Rental property - Equity Release

Gorgeous_George

Speak to a mortgage advisor.

You need a BTL mortgage (I wouldn't call it a remortgage as there is no mortgage at present). Speak to a mortgage advisor or search the Internet.

The cost of the work cannot be offset against income tax but may be offset against capital gains when you sell the property. Check with a tax advisor. I'm not sure about the interest payments on the loan.

Is it not possible to have tenants at the property during the works - possibly at a reduced rent? This would provide some income and additional security at the property.

GG

nissarm

Gorgeous_George wrote: »

Speak to a mortgage advisor.

You need a BTL mortgage (I wouldn't call it a remortgage as there is no mortgage at present). Speak to a mortgage advisor or search the Internet.

The cost of the work cannot be offset against income tax but may be offset against capital gains when you sell the property. Check with a tax advisor. I'm not sure about the interest payments on the loan.

Is it not possible to have tenants at the property during the works - possibly at a reduced rent? This would provide some income and additional security at the property.

GG

Thanks, i will take up your advice.

Regards,
Nissar