If you bought a rental property a few years ago at say 250,000 with an 80% loan which is 200,000, (at 3.29 % currently), you can off set the interest paid (200,000 x 3.29% = 6580) from your rental income. If the property is currently worth 400,000, would it make sense and indeed can you re-mortgage this property back up to 80% again of the current market value (80% of 400,000 = 320000), use this equity released to reduce my home loan (ppr at same rate 3.29%) and once again maximise the interest I am paying on this rental property (now 320,000 x 3.29% = 10528) there by reducing the taxable profit on rental income???
thanks!!!!
thanks!!!!