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This is effectively the government saying "renting is not a business". Yes, but only if you're an individual landlord. If you register a company and buy the pr
by rahimnathwani 2y ago
This is effectively the government saying "renting is not a business".
Yes, but only if you're an individual landlord. If you register a company and buy the property through that, the normal rules apply and all interest expense is deductible. Of course, the mortgage might be harder to get or more expensive, as it's no longer secured on an individual's assets and future income.
- globular-toast 2y agoIsn't a mortgage secured on the asset itself (the house)?
- rahimnathwani 2y agoIn the USA, most mortgages are non-recourse loans, i.e. if the bank forecloses and sells the property for less than the outstanding loan balance, they can't go after the borrower for the difference. In the UK, the borrower is on the hook for the full amount of the loan.