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Finance expense
Ed-1
Posts: 3,994 Forumite
If you take out a mortgage to cover the purchase price (i.e. market value) as well as extras such as fixtures/fittings and stamp duty etc., can the interest on these other costs over and above the market value be included as a finance expense to subtract from rental profits?
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Comments
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AFAIK only interest costs on a mortgage upto the market value at the time of first letting will count.
Don't forget the current tapering of interest relief currently underway as well.
https://www.gov.uk/government/publications/restricting-finance-cost-relief-for-individual-landlords/restricting-finance-cost-relief-for-individual-landlordsI am a mortgage broker. 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. Please do not send PMs asking for one-to-one-advice, or representation.0
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