Charlotte Flem

I have a shared ownership property which I have permission to rent out due to not being able to sell.
I rent a property with my family in another location where I now work.
My rental income after expenses (except mortgage interest) is showing as £4723, my mortgage interest for the year is approximately £7200 (waiting for final figure from mortgage company) which means I made a loss of approximately £2477 for the tax year.
I have read that I can only claim for 20% of mortgage interest so what does this mean for me, do I still have to pay tax even though I made a loss?
I am employed and am a higher rate earner.