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BTL mortgage - adding second owner
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caronoel
Posts: 908 Forumite

in Cutting tax
I am a 45% taxpayer, while Mrs C pays standard rate, and I currently own a small portfolio of buy to let properties which are largely mortgage free.
I am thinking about transferring 90% of the ownership of the portfolio to my missus. Value of portfolio is approx £2m, with a mortgage of approx £100k.
I understand that there will be a small amount of SDLT payable on the transfer of equity.
My query is this... If I increase the mortgage total at the point of TOE, is the increased mortgage payment allowable against income tax? I would be remortgaging to invest in a VCT.
I am thinking about transferring 90% of the ownership of the portfolio to my missus. Value of portfolio is approx £2m, with a mortgage of approx £100k.
I understand that there will be a small amount of SDLT payable on the transfer of equity.
My query is this... If I increase the mortgage total at the point of TOE, is the increased mortgage payment allowable against income tax? I would be remortgaging to invest in a VCT.
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