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Bristol_newbie
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Last Activity: 08-06-2021, 14:01 PM
Joined: 08-02-2021
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  • Bristol_newbie
    replied to Mortgage Early Repayment Charge
    Thanks again, as it's my first year and clearly it's not black and white I Think I may employ a good accountant this year.

    Appreciate your time.
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  • Bristol_newbie
    replied to Mortgage Early Repayment Charge
    Claymore,

    Yep I have done that but unfortunately the period of consent will still leave me liable to a penalty charge. I am now just trying to work out how the tax implications work to establish my best option.

    Many thanks for the thoughts
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  • Bristol_newbie
    replied to Mortgage Early Repayment Charge
    Thank you for the quick reply, much appreciated. Noting your comment about tax not being black and white, I was thinking along the lines that the early repayment charge is only caused because I have to covert my mortgage to BTL and then could be considered solely due to the rental business ?...
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  • Bristol_newbie
    started a topic Mortgage Early Repayment Charge

    Mortgage Early Repayment Charge

    Afternoon all,

    In September I'll be renting out the house I currently live in and need to convert my mortgage to a buy to let. My bank has informed me that the early repayment charge is £2,500. I can't seem to find out if this is tax deductible against my future rental income though, or...
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