Allow Landlords to evict tenants where there are 14 days rent arrears14:34 PM, 1st October 2020
About 3 weeks ago 97
15 years ago, I purchased a BTL property for £300k and financed this with £130K re-mortgage against my home and a £170k BTL 20 year interest only mortgage, (my home mortgage is also an interest only).
For the past 15 years I have been claiming tax relief on both mortgages, to offset my costs (subject to the new interest rate changers introduced in 2017).
I have now moved and my new mortgage, with a new provider is now reduced to £100k and is also interest only.
My question is whether I can still offset my reduced home mortgage costs against my BTL flat as before, my understanding is that I can, as the £130k loan I took out is still implicit in my new mortgage although reduced by £30k.
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