Claim relief of on mortgage interest on Joint Loan

Hi, My wife and I owns the property in joint names. I assigned 100% income benefits to her with no financial consideration. The mortgage is also in both of our names with no specification regarding who is responsible for how much. Since she gets 100% benefit of income can she claim 100%(i.e. whole 20%) relief on the mortgage interest. Thanks

Hi srims,
Claims for interest relief can only be made by the person that took out the loan and pays the interest on it. 
Thank you. 

 

If I have transferred beneficial interest including the debts on the property. She will be responsible for paying the interest. The joint mortgage doesn't say how much each person responsible for paying the money. However if there is a trust which declares wife is responsible for paying the interest, can't she claim the relief on the interest?. I understand moving debts to wife will trigger stamp duty. As per my understanding as far as the overall debt getting transferred for the single property is less than 250000 the SDLT will be nil even if it is a BTL property. Please clarify

Hi ,
 

Thank you for your question. With regard to the mortgage interest, any expense must be incurred wholly and exclusively for the purpose of the rental business. So long as your wife can demonstrate that she’s incurring the expenditure, then it would be allowable. Your question regarding Stamp Duty is not appropriate to this forum and should be directed to the SDLT Customer forum . Thank you .