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allowance on interest rate or direct debit amount?
UKSBD
Posts: 842 Forumite
Just checked my statement for the interest only mortgage on property I am renting out.
The interest amount per month is not the same as the direct debit amount (only by a few £ and I presume because months are 29, 30 or 31 days).
Which figure do you use when claiming allowance, the 12 monthly interest figures or the 12 monthly direct debit figures?
The interest amount per month is not the same as the direct debit amount (only by a few £ and I presume because months are 29, 30 or 31 days).
Which figure do you use when claiming allowance, the 12 monthly interest figures or the 12 monthly direct debit figures?
0
Comments
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What allowance? Do you mean a deduction for the purpose of calculating rental amounts? It's the actual amount of interest you've been charged per your mortgage statement.
I presume the direct debit is a fixed amount, but it should work itself out over the year."Real knowledge is to know the extent of one's ignorance" - Confucius0
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