Tax - lenders product fee deductible against rental income?

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Senaka
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The tax office advised me that the lenders product fee on the original mortgage to purchase the property and subsequent remortgages are not deductible expenses against rental income. They view it as a capital expense. At the time I accepted it but with remortgages coming up and the rather hefty fees lenders are charging I just wanted to see what other people think. In my view a higher product fee is just another finance cost, instead of charging a higher interest rate they charge a product fee.

Senaka

08/09/2008 00:00

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