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Hello Sam and thank you for your answer,
To be sure I understand correctly, and yes house mostly on my income so will be 50:50 split, but my wife could effectively receive the £125 income tax free anyway as doesn’t earn enough, but I would be due 40% tax on £125, however since we are paying interest of £150 each I could offset the income against this, and thus in the end not effectively be paying any tax. This also sounds more like it would be treated as a rental property and up to now we haven’t considered claiming for any Interest, etc. losses, so maybe we should think about this?