In order to reduce tax bill on rented property, I intend to release some equity (and thereby increase annual interest payment) and use lump sum to reduce mortgage on another property (holiday home earning no income).
(1) Would revenue have an issue with this?
(2) Would lending institution insist that the equity release be re-invested back into that property? Or do they care what you do with it, if equity v financing is still quite strong?
(1) Would revenue have an issue with this?
(2) Would lending institution insist that the equity release be re-invested back into that property? Or do they care what you do with it, if equity v financing is still quite strong?