Mortgage tax relief

zougathefist

poppysarah wrote: »

Not forced.
it's a choice.

If you don't want to sell at a price that people can afford to buy then there you go.

Yes, thank you for your particularly unhelpful and altogether rather b*tchy comment - please don't waste your (or my) time by contributing if you have nothing constructive to say

I cannot sell as I purchased about 2 months before the market collapsed, meaning my property is now worth approx £15000 less than the mortgage secured against it. I have moved 150 miles away for work and whilst I did commute for about 3 months (renting during the week) I found this to be unsustainable. So now I let my property out, make a loss and still cannot sell - tell me where the 'choice' is?

Thanks however (genuine this time) to those of you who have taken the time to read and answer my question, I was not expecting the taxpayer (of which I am one) to fund me, I was just seeking clarification of the rules surrounding this as I had been told half the story and was not clear.

best

ZtF

silvercar

Totally agree with OOec25's explanation. Keep records, declare the loss on the property forms of your self assessment and carry the loss forward to future years in case you make a profit in future years.