Hi all
Recently myself and mrs. westgolf were in a position to repay a loan which we had organised to help buy our principal private residence.This loan was by means of equity release on my parents residence.The product in question was called Lifeloan and was a Bank Of Ireland product.
The entire amount of the loan plus accumulated interest was paid off by ourselves.
My query is this : can I claim mortgage interest relief on this as it was in effect a mortgage on which no payments were being made ?
Westgolf
Recently myself and mrs. westgolf were in a position to repay a loan which we had organised to help buy our principal private residence.This loan was by means of equity release on my parents residence.The product in question was called Lifeloan and was a Bank Of Ireland product.
The entire amount of the loan plus accumulated interest was paid off by ourselves.
My query is this : can I claim mortgage interest relief on this as it was in effect a mortgage on which no payments were being made ?
Westgolf