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buy to let
skcollobcat10
Posts: 331 Forumite
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yes, you certainly can do this, providing the rent is covering the repaymentsI am a Mortgage AdviserYou should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it.This signature is here as I follow MSE's Mortgage Adviser code of conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0
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OK there is no capital gains tax liability until you sell the property - the chargeable amount then depends on the gain obviously, but also how long you have owned it.
So if you sell to buy another property there is potentially a tax charge to pay, but not if you raise capital against it.I am a Mortgage AdviserYou should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it.This signature is here as I follow MSE's Mortgage Adviser code of conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0
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