Drawing Capital repayment mortgage on Residential home to buy a Buy to let?

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    Drawing Capital repayment mortgage on Residential home to buy a Buy to let?

    Hello there,

    I have a residential mortgage of £156,000 on a property valued at £350,000.
    I was hoping to raise some finance on my residential property to put down as a deposit on a buy-to-let, but I have been told that any additional borrowing above 156,000 will be on a capital repayment basis.
    I would be using this additional borrowing as my buy to let deposit, consequently is it tax deductable?

    Many thanks

    #2
    Only the interest part of the loan. Not the capital repayment figure.

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