Changes in interest relief on your BTL Mortgages

You are here : Member Forums Other Changes in interest relief on your BTL Mortgages
This topic has been locked as no posts have been made within the last 90 days.
Forum Avatar
Charlotte Cc
35 Posts
1 Thanks

Hi

I need some advice on how to deal with this announcement made by George Osborne. My circumstances are as follows:

  • My husband and I own 5 properties which we let out.
  • I am in the 20% tax bracket whilst he is in 40%. I am currently part time so before property income I only earn £23.5k.
  • We currently own the properties 50:50 split.
  • Our profits from the properties are around £1730 per month give or take a couple of hundred for repairs every couple of months.
  • There is room for movement in the rents charged as these haven't been increased for nearly 2 years now.

What I would like to know is how my husband and I should deal with the announcement of interest on mortgages not being tax deductible? Should we increase rents to cover some of this? Would you convert to a Ltd company?

Thank you for your help with this.
Charlotte

07/08/2016 08:26

Want to read more?

This is a members only forum, if you want to read more you need to login to your membership, if you are not a member, click here to join.

This topic has been locked as no posts have been made within the last 90 days.
Ideal Flatmate
Elfin Kitchens
Landlord Broadband
John Pye Auctions

Share this page