Hi Sam
I currently own a property mortgage free and want to move home and rent my current home. I need to take out a mortgage to buy the new propery however I would prefer to mortgage the rental property so I can offset the interest against the rental income however my dilemma is that the mortgage % being offered is 1% lower on the new property as I am borrowing less than 60% of the
Value. Can I take out the mortgage on the new propery at the lower interest rate and claim the interest at the value of the rental property * interest % as this is the most profitable for both me and the tax man.