Tax relief following mortgage top-up

K

kasko

Registered User
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Hi guys,

I am writing in relation to mortgage tax relief. I understand that the mortgage interest relief applies to a loan which is used solely for the purchase, repair, development or improvement of principal private residence.

I am after topping up my mortgage and about two thirds of this amount will be used for settlement of personal loans. These personal loans were taken out two years ago and were used for a portion of mortgage deposit and furnishing our home. My question is: does this amount also qualify for tax relief?

Any comment would be appreciated.

Thanks
 
Only the amount of the original loans used for the deposit. The rest does not qualify for mortgage interest relief.
 
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