Can you offset residential home remortgage interest used to fund BTL

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    Can you offset residential home remortgage interest used to fund BTL

    Hello Everyone!

    Based on what we know today looking ahead, if I remortgage my actual home in order to invest a sum eg £30k in a buy to let property, is the additional interest I have to pay on my home remortgage considered a finance cost in my tax return that can be offset against the tax payable related to the BTL rental income once it's purchased and let out?

    If it is, what proof would be needed for the tax return?

    Thanks ever so much!
    TGD

    #2
    Your conveyancing solicitor draws down the (1) mortgage loan raised on your home as well as (2) mortgage loan secured by the purchase BTL property just before the completion date of BTL property. So the funds from both mortgages appear on the solicitor's completion statement..

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