Finance costs for buy-to-let tax relief

Hi If I re-mortgage my primary residence to release equity and use that cash to purchase a separate buy-to-let property outright, am I able to claim the additional mortgage costs on my primary resident mortgage as finance costs for the buy to let property (to use in the 20% tax relief section)? Thanks

Hi,
In your case it is important that we refer you to BIM45690.
This states that 'when a business is funded using borrowed money and that money is used for business purposes the interest is allowable.against that trade, so long as it is not for private purposes.'
This is then covered under the residential finance costs section - 20% tax relief:
Specific deductions - interest: Funding the business
Thankyou.