How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask bigduckontax Your Own Question
bigduckontax
bigduckontax, Accountant
Category: Tax
Satisfied Customers: 3814
Experience:  FCCA FCMA CGMA ACIS
75394688
Type Your Tax Question Here...
bigduckontax is online now

A friend has a buy to let property with a mortgage on it. Can

Customer Question

A friend has a buy to let property with a mortgage on it.
Can he take a private loan out on the property, where the rate is fixed at a percentage of the increase in value of the property ?
Submitted: 2 years ago.
Category: Tax
Expert:  bigduckontax replied 2 years ago.
Hello, I'm Keith and happy to help you with your question.
Well, yes he can; that is assuming that the lender is prepared to accept that they are a second mortgagee. All interest payable on these mortgages would be allowable against rental income.
I do hope I have helped you with your question.
bigduckontax and other Tax Specialists are ready to help you
Expert:  bigduckontax replied 2 years ago.
Thank you for your support.

Related Tax Questions