Reduce tax

jamjam3

I have an income of £20,700 from my 4-bed house which pushes my total income well above the 40% tax level.

Ideally, the only way to reduce my tax from the rental is to have a mortgage on the house. The only problem I have is that my tenants are DSS. No problem with them thus far and they were recommended by someone I know.

The chances of a buy to let mortgage with DSS tenants are very slim. But does anyone know if there are providers out there who would be happy to lend me money?

Thanks in advance.

CLAPTON

do you have a mortgage on your the house in which you live?

if you did get a BTL mortgage what would you do with the money?

jamjam3

Thanks for replying.

The house is mortgage free and I would remortgage to put down a deposit for a second property.

VIGILANT22

Quote: But does anyone know if there are providers out there who would be happy to lend me money?

Have you thought about speaking to an adviser?

jamjam3

not looking to remortgage now hence why I have not approached a broker/adviser. Might charge me.