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Posted Wed, 23 Oct 2024 13:04:35 GMT by Eg2061
Hello and thanks in advance for any advice. I wanted to check, I initially occupied my property myself but later decided to rent it out. As such I have a householder mortgage but pay an annual 'consent to let' fee to the bank on my mortgage account. As this fee relates exclusively to the rental function is this a 'mortgage related cost' which would be deductible for my self assessment? Thank you
Posted Tue, 29 Oct 2024 09:51:37 GMT by HMRC Admin 21 Response
Hi,
Thank you for your question.  
Where the loan/mortgate is wholly and exclusively for the purchase of the property then the interest can be claimed as an expense.
You can find information at:  PIM1094 - Cash basis for landlords: receipts and expenses.
Thank you.

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