Re-mortgaging for the purpose of buying another property

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M
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Does anyone know the tax legitimacy of re-mortgaging a buy-to-let house i own (with no mortgage), bought for about 25,000 25 yrs ago, now worth about 200,000. If i were to re-mortgage for say 100,000 and then use the money to buy another house, could i then offset some (a quarter?) or all of the interest against tax? Perhaps a question only an accountant can answer. Thanks for any info you can give me!
20/09/2010 00:00

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