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BUY TO LET: Cheapest way?

4 replies

TDada · 04/08/2012 07:39

I took out additional borrowing on our home in order to pay off more expensive buy to let there by replacing a 5pc mortgage with a 2.5pc (tracker). I have now spoken to the Inland Revenue 4 times about this just to check that I can still offset the mortgage interest avaunt the rental income. Just thought that I would share this with you. I mentioned this before and an officious poster gave me real grief. I am now confident of the tax position but you can always call the self assessment line of HMRC and ask ...they will arrange for you to speak to a technical expert.

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TDada · 04/08/2012 07:41

I kept a tiny (GBP 800) balance on the buy to let mortgage so that if I ever needed additional emergency funds there would be less administration from to buy to let lender.

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TDada · 04/08/2012 20:49

Bump

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DukeHumfrey · 05/08/2012 07:56

What is your question? You seem to have sorted the tax thing.

TDada · 05/08/2012 08:53

Hi Duke' just sharing the information that this could be a cheaper way to finance your buy to let if you are thinking of doing buy to let.

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