zimzam Posted February 1, 2009 Report Share Posted February 1, 2009 we currently have a mortgage on our own house. would it be better to transfer the debt to the rental property for tax purposes. Link to comment Share on other sites More sharing options...
plym77 Posted February 3, 2009 Report Share Posted February 3, 2009 depends on your individual circumstances, including the value of the property when first let, the sort of mortgage deals you may be getting and whether there are any redemption costs on your old property, and the income you are receiving for the property. Each case is individual, however in basicv terms, in can be possible to restructure existing borrowings to become qualifying loans, depending on circumstances. I would suggest that this is reviewed spcifically for you as structure of loans is important. If you require specific advice on tax, please feel free to email me for a quote. Sherena Link to comment Share on other sites More sharing options...
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