Allowable Expenses - Insurance query

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    Allowable Expenses - Insurance query

    We are currently considering renting out our house and renting another property for ourselves. We have been living in our house for 5 years, and have mortgage insurance. If we were to rent out our property, would I still need to keep the mortgage insurance, or would it be replaced by landlord's insurance? If I need to keep the mortgage insurance, would it be considered an allowable expense for tax purposes or not?

    I've checked the gov.uk website on the matter, and it seems that the interest only payments of our mortgage, property management fees and landlord insurance would all be allowable expenses, but I can't really find anything about actual mortgage insurance. Any help would be much appreciated.

    Thank you for your time

    Edit: Hmm - I've just seen this thread here, which I think answers my question. Apologies, I can't seem to delete the thread!

    #2
    If the granting of mortgage loan to you included a requirement to pay for mortgage insurance , then you should be able to claim it as an expense against rental income.

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