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Tax break on Mortgage!!

Why isnt Gordon Brown giving tax breaks on mortgages?

Comments

  • dunstonh
    dunstonh Posts: 121,107 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    why should he?
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • homer_j_3
    homer_j_3 Posts: 3,266 Forumite
    because the op said so - come on duston, get a grip and follow the script lol.
    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.
  • Dylanwing
    Dylanwing Posts: 2,015 Forumite
    How about beer being made tax deductable?
  • dmg24
    dmg24 Posts: 33,920 Forumite
    10,000 Posts
    Lingerie?!
    Gone ... or have I?
  • pashish1 wrote: »
    Why isnt Gordon Brown giving tax breaks on mortgages?

    He does (except residential ones)
  • eek
    eek Posts: 84 Forumite
    He does (except residential ones)

    He doesn't. Rent is paid out of taxed income. That rent is then given to the landlord who may or may not have a mortgage to pay.
  • eek wrote: »
    He doesn't. Rent is paid out of taxed income. That rent is then given to the landlord who may or may not have a mortgage to pay.

    The OP was talking about mortgages not rent. If the landlord has a mortgage he will get tax relief on the interest.
  • dunstonh
    dunstonh Posts: 121,107 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    Its not really tax relief. It is an allowable expense.
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • Move to the Isle of Man.
    Mortgage interest is deductible from income tax there, if the lender is Island based. (I'm based in Edinburgh, telephone based, and apart from UL mainland enquiries, I am getting several enquiries a month from IOM, Jersey, and Guernsey - they all have their own rules)
    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.
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