Do buy-to-let mortgages still exist?

camphor wrote: »

No. Interest relief is only allowed where the money was borrowed for the purchase or repair of the rented property. A landlord cannot re-mortgage a house and go on a world cruise with the money and then claim interest relief on the loan.

Thanks for the reply. If you currently have an owner-occupier mortgage on a property, regardless if the mortgage was taken originally or it was a re-mortgage, I have been told that the scenario is that you switch it to a buy-to-let mortgage and can claim tax relief on this. The value/mortgage is considered from the point that it becomes a rental property and interest relief is obtainable on that mortgage but not on any future remortgaging.

Not looking to commit tax fraud, just out of interest more than anything.

D3PO wrote: »

correct and just to add a point on committed theory anyway there is discussion of the government looking at removing the 75% interest as a tax deductible for LL's it may not happen but its certainly been bandied about so even if what you were proposing was theoretically possibly it would probably be foolish given the risk of the rug being pulled from under you anyway.

I believe that the 75% will stay in place until 2022 but as we know anything can happen!

I was thinking of moving from Dublin to another part of the country in a few years, would it be a good idea to buy the house on a buy to let mortgage now, rent it out for the few years and then have the option to move in, sell or continue renting it out?