14:26 PM, 23rd February 2021, About 7 months ago 2
Hello Everyone, Can anyone clarify the following.
Is tax relief on mortgage interest for personal remortgage funds available if :
1. Funds are withdrawn for personal use and not reinvested?
2. Remortgage funds are reinvested, but exceed the purchase price of the properties?
The problem of 2. is an established portfolio of long-standing giving large gains in value.
If 1. Is no – then a pension can’t be taken other than from rents?
If 2. Is no – then the investment can’t continue, as without tax relief it would not be viable?
Thank you and regards
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