BIM45700 query

I currently own a rental property mortgage free, which I intend to partially refinance with a mortgage loan to invest in another rental property. In this case would BIM45700 apply and allow me to deduct the interest payable on the loan as an expense on my current rental property.

Hi 
Yes this would be allowable.
 Please see our guidance below for futher informatin:
Work out your rental income when you let property
Thank you.