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    big leon
    Buy To Let Mortgage (Interest Only) - Overpaying and Tax Implications?
    • #1
    • 15th Mar 10, 10:47 AM
    Buy To Let Mortgage (Interest Only) - Overpaying and Tax Implications? 15th Mar 10 at 10:47 AM
    Dear all,
    I'm after some advice please.

    I have a property that has just been rented out (12 month tenancy started Feb 2010) on an interest only mortgage. I am now looking to overpay this mortgage and I have confirmed with the mortgage lender that they are happy to accept overpayments.

    However I understand I will need pay tax on any profits from the letting (I'm new to this!) - would me overpaying the mortgage mean I earn less profit and therefore have to pay less tax?

    Thanks in advance,
    Leon
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