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BTL:Can I deduct interest payments on my residential mortgage

heraldic
heraldic Posts: 18 Forumite
in House buying, renting & selling
Hello

I am buying a buy-to-let. My residential mortgage (on another property) is at a lower interest rate.

I need to get the windows replaced in the new (BTL) property, and would like to deduct interest payments for this from my rental income.

Can I claim, for example, the cost of the windows at an interest rate of my residential mortgage (after all, if I hadn't bought the windows, I would be paying off my residential mortgage)...?

Thanks!

Comments

  • Will_it_make_me_rich
    Will_it_make_me_rich Posts: 107 Forumite
    Two points I would like to make you aware of, if this is your first BTL.

    You won't be able to deduct any expenses for the BTL until you start letting out.
    Be careful about any work you carried out that may be seen as upgrading rather than replacing. Replacements are deductable upgrading isn't.

    I think what you could do is, start letting out and then have the windows replaced. If you remortgage your residental mortgage to pay for the windows then a percentage of this mortgage is deductable.

    HTH
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