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furnsihed holiday let. Tax on remortgage charge
vegtablepatch
Posts: 177 Forumite
in Cutting tax
Hello
I have a holiday let property that was purchased with a £70,000.00 mortgage. I claimed legal and setting up cost in the year of purcahse. The mortgage was interest only but I put savings (not income from property) into a mtg saver account and this has reduced the balance.
I have two questions?
1) Can I claim tax relief for the costs incurred in obtaining the remortgage
including the booking fee and the closing charge for previous mortgage?
2) The new mortgage is again for £70,000. Ther original mortgage reduced by £5000 to £65,000 and I have received the £5000 balance. Can I claim tax relief for repayments on the full mtg of £70000.00 or only £65,000.00?
I have a holiday let property that was purchased with a £70,000.00 mortgage. I claimed legal and setting up cost in the year of purcahse. The mortgage was interest only but I put savings (not income from property) into a mtg saver account and this has reduced the balance.
I have two questions?
1) Can I claim tax relief for the costs incurred in obtaining the remortgage
including the booking fee and the closing charge for previous mortgage?
2) The new mortgage is again for £70,000. Ther original mortgage reduced by £5000 to £65,000 and I have received the £5000 balance. Can I claim tax relief for repayments on the full mtg of £70000.00 or only £65,000.00?
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