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Reasons for a mortgage
Theyarv1
Posts: 158 Forumite
Hi,
I have 2 flats, neither of which has a mortgage on it as my mum helped me with one of them, but i would like to take out 100k to pay her back. One is a rental so makes sense to get it on there for the tax break - is there a legitimate reason to go to a bank and ask for a mortgage?
I have 2 flats, neither of which has a mortgage on it as my mum helped me with one of them, but i would like to take out 100k to pay her back. One is a rental so makes sense to get it on there for the tax break - is there a legitimate reason to go to a bank and ask for a mortgage?
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Comments
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If the other is residential, the rate will be far less, and you should still be able to offset against tax.I am a mortgage adviser.You 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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