I lived in a property that I subsequently let out in full. Unfortunately, in the first year I didn’t tell my mortgage company, as I didn’t know I had to. I now have permission from them to rent the property. Is the interest still deductible, even though it’s not a buy-to-let mortgage?
Arthur Weller replies:
The interest is still deductible, even though it's not a buy-to-let mortgage, pursuant to the 'new' rules for deductibility of mortgage interest, from April 2017; see HMRC’s Property Income manual at PIM2054.