Yeah, been trying to get my head round that. I'll still be in the basic income tax bracket, so this would mean I basically only pay tax on the income after monthly interest mortgage payments and agency fees right?
@andyfallsoff & @aggi, of course, prices could fall as well as rise etc etc. I appreciate that, but this'll be for a year at most, e.g before brexit. I could potentially be in the arguably favourable position of not owning a home when Brexit happens, and wait to see what happens before buying again.
There are transitional arrangements in place for interest so you'll need to check how much you can deduct. I don't think it's all of it but not sure what the current rules are.
Yeah, been trying to get my head round that. I'll still be in the basic income tax bracket, so this would mean I basically only pay tax on the income after monthly interest mortgage payments and agency fees right?
@andyfallsoff & @aggi, of course, prices could fall as well as rise etc etc. I appreciate that, but this'll be for a year at most, e.g before brexit. I could potentially be in the arguably favourable position of not owning a home when Brexit happens, and wait to see what happens before buying again.