else to live in. It wouldn’t make good business sense.
I work 40hrs plus a week in a car bodyshop not all landlords have super yachts and brand new mercs.


9:47 AM, 22nd December 2022, About 3 months ago

You asked: why are Property 118 not sending this out daily to all their subscribers?

Probably, conflict of interest?

The cornerstone of Property118's Landlords Business Restructuring may well be Section 24 which has wreaked havoc with Landlords who are heavily geared and underfunded. The current system of assessing Landlords taxation is crazy, biased and immoral in my opinion.

Heavily geared Landlords have three options, sell up, lose money and go bust or incur the enormous cost of restructuring.

Neil Patterson

11:26 AM, 22nd December 2022, About 3 months ago

Reply to the comment left by Fairwood at 22/12/2022 - 09:47
That is entirely incorrect and you have obviously not been following Property118 very long.

We spent 2 years fighting the West Brom and won for all Landlords and then donated £11,000 towards the judicial review of Section 24 and supported all petitions over many years too numerous to mention that were utterly ignored by Government.

Despite Petition fatigue, I still published and promoted in the newsletter this Petition which will also be sent out in the weekend newsletter.

We have always been at the forefront of fighting for landlords and when that doesn't work we find solutions unlike many others.


9:13 AM, 23rd December 2022, About 3 months ago

Although I've signed and promoted this petition, I doubt it will work.

I think it would be more likely to have got consideration if its purpose was to reinstate tax relief on mortgages that were in place before S24 was announced. Changing the playing field when you are already committed to the game was blatantly unfair. Anyone that entered the game after the rules changed, unfortunately, that's the game you entered.

Ian Simpson

7:32 AM, 24th December 2022, About 3 months ago

Yes, we tried this back in 2015. Got well over the 100,000 required and the govt. just ignored it anyway and would not even entertain a judicial review which cost many of us a lot of time and money to try and instigate. Sadly, we live in a communist state now under the Consocialist party. I have sold six of my eight HMOs, other two are on the market and the flats & houses will go soon as well. Excess funds all going into bonded Scotch Whisky barrels : 12% return tax free, and no cannabis or vomit to clear up... 🙂

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