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Property loan

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sammd | 20:40 Wed 29th Mar 2006 | Business & Finance
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Is a mortgage a property loan or is a property loan something different?
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Avatar Image Loosehead
A mortage is a property loan from the French Death - Promise, however a property loan is not necessarily a mortgage, ie a loan to buy a property does not have to be a mortgage.
21:39 Wed 29th Mar 2006
Avatar Image sammd
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Hmm, do you think on this website they're including mortgages in 'property loans'? (5th bullet point down)
22:08 Wed 29th Mar 2006
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http://www.direct.gov.uk/MoneyTaxAndBenefits/Taxes/TaxOn PropertyAndRentalIncome/TaxOnRentalIncomeArticles/fs/en? CONTENT_ID=10014027&chk=Pxa9k4
22:09 Wed 29th Mar 2006
Avatar Image Loosehead
Yes, they are saying that any interest you pay on a loan realated to the property in question is offsetable against tax for any profit made on that investment. Essentially interest on a property you rent out is just another expense. Whether or not there is a mortgage dobument attached to the loan is irrelevant.
22:14 Wed 29th Mar 2006
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Cool, thanks.
20:58 Thu 30th Mar 2006

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