Property Investment FAQ's are not accessible - perhaps it's because the site is moving?
So glad Help999 posted this thread - we have just approached the bank to request the transfer of the mortgage on our home to an investment property we own outright in order to deduct the mortgage interest from the rental income! Had no idea this was not possible - we also wouldn't have paid in full for the investment property had we known this was the situation.
Perhaps a lesson for everyone here thinking of getting into property investment - get good advice, particularly on tax issues, before you buy!